VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 9, 2017) – Advantage Lithium Corp. (the “Company” or “Advantage Lithium“) (TSX VENTURE:AAL)(OTCQX:AVLIF) is pleased to provide further details regarding the Phase One drilling program that has commenced at the company’s flagship lithium property located in the Cauchari Salar of Jujuy province in NW Argentina.
Hole CAU07, the first of the five-hole Phase One program at Cauchari (Figure 1) has been collared in the NW block of the JV property exploration target area1, which has been defined with a range of 125 to 1,855 million cubic meters of brine at between 260 and 600mg/l lithium and 2,500 to 5,350mg/l potassium for the lower and upper ranges1 respectively; this represents an in situ range of contained product of between 0.25 to 5.6 million tonnes of lithium carbonate equivalent (LCE) and 0.9 to 19 million tonnes of potash (KCl).
The hole is expected to drill through a sequence of gravels (Figure 2) before reaching the target salt lake sediments. The pre-collar through the gravels is expected to take three to four weeks, including cementing. This will be completed before moving the rig to drill CAU10 in the south-eastern target area where the existing inferred resource is located. This will allow the cement to cure adequately, while advancing with drilling at CAU10. Further drilling will be completed in the south-eastern area before returning to complete CAU07.
David Sidoo, CEO of Advantage Lithium, commented, “Drilling has now commenced, with the first hole collared in the North-West area of our exploration target approximately 7 km north-west of our existing resource at Cauchari. We are excited by the potential to expand our resource both laterally and at depth, and we look forward to sharing the results as they are received over the coming months.“
Cauchari Phase One Drilling and Testing Program
The Phase One program consists of drilling five rotary holes (refer to Figure 2) to a depth of approximately 400 m targeting sand and halite units identified at Cauchari and Olaroz. It is estimated that 3-4 weeks will be required to drill each hole and install a well to the required depth. In-hole geophysical profiling and geological logging will provide the basis for installing screen intervals in the wells.
Other activities will sequentially follow completion and cleaning of the wells. Once clean, brine sampling will be undertaken in the wells at different depth intervals (using packer equipment) to establish the distribution of lithium throughout each well. As detailed sampling will follow well installation, brine analytical results are likely to become available approximately 8 weeks after the initiation of each hole.
Pump testing will then be undertaken following completion of depth sampling, with variable and fixed rate flow tests planned to assess the production capacity and lithium grade of each well. The wells will be installed so they can be used for future brine production.
Additional rotary and/or diamond drill holes will be added as justified by initial results as we proceed towards engineering studies.
The holes to be drilled are located immediately east and west of properties where Lithium Americas Corp (LAC) previously defined a large lithium brine resource in an NI43-101 report dated 11th July 2012. Figure 3 shows the location of the Advantage Lithium exploration target areas relative to the neighboring resource.
To view Figure 1: Location of the phase 1 drill holes relative to previous drilling; Figure 2: Rig drilling hole CAU07 in the Cauchari Northwestern properties and Figure 3: The location of the Cauchari drilling areas relative to the Lithium Americas Corp. lithium resource, please visit the following link: http://media3.marketwire.com/docs/1094088_F1-3.pdf
(1) An exploration target is not a mineral resource. The potential quantity and grade of the exploration target is conceptual in nature, and there has been insufficient exploration to define a Mineral Resource in the volume where the Exploration Target is outlined. It is uncertain if further exploration drilling will result in the determination of a Mineral Resource in this volume.
The technical information in this news release has reviewed and approved on behalf of the company by Murray Brooker, MAIG, RPGEO, a “Qualified Person” as defined in NI 43-101.
About Advantage Lithium Corp.
Advantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. The common shares of the company are listed on the TSX Venture Exchange (TSX VENTURE:AAL), and the company is also traded on the OTCQX Best Market in the U.S. (OTCQX: AVLIF). The company has acquired a 100% interest in five projects in Argentina and up to a 75% interest in a sixth, called Cauchari. Cauchari is located just 20 km south of Orocobre’s flagship Olaroz Lithium Facility. The Company is also earning an interest from Nevada Sunrise Gold Corp., in a portfolio of five lithium brine projects in the Clayton and Lida Valley regions of Nevada, USA, including 70% in Clayton NE.
Further information about the Company can be found at www.advantagelithium.com.
ADVANTAGE LITHIUM CORP.
David Sidoo, President
Cautionary Statement:
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “is expected”, “intends”, or “has the potential to”. Forward-looking statements contained in this press release may include statements regarding the future operating or financial performance of Advantage that involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
David Sidoo
President
604.343.3760
604.683.1585 (FAX)
[email protected]
www.advantagelithium.com
