VANCOUVER, British Columbia, June 09, 2020 (GLOBE NEWSWIRE) — Alpha Lithium Corporation (TSX.V: ALLI) (OTC: ALLIF) (“Alpha” or the “Company”) is pleased to announce it has completed the first phase of geophysics and provides a summary of ongoing operations at the Company’s Tolillar Salar. The technical and operations teams mobilized in May and transported a full complement of equipment for the first phase construction of a high-altitude onsite camp. To review a short video and photo gallery of recent activity, please visit: https://alphalithium.com/gallery/.
Under the auspices of Dr. Rodolfo Garcia’s company, Conhidro SRL (“Conhidro”), the first phase of Alpha’s high-powered Vertical Electrical Sounding (“VES”) geophysics program has concluded. Dr. Garcia accompanied Alpha’s Country Manager, David Guerrero, to provide direct supervision of the campaign. The Company and Conhidro will now spend several weeks compiling and analyzing the data into usable geological representations and hydrogeological models.In addition to conducting the geophysics program, Alpha has also engaged local community members; thus, reinforcing Alpha’s commitment to all stakeholders from the very beginning of the project. Additionally, Alpha has begun construction of a major access road to the salar and started developing a network of roads on the salar. The team also erected the first phase of what will become Alpha’s permanent high-altitude onsite camp. The camp now provides 24-hour communications, housing, food, water, and related facilities in support of all activities taking place across the entirety of the Tolillar Salar.Dr. Garcia is a celebrated lithium brines hydrogeology expert, having worked on virtually every salar in northwest Argentina. He is a world-renowned geological professor who has taken a keen interest in getting very hands-on in Tolillar. In fact, Alpha’s Tolillar project is the first salar he has personally visited in over three years and advised that this was due to having been inspired by his team’s initial analysis of the existing data. He personally directed the VES crew to ensure near-perfect data was captured during the geophysics program.David Guerrero, Alpha’s Country Manager, reports, “It’s been a very hectic and altogether successful two weeks of mobilizing our on-site camp ahead of schedule and under budget. Dr. Garcia’s previous analysis of the data at-hand provided such a high level of confidence that we assuredly strayed from convention and took advantage of cost saving opportunities and the abundance of available equipment partially due to Covid-19 impacts on regional activity. With a surplus of equipment and eager workforce immediately available, we were able to secure high-performing crews at a fraction of the typical cost. The construction of a camp this early in the exploration process will significantly lower our future operating costs.”Mr. Guerrero has also undertaken construction of a new 6.5km access road, which will provide year-round, reliable access to the salar from the same high-grade road used by Livent’s Fenix operations for the last 20 years. The improved and much shorter access road will provide year-round access for drilling equipment, which will reduce future operating costs.Brad Nichol, Company CEO notes, “It‘s fantastic that we have already completed our planned geophysics program and were able to get up and running in Argentina so quickly. Given today’s global uncertainty, we weren’t quite sure how smoothly operations might ramp up; however, we are thrilled at how efficiently and quickly David has been able to get moving. We have had highly positive interactions with the local community and our geophysics was shot under the direction of a local geological legend. Our camp is established four months ahead of schedule and under budget. With a degree of optimism returning to the resource sector, we very much look forward to reviewing the results from our first geophysics program at Tolillar Salar.”Previous programs conducted at Tolillar provided encouraging results as samples taken at shallow depths ranged up to 504 mg/L of lithium. Initial Company-driven activities on the salar have also led to the discovery of two new fresh water sources. Securing access to fresh water in high altitude deserts like Tolillar is an enormous benefit for future development and production operations and serves as a decided advantage towards the strategic value of the Company.ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION“Brad Nichol”Brad Nichol
President, CEO and DirectorAbout Alpha Lithium (TSX.V: ALLI) (OTC: ALLIF)Alpha Lithium is a growing team of industry professionals and experienced stakeholders focused on the development of the Tolillar Salar. Together, we have assembled 100% ownership of what may be one of Argentina’s last undeveloped lithium salars, encompassing 27,500 hectares (67,954 acres), neighboring multi-billion-dollar lithium players in the heart of the renowned “Lithium Triangle”. Other companies in the area exploring for lithium brines or currently in production include Galaxy Lithium and POSCO at salar Hombre de Muerto; Livent at salar Hombre de Muerto; Orocobre on salar Olaroz; Eramine SudAmerica S.A. on salar Centenario; Gangfeng and Lithium Americas on salar Cauchari;For more information visit: https://alphalithium.com/ and follow us on Twitter or Facebook.
Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. The Company’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements. The Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.Neither the 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.
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