TSX Venture Exchange Symbol: AAL
VANCOUVER, Nov. 27, 2017 /CNW/ - Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX Venture: AAL) (OTCQX: AVLIF) – Mr. David Sidoo, President and CEO, is pleased to announce the appointment of Andy Robb as Vice President, Project Development.
Andy will provide leadership to the current Cauchari exploration program activities and will assume responsibility for the Cauchari Project Development Strategy Implementation which will involve internal trade-off studies to support the NI43-101 PEA /Scoping study due to start in Q1 2018.
The studies will be completed in collaboration with JV partner Orocobre Limited, and will investigate alternative development strategies for future production. Recent drilling results at Cauchari have been positive and as a result of this drilling success, the main focus of these studies will now be on a standalone processing option to maximise value to Company shareholders from the significant growth in demand for lithium from electric vehicles and storage systems.
The studies will occur in parallel with the current Cauchari Resource upgrade program. Work will be completed by the end of Q1 2018 after which an updated resource estimate will be released. Independent laboratories are undertaking required QA/QC sampling and analysis programs to support an updated resource estimate.
Complete assay results from packer testing in CAU16 over the entire hole length to 320m will be reported by November month-end, followed by results from initial pumping tests on CAU08 and CAU11 in the SE sector by the end of December.
In the new year we expect to report results of double packer tests completed in Rotary Holes CAU8,9 10 and 11 in the SE zone as well as assay and flow results from NW Zone CAU15D and CAU7D.
Results of the drilling and pumping tests for the remaining holes will be progressively reported until the updated Cauchari resource estimate is released.
Mr. Sidoo said "The work program is advancing rapidly and given the planned work expenditures we anticipate meeting our earn-in with Orocobre in December when we will have funded $5 million in exploration costs at Cauchari and earned our 75% interest in Cauchari. The appointment of Andy Robb comes at a key stage in the Cauchari Project Development with positive drill results as the company progresses towards a resource update in early 2018. In his last position as Project Director for Enirgi Corporation's Rincon project, Andy was instrumental in the completing the DFS for the proposed 50 ktpa LCE project."
His experience in taking resource companies from early development through Scoping, Pre- Feasibility and Feasibility Studies, and further permitted project stages will complement the skills and experience of the Advantage team".
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-V: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 has acquired a 75% interest in a sixth, called Cauchari. The Cauchari project is located just 20 km south of Orocobre's flagship Olaroz Lithium Facility.
Further information about the Company can be found at www.advantagelithium.com.
ADVANTAGE LITHIUM CORP.
David Sidoo, President & CEO
Tel: 604.343.3760 | Fax: 604.683.1585
Email: [email protected]
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.
SOURCE Advantage Lithium Corp
For further information: David Sidoo, President & CEO, Tel: 604.343.3760 | Fax: 604.683.1585, Email: [email protected]