TSX Venture Exchange Symbol: AAL
VANCOUVER, June 7, 2017 /CNW/ - Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to provide this update on the successful start to its exploration drilling program on the Cauchari JV property located in Jujuy Province, Argentina.
- The first hole of the Cauchari drilling program CAU07R is located in the NW property block, where there are no previous drill holes.
- Hole CAU07R achieved its initial objective of installing cased steel lining, cemented in place to 95m through alluvial gravels, to provide hole stability for deeper drilling. The drill rig has mobilized to the second drill site and will return once drilling there is completed.
- Down-the-hole geophysical response in CAU07R suggests brine conditions begin at a depth of 60-70m. Sampling and testing of the fluid in the hole will be conducted once the drill rig returns to CAU07R and at that time we will have information on the chemical composition of the fluid1.
- The rig has commenced drilling at the second site (CAU10R), in the SE property block. Once drilling of CAU10R is complete to full depth, drilling of CAU07R will resume to its final target depth when sampling and assaying of the aquifers below the alluvial fan can be completed.
Said President & CEO Mr. David Sidoo: "We are pleased with how the drill program is progressing. The drilling and casing process at the initial drill hole was complicated and the successful outcome is a testament to the excellent team we have working in Argentina. The results from the geophysical survey are very encouraging and a positive first step. I look forward to results of the upcoming chemical analyses. The rig is now drilling ahead in the SE portion of the property where we have the inferred resource in place. All in all we are progressing as planned."
Drill Program Objectives
Consisting of an initial phase of five deep rotary drill holes supported by a follow-up phase of 12 diamond drill holes, the objective of the 2017 work program is to significantly expand the project's current resource base which comprises an inferred resource estimated at 230 million cubic metres of brine at 380 mg/l Li and 3,700 mg/l K representing in situ contained content of 470,000 tonnes of lithium carbonate equivalent (LCE) and 1.62 million tonnes of potash (KCL)2.
The 2017 work program will be focused on two exploration target blocks:
- The North-West (NW) block (where there is no previous drilling) testing the lateral and depth extent of sediments hosting brine aquifers known to occur on neighbouring properties;
- The South-East (SE) block with the goal of expanding the depth and lateral extent of the existing resource and upgrading the resource classification.
Initial drilling in the NW target area commenced with the first hole CAU07R targeted to reach the base of the salt lake sediments after completion of the pre-collar hole through the overlying gravel cover.
1 The reader is cautioned that the interpretation of brine is based on indirect geophysical methods and there is no guarantee that brine would contain lithium at an economic concentration.
2 Independent Technical report, December 2016, Brooker et. al.
Drilling Progress NW Block
Following mobilisation of drill contractor and company crews in late April, the first hole CAU07R was collared on May 6th in the NW target area (see map location, Figure 1). The objective of this exploration hole is to test the lithium brine content of salt lake sediments below the overlying Archibarca alluvial gravels.
The pre-collar (pilot) hole through the gravels was completed on May 8th to a depth of 130m followed by reaming in stages to 12, 17, 19, and finally 20 inch hole diameters completed by May 31st. Steel casing was installed and cemented to 95m by June 4th to provide hole stability and environmental protection of the brackish water present in the overlying alluvial gravels. Subsequently, the hole will be deepened to test the interpreted brine bearing sediments.
While the cement seal in CAU07R thoroughly cures, the drill rig has moved to the SE exploration block where the second rotary hole (CAU10R) was collared on June 5th.
Results from in-hole geophysical profiling, using basic down-the-hole Resistivity and Self Potential instruments indicates that this first rotary hole CAU07R passed into salt water (brine) conditions at approximately 60-70m. Sampling has not yet been completed to confirm lithium concentrations and the chemical characteristics of the brine. This information will become available once the drill rig returns to the CAU07R site and completes drilling to the base of the salt lake sediments.
Once the hole has been drilled to the target depth, it will be constructed as a well, with intervals of screen (filters) and steel lining installed. Cleaning (development) of the well will be undertaken, followed by sampling .A down-hole pump and will be installed in the hole to allow pump testing with measurement of flow rates and other physical characteristics.
SE Block Drilling
The four rotary holes to be drilled in the SE block do not require installation and cementing of a deep pre-collar, as these holes are located on the salt lake and no surficial gravels occur in this area. Consequently holes in the SE block will be drilled without any time waiting for cement curing, which reduces their overall drilling time.
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 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.
Per: "David Sidoo"
David Sidoo, President
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, Tel: 604.343.3760, Fax: 604.683.1585, Email: [email protected]