TSX Venture Exchange Symbol: AAL
VANCOUVER, June 19, 2017 /CNW/ - Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to report the staking of a new property in Catamarca province, Argentina to add to our existing prospective land holdings in the Antofalla Salar located in the provinces of Catamarca and Salta, Argentina.
Covering approximately 3,000 hectares (ha), this new property, known as Antofallita XX, is strategically located adjacent to properties held by global lithium major Albemarle. In September 2016 Albemarle announced an agreement with Bolland Minera SA ("Boland") for an exclusive exploration and acquisition agreement to acquire their holdings in the Antofalla Salar. Bolland and partners had drilled over 56 boreholes and had substantially advanced the property to the resource definition stage. The Company's total land holdings in the Antofalla Salar are now 13,000 hectares with 10,000 hectares located in Salta Province and 3,000 hectares in Catamarca Province, see Figure 1 and Figure 2.
The Company considers Antofallita XX of importance for its geological setting beside a prominent, deep-seated "suture" zone of regional fracturing along which numerous hot springs are developed, that could have deposited lithium in the property. Environmental permitting procedures have been initiated with the objective of obtaining approval for a proposed drill program.
Said CEO David Sidoo "Miguel Peral, our VP of Exploration, identified this property as prospective for lithium and given Miguel's track record of discovery as part of the discovery team for Salar Olaroz, Salar Salinas Grandes, Salar Incahuasi and Salar del Rincon, we are very pleased to have added this property to our portfolio. Miguel has been credited with several significant discoveries of lithium in Argentina and he continues to seek out other opportunities for the Company. Currently lithium properties in Argentina are being transacted for over a thousand dollars per hectare and our entry price by staking was very little. Mr. Sidoo CEO further said "We consider Antofallita XX a strategic property, being adjacent to Albemarle's ground and also considering Albemarle's view, as announced in their news release of September 2016, that they believe their property could contain the largest lithium resource in Argentina".
The technical information in this news release has been 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.
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]