VANCOUVER, April 24, 2019 /CNW/ - Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX Venture: AAL) (OTCQX: AVLIF) announces that it has filed a National Instrument 43-101 independent technical report ("Technical Report") describing the updated mineral resource estimate for the Cauchari JV brine deposit located in Jujuy Province, Argentina. This report supports the Company's earlier news release of March 7th 2019. There are no material differences between the resource estimate in the Technical Report and the news release disclosure of March 7th 2019.
The updated resource estimate was prepared by FloSolutions SpA of Santiago, Chile with Mr. Frits Reidel being the independent Qualified Person ("QP") who has reviewed the technical content of this release.
As previously disclosed, based on an intensive and successful drilling campaign in 2018, the updated estimate has increased the resource to a volume of 1.9km3 of brine at an average concentration of 476 mg/l lithium equivalent to 4.8 Mt of Lithium Carbonate Equivalent ("LCE") in the Measured and Indicated ("M&I") categories. The Inferred resource is now estimated at 0.6km3 of brine at an average grade of 473 mg/l lithium equivalent to 1.5 Mt of LCE. The M&I resource will now form the basis for a Pre-Feasibility Study currently underway.
About Advantage Lithium Corp. Advantage Lithium Corp is focused on developing its 75% owned Cauchari lithium project, located in Jujuy, Argentina. The Company also owns 100% interest in three additional lithium exploration properties in Argentina: Antofalla, Incahuasi, and Guayatayoc. The Company is headquartered in Vancouver, British Columbia and trades on the TSX Venture Exchange (TSX-V:AAL) and on the OTCQX Best Market in the U.S. (OTCQX: AVLIF).
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.
SOURCE Advantage Lithium Corp
For further information: Callum Grant, P.Eng, Interim Chief Executive Officer, Tel: 604.343.3760, Fax: 604.683.1585, Email: [email protected]