Vancouver, British Columbia, January 31, 2019 – Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to provide this update on activities at the Cauchari JV property located in Jujuy Province, Argentina.
President & CEO Mr. David Sidoo commented: “The CAU07 test results confirm the excellent characteristics of the NW Sector for future brine production, both in terms of high lithium concentration and positive aquifer and pumping characteristics. This area was first drilled by Advantage in 2017, having had no previous exploration. We are currently conducting an update of the project resource estimate with results from the recently completed drilling, concurrently with preliminary design of production well fields for the project Feasibility Study. Results to date suggest we have yet to fully define the extent of brine mineralisation, with the Cauchari-Olaroz basin emerging as the most significant lithium brine basin outside of Atacama. We look forward to providing further information to shareholders as activities progress.”
CAU07 Pumping Test
The 30 day constant rate pumping test was completed on test production well CAU07 in the NW Sector (Figure 1) in mid-January. The pumping test was carried out at a constant rate of 22 l/s with a drawdown of 40 m. Assays received for the 30 days of the test averaged 650 mg/l Li and 4,970 mg/l K, with a Mg/Li ratio of 2.2:1. The CAU07 pumping rate is limited by well construction constraints and higher pumping rates are expected in future production wells based on the observed aquifer conditions. Brine samples were collected at regular intervals during the test and showed no significant variation over the test, with concentrations of between 642 and 659 mg/l lithium.
Updated Resource Estimation and Preliminary Wellfield Design
An update to the project resource estimate is currently underway and incorporates all the information from the 26 exploration and test production wells that were drilled as part of the Phase II and Phase III exploration programs. During the Phase III program the resource area was extended to the south and in depth to a maximum of 617 m. These are some of the deepest holes drilled in the Cauchari-Olaroz basin to date. The Cauchari resource remains open at depth and to the south. By point of comparison the June 2018 resource estimate extended to only 300 m deep (with the exception of the deep sand intersections at that time).
Figure 1: Location of CAU07 in the NW Sector
*Note that CAU26 was drilled in a revised location compared to that shown in previous announcements
The technical information in this news release has been reviewed and approved on behalf of the Company by Mr Frits Reidel a Certified Professional Geologist and member of the American Institute of Professional Geologists, a “Qualified Person” as defined in NI 43-101.
ADVANTAGE LITHIUM CORP.
Per: “David Sidoo”
David Sidoo, President
Tel: 604.423.4499 | Fax: 604.432.4498
Email: “[email protected]”
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 four exploration projects in Argentina and has acquired a 75% interest in a fifth, 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.
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.