Vancouver, British Columbia, September 19, 2017 – Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to announce further positive progress with its Cauchari JV drilling program where three drill rigs are now expanding the depth and lateral extent of the existing NI43-101 mineral resource dated December 20161.
Initial results from the first set of composite brine samples from hole CAU10 in the SE sector (see hole location in Figure 1 below) have returned an average lithium grade of 678 milligrams per liter (mg/l) with sample results ranging from 585 to 724 mg/l lithium2 and excellent Mg/Li ratios averaging 2.1/1 These initial 17 samples were collected as part of a preliminary pumping test conducted on the hole; a second set of samples from this hole are due later this month. Systematic double-packer sampling of individual filter sections will proceed shortly over the total 340m depth of the developed well.
Meanwhile, the second rotary drill rig has completed hole CAU09 also in the SE sector approximately 2.5km from CAU10. Filter and casing sections along with gravel pack have been installed to the 400m depth limit of the hole. Cleaning and development are underway prior to a preliminary pumping test and sampling scheduled for the next few days.
The third drill rig, a diamond drill machine, is currently set up on hole CAU07 in the NW sector of the property where a rotary pre-collar to 130m was completed as planned in May 2017. CAU07 will be cored at HQ diameter to a planned target depth of 400m, to provide sample for porosity and other aquifer measurements. Brine samples will be collected using a packer or bailer system at intervals down the hole.
Said President & CEO Mr. David Sidoo: “We are pleased to have completed the first holes of the program, working on site during the difficult winter period. The initial assay results from CAU10 are most encouraging and we look forward over the next few weeks to more results from the systematic sampling of CAU10 and the other holes in the program."
The Company is also pleased to welcome senior additions to the Company’s technical team as follows:
President & CEO Mr. David Sidoo said “With the addition of Andy and Frits to our current team we have added senior expertise with demonstrated success in developing large-scale lithium projects. We welcome Andy and Frits to the Advantage Lithium team, where we look forward to working together to develop the Cauchari lithium project. This project in the heart of the lithium triangle is located between the producing Olaroz lithium plant and the pre-development lithium project of Lithium America and has excellent potential to be developed in association with Orocobre or independently.”
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.
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]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.
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1 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). Source: Independent Technical Report, Murray Brooker et. al, December 2016.
2 Assaying completed at Alex Stewart Laboratories in Jujuy city, Argentina under strict QA/QC protocols.