- Initial pump tests from AAL Cauchari drilling average 678mg/litre
- Three drill rigs now testing for extensions to existing NI43-101 resource (December 2016)1
- Senior technical appointments enhance capability
BRISBANE, Australia, Sept. 19, 2017 /PRNewswire/ -- Orocobre Limited (ORE: ASX, ORL: TSX) (Orocobre) today received notice from 35% owned joint venture partner Advantage Lithium (TSXV: AAL, Advantage) of initial test results from its flagship lithium property, located in the Cauchari Salar of Jujuy province in NW Argentina.
Initial results from the first set of composite brine samples from hole CAU10 in the SE sector of Cauchari (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. Further results from this hole will be available in coming weeks.
Hole CAU10 is part of a two phase program totaling 17 holes which will lead to a scoping study. Three drill rigs are now engaged on this program with work currently progressing on CAU07 and CAU09.
Orocobre Managing Director and CEO, Richard Seville said: "The execution of this program over winter is a testament to the dedication and competence of the Advantage team. Pleasingly, these initial results demonstrate good brine concentrations and chemistry similar to that at Olaroz."
Advantage Lithium is increasing its interest in the project from the current 50% to 75% through the expenditure of US$5m or by completing a Feasibility Study. Orocobre holds the remaining interest.
The Cauchari project lies approximately 20 kilometres south of Orocobre's producing Olaroz Lithium facility.
Senior Technical Appointments
Advantage Lithium also strengthened its' technical capability with the addition of Andy Robbs as Technical Advisor and Frits Reidel as a consulting Independent Qualified Person. Andy has held significant technical and management roles with companies such as BHP Billiton and AMC Consulting. Andy was VP South America and Project Director for Enirgi Group Corporation where he had responsibility for over 200 Operational and Project staff and was instrumental in the completion of the NI43-101 compliant Definitive Feasibility Study for the Rincon lithium brine project located in Salta.
Fritz and his team at FloSolutions have vast experience in brine resource evaluation, salt-lake exploration, hydrogeology, drilling methods, well construction, and testing gained from working on numerous projects such as Olaroz, Cauchari (Lithium Americas) and Maricunga.
Please see the attached release from Advantage Lithium for further details.
About Orocobre Limited
Orocobre Limited (Orocobre) is a dynamic global lithium carbonate supplier and an established producer of boron.
Orocobre is dual listed on the Australia and Toronto Stock Exchanges (ASX: ORE), (TSE: ORL). Orocobre's operations include its Olaroz Lithium Facility in Northern Argentina, Borax Argentina, an established Argentine boron minerals and refined chemicals producer and a 35% interest in Advantage Lithium.
For further information, please visit www.orocobre.com.
Original Advantage Lithium release follows:
Advantage Lithium Reports Initial Pump Test Averaging 678 mg/litre From Cauchari JV Project
Senior Technical Appointments Announced
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 20163.
Initial results from the first set of composite brine samples from hole CAU10 in the SE sector (see hole location in Figure 2 below) have returned an average lithium grade of 678 milligrams per liter (mg/l) with sample results ranging from 585 to 724 mg/l lithium4 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."
- Rotary hole CAU10 has been developed and constructed with filter sections to 340m depth. Samples collected during a preliminary pump test returned an average Li grade of 678 mg/l; further results from this pump test will be available later this week. The results from this well are consistent with the lithological sequence intersected in the halite (salt) core of the Cauchari salar. Initial packer test results are expected in October. The rig has now mobilised further south to CAU08.
- Rotary hole CAU09 was completed on September 5th to the 400m target depth at a diameter of 12". The initial pilot hole was subsequently reamed out to accommodate installation of 8" filter/casing sections in the upper section of the hole. Preliminary pump and sampling tests will begin shortly with initial results expected this month. This will be followed by systematic double-packer sampling of individual filter sections. Packer sample results are expected in October.
- A diamond drill (DDH) rig was mobilised to site on August 25th, initially collaring 12m cemented surface casings on exploration holes in the SE sector.
- The DDH rig has now moved on to hole CAU07 in the NW sector of the property where drill core is being collected from sediments below the Archibarca alluvial fan, a key target of the Cauchari JV exploration program. An initial double-packer sample was taken at a depth of ~180m, with additional sampling as the hole advances. Packer sampling results are expected in October.
- All five rotary holes in the work program are expected to be completed and sampled before year-end 2017 along with approximately 5 of the up to 12 diamond drill holes designed as monitoring and/or exploration holes. Drilling of the remaining exploration holes will continue in 2018.
The Company is also pleased to welcome senior additions to the Company's technical team as follows:
- Mr. Andy Robb joins as Technical Adviser, Projects. Andy brings significant senior technical and management depth to the Cauchari JV. In addition to senior roles with BHP Billiton and AMC Consulting, during the period 2013-16 Andy was VP South America and Project Director for Enirgi Group Corporation. In this role Andy had responsibility for over 200 Operational and Project staff and was instrumental in the completion of the NI43-101 compliant Definitive Feasibility Study for the Rincon lithium brine project located in Salta. Following his leadership/supervision of successful exploration campaigns (drilling and pump testing) over the study period 2013 to 2015, Measured and Indicated resources increased significantly to 3.5 Mt LCE (plus Inferred resource to 4.8 Mt LCE) for the project with 50,000tpa LCE nameplate capacity. As we move into 2018, Andy will play a key role in advancing our project through the scoping study and future engineering phases of development.
- Mr. Frits Reidel, principal of the consulting firm FloSolutions, has been commissioned to provide on-going assistance to the Company as its Independent QP to ensure industry best practice related to drilling, testing, sampling and related QA/QC procedures on the current AAL exploration program which will lead to an updated mineral resource estimate in early 2018. Based in Santiago, Chile, Frits and his team have vast experience in brine resource evaluation including the practicalities of salt-lake exploration, hydrogeology, drilling methods, well construction, and testing gained from working on numerous projects (for examples, Olaroz, Cauchari [Lithium Americas], and Maricunga) in the Lithium Triangle of Argentina and Chile since 1992. Frits Reidel is a Qualified Person and independent of AAL as defined under NI43-101.
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.
David Sidoo, President
Tel: 604.343.3760 | Fax: 604.683.1585
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.
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.
3 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.
4 Assaying completed at Alex Stewart Laboratories in Jujuy city, Argentina under strict QA/QC protocols.
View original content with multimedia:http://www.prnewswire.com/news-releases/advantage-lithium-drill-results-from-cauchari-and-new-appointments-300522549.html
SOURCE Orocobre Limited