Updated resource estimate and wellfield design
underway
VANCOUVER, Jan. 31, 2019 /CNW/ - 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.
Highlights:
- CAU07 30 day constant rate pumping test was carried out at a
rate of 22 l/s throughout the test; the pumping rate was limited by
the construction of the well.
- Results of brine analyses over the 30 days averaged 650 mg/l Li
and 4,970 mg/l K with Mg/Li of 2.2:1.
- The 30 day test showed no drawdown in piezometers located above
and at the top of the brine body. The dynamic level in the pumping
well showed 40 m of drawdown over the
test.
- An updated resource estimation is underway and will incorporate
the significantly greater drilling depths of the Phase III program
just completed.
- Preliminary design of production wellfields is underway for the
Feasibility Study, using the results of the long-term CAU07 and
CAU11 pumping tests.
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).
*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: 604.423.4498
Email: "info@advantagelithium.com"
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.
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