BRISBANE, Australia, April
17, 2018 /CNW/ -- Orocobre Limited (ASX: ORE, TSX: ORL
) ("Orocobre" or "the Company") is pleased to provide an
update on the brine sampling of diamond core hole CAU17 in the NW
Sector of the Cauchari JV properties located in Jujuy Province,
Argentina.
The exploration program is being managed by JV partner
Advantage Lithium Corp. ("Advantage Lithium") (TSX
Venture: AAL) (OTCQX: AVLIF) who hold 75% of Cauchari.
Orocobre owns 29% of Advantage Lithium's issued capital.
Highlights:
- CAU17 drilled in the NW Sector intersected extensive gravel and
sandy sediments, similar to hole CAU18, which is located 2.6 km
further to the east
- Drilling has now confirmed the NW Sector contains sediments
with relatively high drainable porosity and permeability which
extend south from CAU17 and CAU18 through hole CAU07 to CAU16 and
CAU15 as shown in Figure 1
- Brine sampling in CAU17 averaged 571 mg/l Li and 4,488 mg/l K
in three samples taken in the lower part of the gravel sequence
between 177 m and 203 m depth. These samples have an average Mg/Li
ratio of 2.3:1, comparable to the nearby Olaroz project and other
drilling in the NW Sector
- Diamond drill hole CAU14 in the SE Sector is currently at a
depth of 445 m with the aim of
evaluating the continuation of the deep sand unit in the SE
Sector
- The Cauchari resource estimate is now expected to be completed
in mid-May
- Phase 3 drilling will start during May with new drilling
equipment being mobilised to site, targeting the deep
sand-dominated units in the SE Sector
NW SECTOR - CAU17 Drilling Results
CAU17 was drilled in the NW Sector, 2.6 km west of CAU18 for
which results were released on the 10th of April, 2018. CAU17 was
pre-collared with surface casing cemented to a depth of
140 m through the shallow fresh /
brackish groundwater of the Archibarca alluvial (gravel) fan that
overlies the deeper brine in this area. Brine is estimated to
extend from above 140 m depth to the
base of the hole at 237.5 m depth.
CAU17 intersected an extensive sequence of gravel and sand
dominated units in drill core from 146
m to 210 m depth, with gravel
and sand units intersected from surface in the pre-collar. A clay /
silt dominated unit was encountered near the bottom of the hole
between 210 and 237 m depth.
Brine sampling in CAU17 was conducted with a bailer device and
three samples were obtained within the gravel unit at 178, 185 and
203 m depth. The lithium
concentrations ranged between 549 and 606 mg/l and averaged 571
mg/l lithium and 4,488 mg/l potassium. The Mg/Li ratio of these
samples was 2.3:1, identical to the producing Olaroz project to the
north.
Brine chemistry results from CAU17 are very positive and suggest
brine with elevated lithium concentrations may extend to the base
of the outcropping sediments on the west of the Cauchari salar.
The brine body defined to date in the NW sector extends over a
distance of 14 km from CAU17 and CAU18 in the north to CAU15 in the
south as shown in Figure 1. All diamond core holes in the NW
Sector (CAU07 [completed as a rotary hole], CAU15, CAU16, CAU17 and
CAU18) have intersected significant intervals of sand and gravel
dominated units with a relatively high permeability that are
expected to support relatively high pumping rates and facilitate
future brine extraction.
Orocobre Managing Director / CEO Mr Richard Seville commented, "The exploration
programme being managed by our partner Advantage Lithium continues
to deliver very encouraging results. Drill hole CAU17 shows the
continuation of high brine grades and attractive brine chemistry in
the north of the NW Sector. Drilling in this area has now been
completed for resource estimation purposes and following completion
of drill hole CAU14 Advantage Lithium will deliver a new resource
estimate for the project."
SE SECTOR - CAU12 and CAU13 Results
Results have been received from core holes CAU12 and CAU13 in
the south of the SE Sector area. These diamond holes intersected a
sequence of halite and clay dominated units that are interbedded
with sand dominated units. Sand dominated units were
intersected in CAU12 from 358 m depth
to the base of the hole at 413 m, and
in CAU13 from 407 m depth to the end
of the hole at 449 m. These sand
dominated units are thought to correlate with the sand units
intersected in the base of rotary hole CAU11. The pumping test in
CAU11 was carried out at a flow rate of 19 L/s as reported in
February 2018.
Brine chemistry analyses from CAU13 averaged 435 mg/l lithium
and 4,088 mg/l potassium over the interval from 39 m to 281 m
depth; no samples were successfully obtained from the deeper sand
unit. Brine chemistry analyses of CAU12 averaged 305 mg/l
lithium and 3,048 potassium from the depth interval between
25 m to 169
m; no samples were successfully obtained from the deeper
sand unit. The Mg/Li ratio of these brines averages 2.7:1 and 2.5:1
respectively, marginally higher than in holes further to the north.
Additional deeper drilling is planned for the SE Sector to provide
additional information on the deeper sand unit.
Diamond Drilling of
CAU14
Diamond hole CAU14 has reached a depth of 445 m. Conclusion of CAU14 will complete Phase 2
of the work program at Cauchari and will be the last hole to be
included in the upcoming resource estimate.
Phase 3 drilling will start during May
2018 with new drilling equipment being mobilised to
site. This program will target further definition of the deep
sand-dominated units in the SE Sector which are currently at depths
beyond the capability of the current drilling equipment.
For more information please contact:
Andrew Barber
Investor
Relations Manager
T: +61 7 3871
3985
M: +61 418 783
701
E: abarber@orocobre.com
Competent Persons Statement
The information in this
report that relates to exploration reporting at the Cauchari JV
project has been prepared by Mr Murray
Brooker. Murray Brooker is a
geologist and hydrogeologist and is a Member of the Australian
Institute of Geoscientists. Mr Brooker is an employee of Hydrominex
Geoscience Pty Ltd and is independent of Orocobre. Murray has
sufficient relevant experience to qualify as a competent person as
defined in the 2012 edition of the Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves. He is
also a "Qualified Person" as defined in NI 43-101. Murray Brooker consents to the inclusion in this
announcement of this information in the form and context in which
it appears.
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 29% interest in Advantage
Lithium.
For further information, please visit www.orocobre.com
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SOURCE Orocobre Limited