BRISBANE, Australia,
March 6, 2018 /CNW/ -- Orocobre
Limited (ASX: ORE, TSX: ORL) ("Orocobre" or "the
Company") is pleased to provide an update on the results of the
pumping test conducted on CAU07 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 33% of Advantage Lithium's issued capital.
Highlights:
- Positive results from CAU07 four-step pumping test suggest
rates as high as 36 l/s are achievable
- CAU07 constant rate pumping test conducted at 17 l/s over 48
hours with flow limited by the pump capacity
- Good brine chemistry with 19 samples taken over the pumping
test averaging 601 mg/l Lithium and 4,853 mg/l Potassium with a
Mg/Li ratio of 2.6:1
- Hole CAU13 in the SE Sector of Cauchari successfully
intersected a sequence of sandy sediments below 400 m; adding additional brine volume in this
area for the upcoming resource estimate
Cauchari NW Sector – CAU07 pumping test results
CAU07 was drilled to a depth of 343
m in the north of the NW Sector of the property. This drill
hole intersected some clay units and material thicknesses of sand
and gravel dominated units with favourable porosity and
permeability characteristics. The hole has screened intervals
between 135 m and 325 m depth.
A variable flow rate pumping test (step test) was conducted on
the well at flow rates from 3.5 to 17 l/s, limited by the capacity
of the pump used in the pumping test. The well has a high specific
capacity and the test suggests that a flow rate of approximately 36
l/s may be feasible. The pumping test results confirm the
excellent hydraulic characteristics in the NW Sector which are
favourable for future brine extraction. The constant rate pumping
test was conducted at a flow rate of 17 l/s -20 l/s over a period
of 48 hours. 19 brine samples were taken during the pumping
test with the average concentration of 601 mg/l Lithium and 4,853
mg/l Potassium and a low Mg/Li ratio of 2.6:1. The Mg/Li ratio is
very similar to that in the producing Olaroz lithium project.
All brine analyses were completed in a commercially accredited
laboratory in Argentina,
accompanied by QA/QC samples, comprising brine standards and
duplicates1. This information confirms the importance of
the sand dominated units that Advantage Lithium has been exploring
for.
Orocobre Managing Director Mr. Richard
Seville commented, "The exploration programme being managed
by our partner Advantage Lithium is moving ahead with strong
results. This latest pump test shows high grades, high flow rates
and confirms the potential of the north west sector. Hole
CAU07 is the first pump test in this area and the results reflect
the quality of the sandy aquifers present there. Drilling continues
in both the NW and SE Sectors and we look forward to producing an
upgraded resource for the NW and SE Sectors once the drilling is
completed."
Cauchari SE Sector - CAU013 drilling
CAU13 was drilled to a depth of 449
m in the west of the SE Sector of the project. CAU13
intersected a sequence of clay, silt and some sand and halite to
400 m depth and a more sandy interval
from 400 m to the end of the hole. It
is not clear to what depth the deeper sand unit extends at this
drilling location. The drill rig has now moved to deepen hole
CAU12, which is located 2 km to the SW. Brine analyses are awaited
from drilling of CAU13 and will be released when they become
available.
Additional Cauchari drilling
Upon completion of diamond hole CAU18 in the NW Sector the rig
will drill hole CAU17 2.5 km further to the west. In the SE Sector
the second diamond drill rig will deepen CAU12 to explore for the
deep sand and gravel unit and then commence drilling CAU14 located
some 5 km further to the northeast.
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 35% interest in Advantage
Lithium.
For further information, please visit www.orocobre.com
1 Assaying completed at Alex Stewart Laboratories in
Jujuy city, Argentina under strict
QA/QC protocols.
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SOURCE Orocobre Limited