BRISBANE, Australia,
July 2, 2018 /CNW/ -- Orocobre
Limited (ASX: ORE, TSX: ORL) ("Orocobre" or "the
Company") is pleased to advise the NI43-101 Technical Report on
the resource upgrade of the Cauchari Lithium Project in Jujuy,
Argentina has been completed.
The report, prepared by FloSolutions S.A.C., has increased the
inferred resource to a volume of approximately 1,200 million cubic
metres of brine at average grades of 450 mg/l lithium and 4,028
mg/l potassium for 3.0 Mt of Lithium Carbonate Equivalent (LCE) and
is the basis for a Preliminary Economic Assessment to be completed
in
Q3 2018.
The report is available on the Orocobre website and
demonstrates:
- +6-fold increase of the inferred resource to 3.0 Mt LCE at
Cauchari at 450 mg/l Lithium
- The updated resource covers a significantly larger area and
extends to greater depth in the NW and SE Sectors
- Significant potential for additional resource expansion at
depth
- The brine has excellent chemistry for processing and the Mg/Li
ratio averages 2.5, very similar to the Olaroz operation
- Phase III drilling is underway to upgrade this inferred
resource and underlying brine to measured and indicated resources
for the Definitive Feasibility Study scheduled for completion in Q2
2019.
The evaluation program is being managed by joint venture 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 and 25%
directly in the joint venture.
For more information please contact:
Andrew Barber
Investor
Relations
Manager
Orocobre
Limited
T: +61 7 3871
3985
M:+61 418 783
701
E: abarber@orocobre.com
Qualified Person's/Competent Person's Statement
The
information in this report that relates to exploration reporting at
the Cauchari JV project has been prepared by Mr Frits Reidel. Frits
Reidel is a Certified Professional Geologist and member of
the American Institute of Professional Geologists. Frits Reidel is General Manager and Principal
with FloSolutions and is independent of Orocobre. Frits 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. Frits Reidel 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