TSX Venture Exchange Symbol: AAL
VANCOUVER, Nov. 27, 2018 /CNW/ - Advantage
Lithium Corp. (the "Company" or "Advantage Lithium") (TSX
Venture: AAL) (OTCQX: AVLIF) is pleased to provide this general
update on activities at the Cauchari JV property located in Jujuy
Province, Argentina.
Highlights:
- The Phase III infill drilling and resource conversion program
is close to completion in the NW Sector and continues in the deep
sand unit in the SE Sector. The program is currently on track to
upgrade the current Inferred Resource to Measured and Indicated
Resources by early 2019.
- Drilling of holes CAU22, CAU25, CAU27 and CAU19 recently
completed in the SE Sector
- Drilling of holes CAU28 and CAU29 completed to extend the NW
Sector resource area further south, increasing it by ~20%. Drilling
identified the presence of an extensive (>300 m thick) sequence of sand and gravel in the
southern continuation of the NW Sector.
- Constant-rate pumping test underway in CAU11 to simulate
long-term production; CAU07 pumping test to begin within 2
weeks.
President & CEO Mr. David
Sidoo commented: "I am very pleased that the current
Phase III drilling program has expanded the footprint of the
resource area, as we rapidly progress towards updating the current
resource to Measured and Indicated categories. The current constant
rate pumping test that will be completed on 25th
November is progressing as planned and providing important
information on the basin hydrology. We are now well advanced with
the Project EIA and are in the final stages of selecting
engineering consultants to deliver the Definitive Feasibility Study
for the Project, the only brownfields lithium development in
South America outside those of the
major producers."
NW Sector Drilling Update
Drilling is close to completion in the NW Sector with holes
CAU28 and CAU29 (refer to Figure 1) completed since the last update
on activities when CAU24 was completed. CAU28 and CAU29 extend the
June 2018 resource area some 5 km
further to the south and increase the area for the update of the NW
Sector resource by approximately 20%.
CAU28 and CAU29 are located 2.6 km and 5.1 km, respectively,
south of CAU24. It should be noted that brine mineralisation
is still open to the south in Advantage properties. These drill
holes in the NW Sector have intersected an extensive sequence (over
300 m) of sand and gravel, which
appears to have high porosity and permeability, making it
attractive for future brine extraction. CAU23 is located in the NW
Sector between holes CAU15 and CAU24.
SE Sector Drilling Update
CAU25 and CAU27 have been completed along the eastern edge of
the SE Sector. These holes were completed at depths of 427 and
473 m, respectively and intersected a
sequence with some sandy material interbedded with halite and clay
units.
CAU19 has been completed in the southwest of the SE Sector to a
depth of 519.5 m. This hole
intersected the deep sand unit from 434
m to 519.5 m (a thickness of
>86 m), with sandy units
continuing at the end of the hole. CAU19 is close to the southern
boundary of the property and confirms the extension of the deep
sand into this area.
Pumping Tests
The constant rate pumping test is currently underway on test
production well CAU11 in the SE Sector, following completion of a
variable rate test to confirm the pumping rate for the constant
rate test. The constant rate test has been underway for 19 days and
will continue until at least November
25. Brine concentrations are monitored throughout the test,
in addition to water levels in the pumping well and a network of
surrounding observation wells. The final preparations are currently
underway for the CAU07 pumping test in the NW Sector.
The tests will provide additional information on aquifer
characteristics as an input to the three-dimensional groundwater
model that is being developed to estimate lithium reserves and to
develop a production schedule for the project.
Definitive Feasibility Study Consultant Selection
Proposals were received from four international engineering
companies in response to a request for proposal by the company for
the Definitive Feasibility Study ("DFS") engineering for all
aspects of the company's Cauchari project. The company is in the
final stages of selecting one of these companies for the DFS
engineering.
Environmental Impact Assessment
The company and consultants continue to advance the
Environmental Impact Assessment, with preparation of key chapters
for the EIA document underway.
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: 604.423.4499
Email: mailto: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