BRISBANE, Australia,
Dec. 13, 2018 /CNW/ -- Orocobre
Limited (ASX: ORE, TSX: ORL) ("Orocobre" or "the
Company") is pleased to announce that Advantage Lithium
Corp. ("Advantage Lithium") (TSX Venture: AAL) (OTCQX:
AVLIF) has engaged engineering consultants GHD, Chile S.A.
to commence early engineering geared towards the completion of a
Definitive Feasibility Study (DFS) on its flagship Cauchari Project
in Jujuy, Argentina. The DFS is
expected to be completed by 1H CY19.
Advantage Lithium hold 75% of the Cauchari JV. Orocobre owns
33.5% of Advantage Lithium's issued capital and 25% directly in the
joint venture.
The appointment of GHD follows encouraging Preliminary Economic
Assessment (PEA) outcomes and continued positive results from the
Phase III resource conversion program. The DFS will provide an
appropriate engineering design to produce a Class 3 cost estimate
consistent with American Association of Cost Engineers (AACE)
principles to build a standalone lithium plant producing
20 thousand tonnes per annum (Ktpa) of Lithium Carbonate
Equivalent. A report on this work will be prepared in accordance
with NI43-101 standards of disclosure and is scheduled for
completion in Q4 FY19.
Orocobre Managing Director & CEO Richard Seville commented: "I am very pleased
that the Advantage team are commencing the Cauchari Definitive
Feasibility Study having achieved excellent results from recent
work. The Cauchari Project is quickly becoming one of the most
advanced lithium brine development projects in South America, with similar chemistry to our
nearby Olaroz Lithium Facility."
The commencement of early engineering marks another key
milestone for the Cauchari Project's development following positive
PEA results. The Phase III drilling program is nearing completion,
culminating in 30-day pumping tests on main production targets in
the NW Sector and the SE Sector deep sand units. These results will
feed into an updated resource estimate which is targeted in
Q3 FY19 and expected to bring Cauchari's resources into the
Measured and Indicated categories.
Advantage Lithium have applied a rigorous process to identify
and select suitable partners to assist in the development of its
Cauchari project. In that process, GHD were selected from other
pre-qualified global engineering firms as the best fit for Cauchari
development plans, to complete the early engineering and establish
a project execution plan to achieve first production in Q3 CY21 and
full post ramp-up production in 2023.
Key Advantage Lithium Project Team Additions:
With the Cauchari Project advancing to the DFS and project
execution, Advantage Lithium has engaged the following key people
to the project core management team in Argentina:
- Carolina Carmona has joined the
project team as Environmental Services Manager to manage the
project permitting processes and provide oversight to the project
Environmental Impact Assessment (EIA) and other submissions, which
are well advanced. She will also supervise onsite environmental
management activities.
Carolina has extensive experience in the north of Argentina as a consultant, as well as working
for various mining companies and government agencies.
- Alex Caqueo has joined the project team as Senior Project
Scheduler to coordinate all aspects of the project development plan
and execution schedule. Alex has an engineering background and
extensive experience in project management working for Enthalpy,
Chile on various projects
including for Codelco, the major Chilean copper company.
- Dave Cross has joined as CFO
replacing Lindsay Murray. Dave is a
CPA, CGA and has over 21 years of accounting experience. In the
past Dave, has worked on and has extensive knowledge of complex
accounting and reporting formats in both the oil and gas and
specialty minerals sectors.
- Carlos Perez joins the Company
as site manager to oversee site and camp activities as the project
moves towards production. Carlos has extensive experience managing
mining project activities in the north of Argentina.
About GHD
GHD is one of the world's leading professional services
companies operating in the global markets of energy and resources,
water, environment, property and buildings, and transportation.
Established over ninety years ago and privately owned by its
employees, GHD delivers engineering, architecture, environmental
and construction services to public and private sector clients
across five continents and the Pacific region. Committed to
creating lasting community benefit, GHD connects the knowledge,
skill and experience of nearly 10,000 diverse people with
innovative practices, technical capabilities and robust
systems.
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
W: www.orocobre.com.au
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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.
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 33.5% interest in Advantage
Lithium. For further information, please visit www.orocobre.com
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SOURCE Orocobre Limited