BRISBANE, Australia,
Jan. 31, 2019 /CNW/ -- Orocobre
Limited (ASX: ORE, TSX: ORL) ("Orocobre" or "the
Company") is pleased to provide the following update on the
completion of pumping test activities at the Cauchari JV property
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 33.5% of Advantage Lithium's issued capital and 25%
directly in the joint venture.
Highlights:
- CAU07 30 day constant rate pumping test was carried out at a
rate of 22 l/s throughout the test; the pumping rate was limited by
the construction of the well
- Results of brine analyses over the 30 days averaged 650 mg/l Li
and 4,970 mg/l K with Mg/Li of 2.2:1
- The 30 day test showed no drawdown in piezometers located above
and at the top of the brine body. The dynamic level in the pumping
well showed 40 m of drawdown over the
test.
- An updated resource estimation is underway and will incorporate
the significantly greater drilling depths of the Phase III program
just completed
- Preliminary design of production wellfields is underway for the
Feasibility Study, using the results of the long-term CAU07 and
CAU11 pumping tests.
Orocobre Managing Director and CEO Mr Martín Pérez de
Solay commented, "The CAU07 test results confirm the excellent
characteristics of the NW Sector for future brine production, both
in terms of lithium concentration and pumping characteristics. The
joint venture is currently conducting an update of the project
resource estimate with results from the recently completed
drilling, concurrently with preliminary design of production well
fields for the project Feasibility Study. We look forward to
providing this information to shareholders once it is
completed."
CAU07 Pumping Test
The 30 day constant rate pumping test was completed on test
production well CAU07 in the NW Sector in mid-January. The pumping
test was carried out at a constant rate of 22 l/s with a drawdown
of 40 m. Assays received for the 30
days of the test averaged 650 mg/l Li and 4,970 mg/l K, with a
Mg/Li ratio of 2.2:1. The CAU07 pumping rate is limited by well
construction constraints and higher pumping rates are expected in
future production wells based on the observed aquifer conditions.
Brine samples were collected at regular intervals during the test
and showed no significant variation over the test, with
concentrations of between 642 and 659 mg/l lithium.
Updated Resource Estimation and Preliminary Wellfield
Design
An update to the project resource estimate is currently underway
and incorporates all the information from the 26 exploration and
test production wells that were drilled as part of the Phase II and
Phase III exploration programs. During the Phase III program the
resource area was extended to the south and in depth to a maximum
of 617 m. These are some of the
deepest holes drilled in the Cauchari-Olaroz basin to date.
The Cauchari resource remains open at depth and to the south.
By point of comparison the June 2018
resource estimate extended to only 300
m deep (with the exception of the deep sand intersections at
that time).
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. Mr 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. Mr Brooker 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. Mr 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