Alpha Lithium Undertakes Data Interpretation at Tolillar Lithium Project in Argentina
May 05 2020 - 9:00AM
Alpha Lithium Corporation (TSX.V: ALLI) (OTC:
ALLIF) (“Alpha” or the “Company”) is pleased to
announce it has commenced assessing all available historic data
regarding its recently acquired Salar de Tolillar Project
(“Tolillar” or the “Project”) located within the Salta provincial
boundaries of the Puna region of the northwestern part of
Argentina.
The 100% Company-owned 27,500-hectare property
lies in the heart of Argentina’s portion of the renowned “lithium
triangle” and neighbours multiple significant lithium projects
including Argentina’s largest multi-billion-dollar lithium
producer. Since 2012 several partial exploration programs have been
undertaken including surface brine sampling (2012), trench brine
sampling (2014), shallow borehole studies (2015), and a vertical
electrical sounding (“VES”) survey in 2017. The previous
preliminary programs offered encouraging results ranging up to 504
mg/L, with limited seismic data providing an intriguing although
largely incomplete understanding of the basin.
Brad Nichol, Company CEO notes, “Today’s
announcement highlights the combined efforts between our growing
team in Argentina under David Guerrero, our newly appointed Country
Manager, who has engaged trusted, local hydrogeological experts
with vast Argentine lithium exploration experience, including at
the Hombre Muerto, Cauchari and Olaroz salars, amongst others. The
team has sourced, referenced and is reviewing all available
regional and localised geophysical data. It has already been
determined that the historic data was previously shot on a very
small area of Tolillar Salar with underpowered equipment, thereby
limiting depth penetration. The data reviewed to-date, when
interpreted in conjunction with numerous regional factors that have
only become evident in recent years, is believed by Company experts
as offering a general geological hypothesis for favourable
hydrology with potential for depth and extent of lithium
mineralisation within the basin.”
Alpha reports all permits are in-place to
proceed with an advanced seismic survey, which it plans to conduct
upon conclusion of the historical data analysis and generation of
primary study locations. The Company intends to improve upon the
existing geological model using higher-powered equipment resulting
in deeper penetration combined with a highly detailed area-wide
program to include much larger, previously unexplored sections of
the massive salar. The program is designed to indicate specific
locations for the planning of future drill locations and concurrent
roads, base camp, storage depot and related infrastructure
requirements as part of the operational strategy to determine the
nature, extent and valuation of the Tolillar asset.
As noted previously, the Argentinian government
supports ongoing mining activities in Salta province as an
“essential activity” during the current COVID-19 pandemic. The
company continues to actively monitor the situation and is working
closely with its in-country team to implement preventative measures
to safeguard the health of its employees and contractors.
Qualified PersonMichael Rosko,
MS PG, SME #4064687, independent consultant of Alpha, is the
qualified person as defined in 43-101 who has reviewed and approved
the scientific and technical content in this release. ON
BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION
“Brad Nichol”
Brad Nichol President, CEO and Director
For more information:Alpha Lithium Investor
RelationsTel: +1 844 592 6337 info@alphalithium.com
About Alpha Lithium (TSX.V: ALLI) (OTC:
ALLIF)Alpha Lithium is a growing team of industry
professionals and experienced stakeholders focused on the
development of the Tolillar Salar. Together, we have assembled 100%
ownership of what may be one of Argentina’s last undeveloped
lithium salars, encompassing 27,500 hectares (67,954 acres),
neighboring multi-billion-dollar lithium players in the heart of
the renowned “Lithium Triangle”.
For more information visit:
https://alphalithium.com/ and follow us on Twitter or Facebook.
Forward-Looking StatementsThis news release
contains forward-looking information which is subject to a variety
of risks and uncertainties and other factors that could cause
actual events or results to differ from those projected in the
forward-looking statements. While these statements reflect
management's current plans, projections and intents, by their
nature, forward-looking statements are subject to numerous risks
and uncertainties, some of which are beyond the control of the
Company. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on these forward-looking
statements. The Company’s actual results, programs, activities and
financial position could differ materially from those expressed in
or implied by these forward-looking statements. The Company assumes
no responsibility to update or revise such information to reflect
new events or circumstances, except as required by law.
Neither the 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.
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