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CNW Group Orocobre Limited (ORE: ASX, ORL: TSX) (Orocobre) is pleased to provide further drilling results announced by Advantage Lithium Corp. ("Advantage Lithium", TSXV:AAL, OTCQX: AVLIF, 35% owned by Orocobre) with initial sampling from CAU07 and CAU16 holes averaging 635 mg/l and 619mg/l lithium respectively. Details are provided in the attached release from Advantage Lithium with updated drill locations. Cauchari JV Drilling UpdateExcellent Initial Results in First Two NW Sector Holes CAU07 brine 635 mg/l Lithium and CAU16 brine 619 mg/l Lithium Vancouver, British Columbia, November 7, 2017 - Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to provide this update on the first sample results from CAU07 and CAU16 in the previously undrilled NW Sector of the Cauchari JV property located in Jujuy Province, Argentina. Highlights: -- Brine body discovered with high Lithium concentrations in NW Sector, where there was no previous drilling -- Initial samples from CAU07 returned an average of 635 mg/l Lithium and 4,772 mg/l Potassium at a depth of 236 m -- Initial samples from CAU16 between 169 and 199 m averaged 619 mg/l Lithium and 4,878 mg/l Potassium -- Samples from both holes show low Mg/Li ratios averaging 2.0:1 and 2.3:1 respectively -- Diamond drilling encountered extensive sandy sediments in both holes, suggesting high porosity and good permeability characteristics making it attractive for brine extraction -- Additional drilling is planned for resource definition in the NW Sector and to assess brine flows -- Diamond hole CAU16 located 4.5 km south of CAU07 further opens up the potential of the NW Sector. President & CEO Mr. David Sidoo commented: "Initial high grade results of 635 and 619 mg/l Lithium amid a thick sequence of sandy sediments in the NW Sector confirm the potential of this highly prospective area to be a fast track lithium development project. Additional drilling will be planned to follow up CAU07 and CAU16 to conduct systematic sampling and define new resources in this area which is located immediately south of the Orocobre Olaroz project and adjacent to the SQM/LAC brine resource. This is very positive news for the scoping study planned on this project which will commence in 2018." Mr. Sidoo further commented "Results of this caliber, will allow us to consider the most appropriate and fastest path to production with existing infrastructure and access to suppliers and contractors who have worked on South America's two most recent lithium projects". CAU07 Drilling Results The initial lithium concentration at a depth of 236 m averaged 635 mg/l Li and 4,772 mg/l K, with a Mg/Li ratio of 2:1 from three samples (a primary sample, a check sample and a field duplicate taken at this depth using a bailer). Systematic brine sampling is planned and results will be announced when available. Diamond drilling continued to a depth of 275 m, providing core samples for porosity test work, an important component of the upcoming resource estimation. CAU07 will now be deepened using a rotary drill, with the objective of reaching the underlying bedrock and conducting systematic brine sampling throughout the well, in addition to pumping tests for assessment of the brine flow. CAU07 is located in the eastern part of the NW Sector, in close proximity to the brine resource of SQM/Lithium Americas Corp. Additional drilling will be undertaken in this area to allow further sampling of brine to support resource estimation. CAU16 Drilling Results Initial results have been received from samples between 169 and 199 m depth, averaging 619 mg/l Lithium and 4,878 mg/l Potassium, with individual sample results ranging from 564 to 648 mg/l Lithium and 4,460 to 5,069 mg/l Potassium. The average Mg/Li ratio is also low at 2.3:1, similar to that in CAU07 as well as the Orocobre Olaroz project and SQM/Lithium Americas Cauchari project. Additional sample results are awaited from batches of samples above and below this interval of the hole. Diamond drilling has now reached a final depth of 320 m and systematic sampling of the hole will now be completed using a packer or bailer sampling device. Once sampling is complete the hole will be installed as a monitoring well. Drilling intersected a significant sequence of sandy material from surface, with gravels encountered deeper in the hole, showing many similarities to CAU07. These results confirm the presence of attractive concentrations of lithium brine in the NW Sector Cauchari JV properties, opening up the resource potential of this area. CAU08 and CAU11 progress In the SE sector rotary holes CAU08 and CAU11 reached a depth of 400 m and will be extended to explore for deep sand units described in the adjacent resource area of SQM/Lithium Americas Corp. Intersection of deep sand units in the SE Sector could add significant additional brine; with important sand units also noted in the deeper drilling conducted at Olaroz (refer to Orocobre announcement 23 October 2014, Large Exploration Target Defined Below Current Resource - which outlines the results of deeper drilling there). |