VANCOUVER, June 29, 2018
TSX Venture Exchange Symbol: AAL
VANCOUVER, June 29, 2018 /CNW/ - Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to file the NI43-101 report on the resource upgrade of the Company's flagship Cauchari Lithium Project in Jujuy, Argentina. The update, prepared by FloSolutions, has increased the inferred resource to a volume of approximately 1,200 million cubic metres of brine at average grades of 450 mg/l lithium and 4,028 mg/l potassium for 3.0 Mt of Lithium Carbonate Equivalent (LCE) and is the basis for the Preliminary Economic Assessment (PEA) to be completed early in Q3 2018.
David Sidoo, the Founder and CEO of Advantage Lithium, commented on the significant resource upgrade for the Cauchari Project: "In the span of just over a year, we have delivered a +600% increase to the lithium resource at our Cauchari Project. This achievement reflects both the world-class nature of our project as well as the expertise and focus of the project development team in Argentina. Our Phase III program, already underway, will upgrade the resource to Measured and Indicated status and aims to expand the resource further."
- +6-fold increase of the inferred resource to 3.0 Mt LCE at Cauchari at 450 mg/l Lithium
- The updated resources cover a significantly larger area and extend to greater depths in the NW and SE Sectors
- Significant potential for additional resource expansion at depth
- The brine has excellent chemistry for processing and the Mg/Li ratio averages 2.5, very similar to Orocobre's Olaroz project
- Phase III drilling is underway to upgrade this Inferred Resource and underlying brine to Measured and Indicated resources for the DFS scheduled for completion in Q2 2019
The technical information in this news release has reviewed and approved on behalf of the Company by Mr Frits Reidel, a "Qualified Person" as defined in NI 43-101. Full details of the drilling results, resource estimation methodology and quality assurance/quality control are provided in the NI-43-101 technical report.
ADVANTAGE LITHIUM CORP.
David Sidoo, President
About Advantage Lithium Corp.
Advantage Lithium Corp is focused on developing its 75% owned Cauchari lithium project, located in Jujuy, Argentina. The Company also owns 100% interest in three additional lithium exploration properties in Argentina: Antofalla, Incahuasi, and Guayatayoc. The Company is headquartered in Vancouver, British Columbia and trades on the TSX Venture Exchange (TSX-V:AAL) OTCQX Best Market in the U.S. (OTCQX: AVLIF).
Further information about the Company can be found at www.advantagelithium.com.
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
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David Sidoo, President, Tel: 604.343.3760 | Fax: 604.683.1585, Email: email@example.comCopyright CNW Group 2018