Vancouver, BC / Globe Newswire / June 4, 2018 / Argentina Lithium & Energy Corp. (TSX-V: LIT, FSE: OAY2 (WKN: A0RK7E), OTC: PNXLF), “Argentina Lithium” or the “Company”) is pleased to announce that it has commenced a CSAMT geophysical survey program to map deeper stratigraphic units (layers) in order to delineate additional drill targets at its 100%-controlled Arizaro Lithium Brine Project in Salta Province, Argentina.
“From the outset our model indicated that lithium brine targets in the centre of the Arizaro basin would be deep,” said Nikolaos Cacos, President and C.E.O. “Our initial program was limited to about 400 metres depth and it did not reach the aquifer.This survey will give us a better model of the depths below 500 metres so we that can plan a follow-up drill program.”
The initial 3-hole drill program completed in 2017 encountered low levels of brine at depths up to 356 metres, and individual samples returned up to 257 mg/L lithium and 14,653 mg/L potassium.Hole AR-01 ended at 398 metres in sand units considered promising for hosting a brine aquifer.(See News Release dated November 14th 2017, filed on SEDAR).
In addition to mapping deep stratigraphic units, the survey will provide additional information to interpret subsurface characteristics, including lithology, basement geology, faults, weak or weathering zones, depression zones, groundwater level, and brine bearing formations.
The survey will consist of three East-West lines, each 13.5 kilometres long, plus two North-South lines of 10 and 20 kilometres each. The CSAMT sounding will have a spacing of 500 to 1000 metres. The investigation depths of the CSAMT method in this environment should provide information below 500 metres from the surface.
The survey will be completed by the technical staff of GEC geophysical company using the STRATAGEM EH-4 equipment which provides high-resolution two-dimensional images of geologic structures by detecting and mapping variations in subsurface conductivity / resistivity. STRATAGEM EH-4 uses the magnetotelluric (MT) method to measure subsurface conductivity. The magnetotelluric method is based on the fact that the ratio of the magnetic to electric fields (known as the impedance) at a given frequency is constant for a constant resistivity. Natural signal sources, such as lightning activity, can be measured to determine this ratio. Unfortunately, natural signals are sometimes not available at the time, frequency, and amplitudes needed. Stratagem’s hybrid-source technique helps overcome this problem. Hybrid source uses a combination of natural MT signals and man-made transmitter signals. Any available natural background signals are used in the entire frequency band while the STRATAGEM transmitter is used to provide additional high-frequency signals in the range of 1 k Hz to 70 k Hz where natural signals are weak.
Incahuasi Lithium Project Update
On March 13th, 2018, the Company announced the commencement of its first drill program at the Incahuasi salar.The program was budgeted to include up to 4 diamond drill holes to depths of approximately 400 metres. The holes are designed to test two highly conductive domains identified by a Vertical Electrical geophysical survey (VES), and interpreted as brine bodies, along 12 kilometres parallel to the long axis of the salar.To date, two holes have been completed to depths of 300 and 190 metres respectively.The third hole is still in progress, and has passed 200 metres depth.Brine samples are being submitted for analysis on a batch basis, and results will be published at the end of the program when all analytical results are received and interpreted.
About the Arizaro Lithium Brine Project
The Company holds, or has under application, over 13,000 hectares, and has the option to earn a 100% interest in an additional 20,500 hectares on the Arizaro Salar, the largest in Argentina and third largest in the “Lithium Triangle”. The Arizaro Salar benefits from a strategic location for infrastructure, including: a railway that connects to the deep water port of Antofagasta; nearby advanced mining projects that are expected to bring significant development of access routes and power; and the availability of water for development.
About the Incahuasi Lithium Brine Project
The Incahuasi Brine Project includes 100% interest in 25,500 hectares covering the entire Salar de Incahuasi in the northwest of Catamarca Province, in the southern half of the "Lithium Triangle". Access to the Incahuasi salar is by gravel road, approximately 34 kilometres southwest from the town of Antofagasta de la Sierra. The geological environment at Incahuasi is similar to other salars in the Puna region where lithium and potash are found.
Qualified Person
The work programs at the Arizaro and Incahuasi Projects have been undertaken under the supervision of David Terry, Ph.D., P.Geo., a Director of the Company and a Qualified Person as defined in National Instrument 43-101. The contents of this news release have been reviewed and approved by Dr. Terry.
For additional information on the projects please see the Company website www.argentinalithium.com .
ON BEHALF OF THE BOARD
“Nikolaos Cacos”
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Nikolaos Cacos, President, CEO and Director
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@argentinalithium.com
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This news release may contain forward-looking statements.Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements.We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.