Advantage Lithium commences Feasibility Study and continues to strengthen its project team in Argentina
TSX VENTURE: AAL
VANCOUVER, Dec. 12, 2018 /CNW/ - Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX Venture: AAL) (OTCQX: AVLIF) is pleased to announce that it has engaged GHD, Chile S.A. to complete early engineering geared towards the completion of a Feasibility Study (FS) to be completed by June 2019 on its flagship Cauchari Project in Jujuy, Argentina. This follows positive PEA outcomes and continued positive results in the phase III resource conversion program, on schedule to support the Feasibility Study delivery on time. The Feasibility Study will provide an appropriate engineering design to produce a Class 3 cost estimate (consistent with AACE principles) to build a standalone plant for 20 Ktpa of final Lithium product. A report on this work will be prepared in accordance with NI43-101 standards of disclosure and is scheduled for completion in June 2019.
David Sidoo, Founder and CEO, commented ". We are very pleased to commission GHD as engineering consultants to undertake this work, given their extensive expertise and current experience in this basin. With this engagement and with the benefit of experience from the Olaroz Lithium Facility, Advantage can proceed expeditiously through to the Feasibility Study, eliminating the need for an intermediate Preliminary Feasibility Study. As a result we can continue to fast-track the development of Cauchari by leveraging technical expertise and basin knowledge gained with our partner Orocobre. Furthermore, we are benefitting from the well-developed relationships that our partner has with local communities and government."
"I am also very pleased with the team that VP of Project Development, Andy Robb, has assembled. I believe we have put together a team that has the necessary experience to develop a project of this magnitude in the timeframe we envisage. The team has the proven technical, and management skills to make this a highly successful project for our shareholders and stakeholders in Jujuy Province, Argentina."
Andy Robb, VP of Project Development, commented "The commencement of the Cauchari early engineering marks another key milestone in the Cauchari Project development following the PEA. We have almost completed our intensive phase III drilling program which is culminating in 30-day pumping tests on our main production targets in the NW Sector and the SE Sector deep sand. The results will feed in to an updated resource estimate in Q1 2019, which is expected to bring our resources into the Measured and Indicated categories. We are now analysing our test results, along with our QP Flosolutions Chile, as input to the dynamic groundwater flow model, which in combination with the feasibility study engineering and economic assessment will define the brine reserve for the project."
Selection of Feasibility Study Engineering Consultants
Advantage applied a rigorous process to identify and select suitable partners to assist in the development of its Cauchari project. In that process, GHD were selected from other pre-qualified global engineering firms as the best fit for Advantages' development plans, to complete the early engineering and establish a project execution plan to achieve first production in Q3 2021 and full post ramp-up production in 2023.
GHD is one of the world's leading professional services companies operating in the global markets of energy and resources, water, environment, property and buildings, and transportation.
Established over ninety years ago and privately owned by its employees, GHD delivers engineering, architecture, environmental and construction services to public and private sector clients across five continents and the Pacific region. Committed to creating lasting community benefit, GHD connects the knowledge, skill and experience of nearly 10,000 diverse people with innovative practices, technical capabilities and robust systems. www.ghd.com
Building Capability – Key Project Team Additions
With the project advancing to the Feasibility Study and towards project execution, the Company is pleased to welcome the following key people to the project core management team in Argentina:
Carolina Carmona has joined the group as Environmental Services Manager to manage the project permitting processes and provide oversight to the project environmental impact assessment (EIA) report and other submissions, which are well advanced. She will also supervise on-site environmental management activities undertaken by the Company. Carolina has extensive experience in the north of Argentina as a consultant, as well as working for mining companies and government agencies.
Alex Caqueo has joined the team as Senior Project Scheduler to co-ordinate all aspects of the project development plan and execution schedule. Alex has an engineering background and has extensive experience in project management working for Enthalpy, Chile on various projects including for Codelco, the major Chilean copper company.
Dave Cross, has joined as CFO replacing Lindsay Murray. Mr Cross is a CPA, CGA and has over 21 years of accounting experience. In the past Dave, has worked on and has extensive knowledge of complex accounting and reporting formats in both the oil and gas and specialty minerals sectors.
Carlos Perez joins the Company as site manager to oversee site and camp activities as the project moves towards ultimate delivery. Carlos has extensive experience managing mining project activities in the north of Argentina.
The technical information in this news release has been reviewed and approved on behalf of the Company by Mr Frits Reidel a Certified Professional Geologist and member of the American Institute of Professional Geologists, a "Qualified Person" as defined in NI 43-101.
ADVANTAGE LITHIUM CORP.
Per: "David Sidoo"
David Sidoo, President
Tel: 604.343.3760 | Fax: 604.423.4498
About Advantage Lithium Corp.
Advantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. The common shares of the Company are listed on the TSX Venture Exchange (TSX-V:AAL), and the Company is also traded on the OTCQX Best Market in the U.S. (OTCQX: AVLIF). The Company has acquired a 100% interest in four exploration projects in Argentina and has acquired a 75% interest in a fifth, called Cauchari. The Cauchari project is located just 20 km south of Orocobre's flagship Olaroz Lithium Facility.
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.