VANCOUVER, April 4, 2019 /CNW/ - Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX V: AAL) (OTCQX: AVLIF) is pleased to announce that it will immediately undertake a Pre-Feasibility Study ("PFS") on its Cauchari JV following the doubling of its mineral resource and successful conversion to Measured and Indicated categories announced on March 7th 2019i. Given such a significant resource increase, the PFS will now examine various alternatives to unlock additional value compared to the results from the 2018 Preliminary Economic Evaluation ("PEA"). A key outcome of the PFS will be delivery of a mineral reserve backed by an economic analysis demonstrating the viability of the project.
Callum Grant, P.Eng, Interim CEO of Advantage Lithium commented: "Having achieved such a significant increase in the mineral resource and before continuing with the Feasibility Study ("FS"), we believe that the prudent next step is to consider all the positive production alternatives now open to us. The PFS will select an optimal development path to follow based on a thorough examination of all production and processing options. The PFS will provide a mineral reserve and an economic analysis within a +/-25% accuracy based on realistic and reasonable economic and engineering inputs. We are also confident that the final PFS document will provide a solid basis for on-going discussions we are having with potential strategic partners."
The PFS will be completed to CIMM best practices and definitions as adopted in the NI43-101 Standards of Disclosure.
The Company expects to complete the PFS which is fully funded in Q3 2019. Final proposals from independent qualified consultants are currently being reviewed with kick-off study date expected shortly.
ADVANTAGE LITHIUM CORP.
Per: "Callum Grant"
Callum Grant, P.Eng, Interim Chief Executive Officer
Tel: 604.423.4499 | Fax: 604.423.4498
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) and the 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.
i Please see News Release of March 7th 2019 "Advantage Lithium more than doubles the Cauchari Project resource in Argentina to 4.8 Mt LCE Measured + Indicated and 1.5 Mt Inferred".