Advantage Lithium On Schedule to Complete Pre-Feasibility Study On Its Cauchari JV Property
TSX VENTURE: AAL
VANCOUVER, July 25, 2019 /CNW/ - Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX-V: AAL) (OTCQX: AVLIF) is pleased to confirm positive progress with its Pre-Feasibility Study ("PFS") on the Cauchari JV project in Argentina (75% Advantage Lithium, 25% Orocobre Ltd.). The PFS remains on schedule for completion in early September with release of the NI43-101 Independent Technical Report within 45 days.
Following the successful 2018 drill campaign and substantial increase in contained mineral resource to 4.8Mt LCEi in Measured and Indicated categories and 1.5Mt LCE in Inferred category, the PFS was commissioned in May 2019 to assess the optimal production and processing profile to deliver maximum value from the expanded mineral resource. The PFS will include a mineral reserve, Opex and Capex within +/-25% accuracy, and financial analysis based on realistic and reasonable economic and engineering inputs.
The Company is also confident that the final PFS document will provide a solid basis for on-going funding discussions. Over the past few months the Company has engaged with several companies interested in the Cauchari JV project. These parties have completed their due diligence including site visits and technical review. With the completed PFS in hand by September, discussions with these and other interested parties will continue.
"Completion of the PFS will mark a significant milestone for the Company", commented Callum Grant, P.Eng, Interim CEO. "It has provided the opportunity to assess alternative production and processing options to an improved level of technical accuracy compared to the 2018 PEA with the objective of unlocking maximum value from the asset".
The technical content of this News Release has been reviewed and approved by Andy Robb, FAusIMM, VP Project Development who is a Qualified Person as defined by the NI43-101 disclosure standards.
ADVANTAGE LITHIUM CORP.
Per: "Callum Grant"
About Advantage Lithium Corp.
Advantage Lithium Corp is focused on developing its 75% owned Cauchari lithium project, located in Jujuy Province, 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 Lithium Carbonate Equivalent. See News Release released by the Company on March 7th 2019.