BRISBANE, Australia,
Dec. 3, 2017 /CNW/ -- Orocobre
Limited (ASX: ORE, TSX: ORL ) ("Orocobre" or "the
Company") is pleased to provide an update on the brine sampling
of diamond drill hole CAU16 in the previously undrilled NW Sector
of the Cauchari JV property located in Jujuy Province, Argentina.
The exploration program is being managed by JV partner
Advantage Lithium Corp. ("Advantage Lithium") (TSX
Venture: AAL) (OTCQX: AVLIF) who hold 50% of Cauchari, earning
up to 75%. Orocobre owns 35% of Advantage Lithium's issued
capital.
Highlights:
- Systematic brine sampling is now complete in hole CAU16 which
intersected permeable sandy sediments that are expected to yield
relatively high pumping rates
- The brine body extends over >284 metres vertically starting
at 14 metres and includes a 81 metre high grade interval from
118-199 metres, similar to CAU07, 3 kilomtres north
- The high grade brine interval averages 529 mg/l Lithium and
4,306 mg/l Potassium, including four samples averaging 619 mg/l
Lithium from 169 to 199 metres
- The brine has a low Mg/Li ratio of 2.5:1, similar to CAU07 and
the brine being processed at the Olaroz Lithium Facility making it
suitable for the same processing route
- Diamond drill hole CAU15 (6.5 km south of CAU16) is currently
at 205 metres and encountering intervals of sand in the hole
similar to CAU16 and CAU07
- Pumping tests have commenced on wells installed in rotary holes
CAU08 and CAU10
Managing Director and CEO, Richard
Seville, commented, "We are very pleased with the results
being generated by the drilling programs managed by JV partner,
Advantage Lithium. The results from CAU16 confirm the continuation
of the brine body south from CAU07 with good grades and good
chemistry. The presence of sandy sediments throughout the
hole is a very positive indicator for both porosity and potential
flow rates and brine extraction. Drilling will continue in the SE
and NW sectors into 2018 with three drill rigs now secured."
CAU16 Drilling Results
The average concentration over the sampled length of CAU16 (14 –
298 metres, total depth 321.5 metres) is 436 mg/l Lithium and 3,608
mg/l Potassium from 40 primary samples taken at systematic depth
intervals.
Sampling delineated a high-grade brine interval averaging 529
mg/l Lithium and 4,306 mg/l Potassium over 81 metres (118 – 199
metres) within the larger brine body. Four brine samples within the
previously reported 169 - 199 metre interval average 619 mg/l
Lithium and are part of the 81 metre interval average of 529 mg/l
Lithium.
The brine body defined to date continues from CAU07 in the
north, through CAU16 and further south to hole CAU15, which is
currently being drilled. This is a distance of over 12.5 km
approximately north-south. These diamond core holes have all
intersected relatively permeable sandy sediments that are expected
to yield relatively high pumping rates from the NW Sector, which is
very positive for future brine extraction.
Brine sampling was undertaken systematically at nominal six
metre depth intervals using both bailer and packer sampling
equipment, depending on the conditions encountered in the hole. The
average concentration for the high-grade interval (118-199 metres)
and average concentration over the entire length of CAU16 (to 298
metres) is based on both bailed and packer samples.
The Mg/Li ratio in all brine samples is consistently low,
averaging 2.5:1 across all the samples, and 2.3:1 in the high-grade
interval. The consistently low Mg/Li ratio confirms the suitability
of the brine for conventional brine processing, as applied at the
nearby Olaroz project.
Drill core samples from CAU07 and CAU16 have been sent to an
experienced porosity laboratory in the
United States, where they will be analysed for drainable
porosity characteristics for use in the upcoming resource
estimate.
SE Sector Drilling - CAU08 and CAU11 Progress
In the SE sector, well development and pump installations have
been completed on rotary holes CAU08 and CAU11 in preparation for
initial pumping tests and collection of composite brine
samples.
Managing Director and CEO, Mr Richard
Seville, also commented, "These results give us further
confidence to continue exploration efforts in the very strategic NW
sector, located immediately south of our Olaroz properties. The
CAU16 results suggest the brine body on the NW side has the
potential to be an important part of the overall resource base with
the potential to support a stand-alone processing facility."
For more information please contact:
Andrew Barber
Investor
Relations Manager
T: +61 7 3871 3985
M: +61 418 783 701
E: abarber@orocobre.com
Competent Persons Statement
The information in this report that relates to exploration
reporting at the Cauchari JV project has been prepared by Mr
Murray Brooker. Murray Brooker is a geologist and hydrogeologist
and is a Member of the Australian Institute of Geoscientists. Mr
Brooker is an employee of Hydrominex Geoscience Pty Ltd and is
independent of Orocobre. Murray has sufficient relevant experience
to qualify as a competent person as defined in the 2012 edition of
the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves. He is also a "Qualified Person" as
defined in NI 43-101. Murray Brooker
consents to the inclusion in this announcement of this information
in the form and context in which it appears.
About Orocobre Limited
Orocobre Limited (Orocobre) is a dynamic global lithium
carbonate supplier and an established producer of boron.
Orocobre is dual listed on the Australia and Toronto Stock Exchanges (ASX:
ORE), (TSE: ORL). Orocobre's operations include its Olaroz Lithium
Facility in Northern Argentina,
Borax Argentina, an established Argentine boron minerals and
refined chemicals producer and a 35% interest in Advantage
Lithium.
For further information, please visit www.orocobre.com.
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SOURCE Orocobre Limited