BRISBANE, Australia,
Jan. 18, 2018 /PRNewswire/
-- Orocobre Limited (ASX: ORE, TSX: ORL) ("Orocobre"
or "the Company") is pleased to provide an update on the brine
sampling of diamond drill hole CAU15 in 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 33% of Advantage Lithium's issued
capital.
Highlights:
- Drilling intersected extensive sandy sediments, confirming the
NW Sector contains relatively high drainable porosity and
permeability south from CAU07 through CAU16 to CAU15
- The brine body intersected in CAU15 extends over
>132 m vertically and is expected
to continue below the base of sampling at 234.5 m
- CAU15 brine averages 407 mg/l Lithium and 3,196 mg/l Potassium
from 102-234.5 m depth, with a higher
average grade of 475 mg/l Lithium and 3,662 mg/l Potassium from
174-234.5 m
- Average Mg/Li ratio of 3.1:1, only slightly higher than
previous holes CAU07 (2.3:1), and CAU16 (2.5:1) in the NW Sector –
very positive for utilisation of conventional or other brine
processes
- Diamond drilling ongoing on holes CAU12 and CAU13 in the south
of the SE Sector, to provide increased drilling density and
geological information in this area. These holes are separated by
2 km, with CAU13 located 2 km southwest of CAU09
- Preparing to drill diamond holes CAU17 and CAU18 in the NW
sector for resource estimation
- Pumping tests carried out on CAU08 and CAU11 will be reported
as soon as assay results are available
NW SECTOR - CAU15 Drilling Results
Drilling
intersected an extensive sequence of sandy material, with coarse
sandy gravel units in the last 20 m of the hole. Brine assays
from 9 samples at an average sample spacing of 15 m returned an average of 407 mg/l Lithium and
3,196 mg/l Potassium over 132.5 m
from a depth of 102 m to the base of
sampling at 234.5 m, with the total
hole depth 243.5 m. Higher grade
brine in the deeper part of the hole averaged 475 mg/l Lithium and
3,662 mg/l Potassium from 174 to 234.5
m.
The brine mineralisation shows similarities to CAU16 and CAU07,
where higher grade brine is present beneath brackish water and low
grade brine that begins at surface. In CAU15 this low grade
material extends to a depth of approximately 100 m below surface. Intersection of Li
mineralised brine in CAU15 suggests brine mineralisation continues
further south.
CAU15 is located approximately 6.5 km south of CAU16, for which
results were released in November. The brine body defined to date
extends some 12.5 km in the N-S direction between CAU07 and CAU15.
Diamond core holes CAU07, CAU15 and CAU16 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 a nominal
12 m vertical interval using bailer
sampling equipment, depending on the conditions encountered in the
hole.
The Mg/Li ratio in all brine samples is low, averaging 3.1:1
across all the samples and 2.9:1 over the higher grade interval
from 174-234.5 m. This confirms the
suitability of the brine for conventional brine processing, as
applied at the nearby Olaroz project.
Drill core samples from CAU15 will be 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.
NW SECTOR - CAU17 and CAU18 Drilling
Preparations are
underway for drilling of diamond holes CAU17 and CAU18 in the NW
Sector to supplement holes drilled in 2017 for resource
estimation.
SE SECTOR – Drilling and pumping activities
CAU08
and CAU11 Pumping Test Results
Initial pumping test results
are imminent for hole CAU08, located in the center of the SE
Sector, and CAU11, located further to the south. Results will be
provided when they become available.
Diamond Drilling of CAU12 and
CAU13
Diamond holes CAU12 and CAU13 commenced in December
and drilling is continuing following the end of year shutdown
period, with the holes expected to be finished around the end of
January or early February. This diamond drilling will provide
additional information on the distribution of sedimentary units in
the SE Sector and will provide samples for laboratory analysis of
porosity. Additional information will be provided as it becomes
available.
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