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Argentina Lithium & Energy Corp.
Summary
| Project: | Arizaro Salar | |
|---|---|---|
| Deposit: | Arizaro Salar | |
| Location: | Argentina | |
| Commodities: | Lithium | |
| Date: | 11/14/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-11-2017: Argentina Lithium & Energy Corp. announces an Exploration/Drilling Update report for its Arizaro Salar deposit at the Arizaro Salar project. Drilling results incl. Li Brine grade of 256mg/L Li at 238m. Vancouver, BC / Marketwired / November 1 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David Terry (Internal) | |
| ABSTRACT: | Vancouver, BC / Marketwired / November 14, 2017 / Argentina Lithium & Energy Corp. (TSX-V: LIT, FSE: OAY1 (WKN: A0RK7E), OTC: PNXLF), “Argentina Lithium” or the “Company”) is pleased to announce that the first two drill holes at the Arizaro project have encountered lithium-bearing brines below surface in the central area of the salar with values as high as 257 mg/l lithium. A substantial brine aquifer has not yet been reached but modest volumes of significantly anomalous lithium-bearing brines were retrieved starting at depths of between 15 and 356 metres. The depth of drilling was limited by the drill equipment used, therefore the Company plans to continue drilling in these areas using suitable deeperdrilling equipment, following more detailed geophysical and seismic surveys of the Arizaro basin. “Our model for this property was for a brine aquifer at depth, so we were pleased to have anomalous results in our first two holes,” said Nikolaos Cacos, President and C.E.O. “These results support the theory of a source aquifer below where we were able to reach, therefore we are continuing our exploration to pinpoint the best location and depth to continue testing.” Drill Program Details Three holes have been drilled on the property, including two in the central claim block (ARI-01, ARI-02) and one on the south claim block. Due to time constraints on the program, two drill rigs were employed. At hole ARI-01 the rig was capable of deeper drilling, however it was unable to advance past 398 metres due to the rods getting trapped. Hole ARI-02 was drilled using a rig capable of reaching 300 metres which was originally considered sufficient based on the geophysics. Later, due to the results from Hole ARI-01, the second hole was considered prospective at lower depths, however the rig capable of the deeper drilling was no longer available. The central area holes both drilled through mainly massive halite with short sections of intercalated clay layers, or layers of sand. At approximately 300 metres depth Hole ARI-01 encountered mainly sand with lessor sandstone layers to the end of the hole at 398 metres, with several anomalous results in these units. Hole ARI-03 in the southern claim block drilled through a halite cap to approximately 9 metres, then 23 metres of high porosity sand that was followed by a mix of low porosity mixed sand units to 236 metres depth. | |
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