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Millennial Lithium Corp.
Summary
| Project: | Pastos Grandes | |
|---|---|---|
| Deposit: | Pastos Grandes | |
| Location: | Argentina | |
| Commodities: | Lithium | |
| Date: | 6/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-6-2017: Millennial Lithium Corp. announces an Exploration/Drilling Update report for its Pastos Grandes deposit at the Pastos Grandes project. Drill hole intersects brine horizon averaging a Li grade of 535mg/L from 93.5m to 475m . Millennial Lithium C | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Iain Scarr (Internal) | |
| ABSTRACT: | Millennial Lithium Corp. (ML: TSX.V) (A3N2:GR: Frankfurt) (MLNLF: OTCQB) (“Millennial” or the “Company”) is pleased to report positive analytical results from the latest exploration well at its wholly owned Pastos Grandes Project in Salta, Argentina. Exploration hole PGMW17-04b was drilled to a depth of 564 metres (m) and terminated in a brinebearing formation. This hole, coupled with the results of holes PGMW16-01 and PGMW16- 02 (see News Release dated Jan. 25, 2017), confirm the salar’s brine carrying capacity extends to much greater depths than encountered in previous exploration wells. Hole PGMW17-04b intersected a robust brine horizon averaging a lithium grade of 535 milligrams per litre (mg/L) from 93.5m to 475m. Millennial CEO, Farhad Abasov, commented: "We are very pleased to see that drilling in the Pastos Grandes salar continues to encounter very thick lithium brine-bearing sequences. The average lithium content of hole PGMW17-04b is 535 mg/L over an impressive 381.5m which is significantly higher than the values encountered in previous drilling. Millennial currently has two drills turning and another arriving this week to further define the lithiumbearing brine in this region as it works toward a maiden resource estimate." Exploration well PGMW17-04b, drilled to a final depth of 564m, was sampled using a double packer system which is designed to isolate sample intervals. Twenty-seven brine samples were collected from depths of 93.5m to 475m, and yielded an average lithium grade of 535 mg/L with an average magnesium/lithium ratio of 5.6. Individual lithium grades from the hole range from a low of 463 mg/L to a high of 623 mg/L. Potassium values range from 4,906 mg/L to 6,148 mg/L and average 5,610 mg/L over the 381.5m intersection. | |
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