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Orocobre Ltd.
Summary
| Project: | Cauchari | |
|---|---|---|
| Deposit: | Cauchari | |
| Location: | Argentina | |
| Commodities: | Lithium-Potash | |
| Date: | 1/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-1-2018: Orocobre Ltd. announces an Exploration/Drilling Update report for its Cauchari deposit at the Cauchari project. JV - Brine drill results return aver. 475mg/l Li, 3662mg/l K from 174m. Orocobre Limited (ASX: ORE, TSX: ORL ) (“Orocobre” or “the C | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Murray Brooker (Hydrominex Geoscience Pty Ltd.) | |
| ABSTRACT: | 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. 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 ofsampling 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. | |
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