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Orocobre Ltd.
Summary
| Project: | Cauchari | |
|---|---|---|
| Deposit: | Cauchari | |
| Location: | Argentina | |
| Commodities: | Lithium-Potash | |
| Date: | 11/24/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-11-2016: Orocobre Ltd. announces a Resource Estimation report for its Cauchari deposit at the Cauchari project. Exploration target defined: 1.06Mt Li, 19Mt KCL - upper estimate. In conjunction with announcement of the joint venture (JV) between Orocobr | |
| Resources: | (Resource, Inf): 230Mm3 @ 380mg/L Li, 3700mg/L K | |
| CP/QP: | [Overall Report]: Murray Brooker (Hydrominex Geoscience Pty Ltd.) | |
| ABSTRACT: | In conjunction with announcement of the joint venture (JV) between Orocobre Limited (ASX: ORE; TSX: ORI) (the Company or Orocobre) and Advantage Lithium Corp. (TSXV:AAL) (Advantage Lithium) on the Cauchari project (“Cauchari”) in Jujuy Province, North West Argentina the company providesthe following technical details. As announced on October 22, 2012, the project currently contains an inferred resource in two adjoining areas of the salar, with a total 230 million cubic metres of brine at average grades of 380 mg/L lithium and 3700 mg/L potassium. This is equivalent to 470,000 tonnes of lithium carbonate and 1.6 million tonnes of potash (potassium chloride) based on 5.32 tonnes of lithium carbonate being equivalent to one tonne of lithium and 1.91 tonnes of potash being equivalent to one tonne of potassium. Details are given in the following table. As per Canadian reporting requirements Advantage Lithium will release an NI 43-101 resource report within 45 days of this announcement related to the Cauchari transaction. Due to differences in drill hole depths the resource was divided into a northern and a southern resource area. The resource was estimated using a conservative approach limited by the depth of drilling, with the estimate extending to 170 metres depth in the northern area of the properties and 50 metres depth in the southern area. The resource boundaries are constrained by the company’s property holdings, drilling results and geophysical survey interpretation. No internal cut-off boundaries have been used because both the Company and Competent Person/Qualified person consider it is inappropriate to apply them in a fluid resource where extraction will cause mixing. No external cut off was defined for the resource, due to the limited drilling and pit sampling completed on the project to date. The property boundaries were used as the western, northern and southern boundaries to the brine resource. Hole CAU006R was excluded from the resource due to a different drilling and sampling methodology and sub 100 mg/l Li composite sample results. | |
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