Ar­gentina Lithium drills up to 257 mg/L Li at Arizaro

Stockwatch Daily - - MINES & METALS - Mr. Niko­laos Ca­cos re­ports

THE FIRST two drill holes at Ar­gentina Lithium & En­ergy Corp.’s Arizaro project have en­coun­tered lithium-bear­ing brines be­low sur­face in the cen­tral area of the salar with val­ues as high as 257 mil­ligrams per litre 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 me­tres 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 deeper-drilling 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 chief ex­ec­u­tive of­fi­cer. “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.”

Re­sults of sam­pling are com­piled in an at­tached ta­ble.

(See LIT Ta­ble 1 on page 3)

Drill pro­gram de­tails

Three holes have been drilled on the prop­erty, in­clud­ing two in the cen­tral claim block (ARI-01 and ARI-02) and one on the south claim block.

Hole ARI-01 ended in sands with highly anoma­lous val­ues, and the com­pany is op­ti­mistic that a higher-grade lithium brine aquifer could still be present at greater depths. ARI-02 ended in mas­sive halite; how­ever, it was not drilled as deep as the first hole. The com­pany plans to ex­e­cute seis­mic and con­trolled-source au­dio-fre­quency mag­ne­totel­lurics (CSAMT) geo­phys­i­cal sur­veys to bet­ter map the depths of the basin and con­duc­tive lay­ers that may be re­lated to lithium-bear­ing brines.

Re­sults for ARI-03 in the south­ern claim block are in­com­plete at the time of writ­ing; how­ever, based on pre­lim­i­nary analy­ses, the re­main­ing sam­ples from the bot­tom are ex­pected to have sim­i­lar or lower lev­els of lithium and potas­sium to those from the top of the hole.

We seek Safe Har­bor.

Karen Bax­ter con­densed this news re­lease (karenb@stock­watch.com).

Niko­laos Ca­cos, Nick DeMare, Ni­co­las Galli, Joseph Ni­cola Grosso, David An­drew Terry

(LIT) Shares: 62,932,432

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