Advantage
Lithium

Advantage Lithium

Advantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia.

In November 2016 Orocobre entered into a joint venture (JV) agreement with Advantage Lithium on its Cauchari Project and a number of exploration projects.

Under the terms of the agreement, Orocobre divested several of its lithium brine exploration projects – which were held through its Argentine subsidiary South American Salars SA (SAS) to Advantage Lithium for a 35% share off Advantage.

Property

State

Area (ha)

Interest

Cauchari Jujuy  27,771 *50%
Incahuasi Salta  9,843  100%
Antofalla Salta 10,653 100%
Guayatoyoc Jujuy 21, 276  100%
Other applications pending ~16, 000   100%

Inferred resource estimate summary*

Cauchari table

Note numbers in this table are rounded, to reflect best practice, and differ only on this basis from the table provided in the announcement of 22 October 2012. This resource is the maiden resource announced in October 2012.

The agreement also included the appointment of two nominees to the Board of Directors of Advantage Lithium.

The transaction enabled these high potential exploration assets to be developed and advanced without need for any further input of capital or management time by Orocobre, allowing continued focus on our current production and expansion plans at Olaroz and Borax Argentina.

Cauchari Project

The Cauchari project is a 50/50 joint venture between Orocobre and Advantage Lithium.

Advantage Lithium is increasing its interest in the project from the current 50% to 75% through the expenditure of US$5m or by completing a Feasibility Study. Orocobre holds the remaining interest.

The Cauchari project lies between Orocobre’s producing Olaroz Lithium facility and the development Cauchari project of Lithium Americas Corp and SQM.

The Cauchari project currently contains an inferred resource of approximately 470,000 tonnes lithium carbonate equivalent and 1.6 million tonnes of potash (Table 1)*

CAUCHARI JV TECHNICAL REPORT COMPLETED

Orocobre Limited is pleased to advise the NI43-101 Technical Report on the resource upgrade of the Cauchari JV Lithium Project in Jujuy, Argentina has been completed. The report, prepared by FloSolutions S.A.C., has increased the inferred resource to a volume of approximately 1,200 million cubic metres of brine at average grades of 450 mg/l lithium and 4,028 mg/l potassium for 3.0 Mt of Lithium Carbonate Equivalent (LCE). This exploration project is being undertaken in Jujuy Province, Argentina.

Click below to view the associated documentation:

Development Works

Phase one drilling: a five hole rotary drill program commenced May, 2017

Phase two drilling: A follow-up, twelve hole diamond drill program is scheduled to begin later in 2017.

Drilling will focus on potential extensions of the existing inferred resource at Cauchari and exploration where no previous drilling has been conducted.  A large exploration target1 has been defined with a range of 125 to 1,855 million cubic metres of brine at between 260 and 600mg/l lithium and 2,500 to 5,350mg/l potassium for the lower and upper ranges1 respectively; this represents an in-situ range of contained product of between 0.25 to 5.6mt of lithium carbonate equivalent (LCE) and 0.9 to 19 mt of potash (KCl).

Accelerated Development Potential

Advantage Lithium has the potential to fast track the exploration and development works at Cauchari. The chemistry of the project is similar to the nearby Olaroz deposit allowing for compatible processing.

There is a real opportunity for growth through the utilisation of strong regional infrastructure, a budgeted spend of US$7-10 million (over the next 36 months) and local experience in permits and government and community relations.

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