Alpha Lithium Corporation (TSX.V: ALLI) (OTC: APHLF)
(Frankfurt: 2P62) (“
Alpha” or the
“
Company”) is very pleased to announce drilling
results from its original six-well program. The drilling program
was an essential component of Alpha’s initial exploration campaign
in the 100% owned, 27,500 hectare, Tolillar Salar located in Salta
Province, Argentina.
The objectives for the initial campaign were to
(i) improve our understanding of the conceptual hydrogeological
model of the salar and (ii) determine lithium grades and hydraulic
parameters for the brine aquifer. Both objectives were successfully
achieved and provided confidence to continue with a second
exploration campaign.
To date, Alpha has drilled a total of six
exploratory holes to varying depths. The first well was very
shallow and drilled primarily to confirm and provide a baseline for
the original Vertical Electrical Sounding (“VES”) geophysical
survey completed in 2020. The remaining five production holes were
drilled to depths of between 78 and 352 meters. Each well was cased
with 6” or 8” production casing and then discharge tested to
evaluate well efficiency, sustainable pumping capacity and aquifer
parameters. Brine samples were collected during testing of each
well and sent for analysis to SGS Laboratory in the regional
capital city of Salta. As the drilling campaign progressed, the
technical team recalibrated the VES surveys with the newly obtained
information and continually refined the subsequent targets and
depths.
The drilling results demonstrated continual
improvement and the most recently tested wellbores encountered
consistent lithium grades of between 345 and 351 mg/L.
The first three exploration wells encountered
lithium grades ranging from 194 to 218 mg/L from pumping tests with
flow rates ranging between 55 and 100 m3/hour. The flow rate on the
final hole, with 351 mg/L of lithium concentration, reached 130
m3/hour. A higher pump rate was feasible but was limited by the
maximum achievable capacity of the pumping equipment.
In addition to high flow rates and lithium
concentrations, the Tolillar Salar also produced brine with very
low levels of impurities. For example, the range of magnesium to
lithium ratios (“Mg:Li”) was between 4.90 and 5.37, with an average
for the five wells at 5.0, a top quartile result for salars in
Argentina.
Brad Nichol, President and CEO commented, “We
are obviously very satisfied to present the fantastic results for
our first chapter of drilling in the Tolillar Salar. The original
wellbore drilled by previous owners in 2018 resulted in 204 mg/L of
lithium from samples taken at 190 meters and a calculated
transmissibility of 60 m3/hour. This drilling program produced
better than a 70% improvement in lithium concentration and a more
than 300% improvement in reservoir transmissibility.” Nichol added,
“What’s more, our technical team studied and tweaked in real time
and continually improved the results – leaving us with enormous
confidence to undertake a second, larger campaign focused on the
delivery of a resource.”
Summary Results for Drill
Holes
Drill HoleID |
Screen Top(m) |
Screen Bottom(m) |
Drill Depth(m) |
Grade(Li mg/L) |
Mg:LiRatio |
WBALT2 |
47.5 |
125.5 |
127 |
210 |
5.37 |
WBALT3 |
53.5 |
119.5 |
120 |
218 |
4.90 |
WBALT4 |
12.0 |
78.0 |
78 |
194 |
4.92 |
WBALT5 |
174.0 |
343.0 |
352 |
351 |
4.89 |
WBALT7 |
40.0 |
346.0 |
352 |
345 |
4.90 |
Based on the early success, the Company has
already undertaken drilling two additional production wells and two
fresh-water wells on the Tolillar Salar. Two of these wells have
been drilled and are awaiting testing and a third well is currently
being drilled.
Now armed with continually improved geological
and hydrogeological models, the Company is planning and licensing
to drill another ten, or more, production wells and expand the
geophysics study to include another 70 points of VES soundings
(more than double the original VES survey).
The objective for the second campaign is to
define and expand the lithium resource using a combination of VES
surveys, core-holes, production wells and pressure-monitoring
wellbores.
Qualified Person, QA/QC
Statements:
Michael Rosko, MS, PG, of Montgomery and
Associates (M&A) of Santiago, Chile, is a registered geologist
(CPG) in Arizona, California and Texas, a registered member of the
Society for Mining, Metallurgy and Exploration (SME No. 4064687),
and a qualified person as defined by National Instrument 43-101.
Mr. Rosko has extensive experience in salar environments and has
been a qualified person on many lithium brine projects. Mr. Rosko
and M&A are completely independent of Alpha Lithium. Drilling
was conducted by Andina S.R.L. of Salta, Argentina utilizing two
Prominas rotary drilling rigs. Sampling was conducted during step,
and long term, pumping tests and samples were processed using an
ICP mass spectrophotometer by SGS Laboratory in Salta, Argentina
utilizing a 32 elements suite analysis protocol. The Company has a
robust QA/QC and sample management program that includes
duplicates, blanks and standard samples when lab batches are
prepared. Mr. Rosko has reviewed and approved the scientific and
technical content of this news release.
ON BEHALF OF THE BOARD OF ALPHA LITHIUM
CORPORATION
“Brad Nichol”
Brad NicholPresident, CEO and Director
For more information:Alpha
Lithium Investor Relations Tel: +1 844 592
6337info@alphalithium.com
About Alpha Lithium (TSX.V: ALLI) (OTC: APHLF)
(Frankfurt: 2P62)
Alpha Lithium is a team of industry
professionals and experienced stakeholders focused on the
development of the Tolillar and Hombre Muerto Salars. In Tolillar,
we have assembled 100% ownership of what may be one of Argentina’s
last undeveloped lithium salars, encompassing 27,500 hectares
(67,954 acres), neighboring multi-billion-dollar lithium players in
the heart of the renowned “Lithium Triangle”. In Hombre Muerto, we
continue to expand our 5,000+ hectare (12,570 acres) foothold in
one of the world’s highest quality, longest producing lithium
salars. Other companies in the area exploring for lithium brines or
currently in production include Orocobre Limited, Galaxy Lithium,
Livent Corporation, and POSCO in Salar del Hombre Muerto; Orocobre
in Salar Olaroz; Eramine SudAmerica S.A. in Salar de Centenario;
and Gangfeng and Lithium Americas in Salar de Cauchari.
Forward-Looking Statements
This news release contains forward-looking
statements and other statements that are not historical facts.
Forward-looking statements are often identified by terms such as
"will", "may", "should", "anticipate", "expects" and similar
expressions. All statements other than statements of historical
fact, included in this news release are forward-looking statements
that involve risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's expectations include the
results of further brine process testing and exploration and other
risks detailed from time to time in the filings made by the Company
with securities regulators. The reader is cautioned that
assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company.
The reader is cautioned not to place undue reliance on any
forward-looking information. Such information, although considered
reasonable by management at the time of preparation, may prove to
be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this news
release are expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and the Company will update or
revise publicly any of the included forward-looking statements as
expressly required by applicable law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. No securities regulatory
authority has reviewed nor accepts responsibility for the adequacy
or accuracy of the content of this news release.
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