ARGENTINA – After completing its phase two and three drill programs at its flagship Cauchari lithium project in Jujuy, Advantage Lithium has more than doubled the project’s resource. Based on its new measured and indicated resources, the company says Cauchari is now Argentina’s second largest development project.
Based on the updated resource, the project now contains 1.8 billion measured and indicated cubic metres of brine grading 476 mg/L lithium for 4.8 million tonnes lithium carbonate equivalent.
The project also contains 600 million inferred cubic metres of brine at 473 mg/L for 1.5 million tonnes lithium carbonate equivalent. It is the first time Advantage Lithium has updated its Cauchari resource since May 2018.
The company has broken its resource into six difference geological units. It considers the project’s Archibarca Fan and SE Sector the two most important areas for future brine production.
Archibarca Fan alone contains 1 million tonnes lithium carbonate equivalent at 564 mg/L lithium in the measured category; the SE Sector contains roughly 3 million tonnes lithium carbonate equivalent at 481 mg/L lithium in the measured and indicated categories.
Shares of Advantage Lithium are currently trading at 62¢ with a 52 week range of 40¢ to $1.21. The company has a $98 million market capitalization.
This story first appeared on www.NorthernMiner.com.