Orocobre has announced Advantage Lithium as operator of its Cauchari Joint Venture and the filing of Independent NI 43-101 Technical report.
Located in the Jujuy Province, Argentina 4.8Mt of lithium has been measured at Cauchari with low impurities.
There have currently been 26 holes drilled at Cauchari with an estimated $18 million spent on the project.
There are no differences between resource estimates in this report and the report from March 7, 2019. The report was completed by independent source Mr. Fritis Reidel from FloSolutions.
Advances were reviewed by Competent Person Murray Brooker, during the drilling program and resource estimations. Based on the successful drilling program in 2018 the estimated volume has increased.
Volume has increased to 1.9 cubic kilometres of brine with an average concentration of 476 mg/l of lithium.
Inferred resources are now estimated to be 0.6 cubic kilometres of brine with 473 mg/l of lithium.
With the current rate of 20k tonnes of lithium per year, there is an estimated 25-year mine life with pre-feasibility studies currently underway.