Argentina Lithium Provides Updates on its Argentine Lithium Brine Exploration Programs – Brine Targets Identified at Antofalla Norte
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NEWS RELEASE – August 24, 2018
Argentina Lithium Provides Updates on its Argentine Lithium Brine
Exploration Programs – Brine Targets Identified at Antofalla Norte
Vancouver, BC / Globe Newswire / August 24, 2018 / Argentina Lithium & Energy Corp. (TSX-V: LIT,
FSE: OAY2 [WKN: A0RK7E ], OTC: PNXLF) , “Argentina Lithium ” or the “Company”) is pleased to
provide an update on its recent lithium brine exploration programs at its three projects: An tofalla, Arizaro,
and Incahuasi. The projects are located in the Lithium Triangle in Argentina, and have the potential for
discovery of lithium brine resources.
Antofalla Norte:
The Company has received results from a recently completed CSAMT deep geophysical survey on the
Antofalla Norte Lithium Project and have identified four initial drill targets with the potential for discovery of
lithium-bearing brines. Several other companies are exploring properties on the Antofalla salar, including
global lithium producer Albemarle. Previous operators of the Albemarle property delineated lithium in brines,
which Albemarle believes will be certified as the largest lithium resource in Argentina 1. Reported grades
from the salar include 350 mg/l lithium and 6,400 mg/l potash2.
[The reader is cautioned that that proximity to a discovery, past-producing mine, or mineral resource, does
not indicate that mineralization will occur on the Company’s property, and if mineralization does occur, that
it will occur in sufficient quantity or grade that would result in an economic extraction scenario. Results from
other companies are not indicative of expected Argentina Lithium’s results, as there has been insufficient
exploration on the properties by Argentina Lithium.]
The CSAMT geophysical survey was conducted on the northern part of the property. The survey consisted
of three East -West lines and three North-South lines , ranging from 2.4 to 6.8 kilometres in length and
totalling 23.8 kilometres, with a total of 16 soundings (see Figure 1, below).
CSAMT method is used to map deeper stratigraphic units (layers) ands provide information to interpret
subsurface characteristics, including lithology, basement geology, faults, weak or weathering zones,
depression zones, groundwater level, and brine bearing formations. This information is used to select drill
targets.
The survey identified targets with high conductivity in the first 100 m etres and moderate conductivity at
deeper levels (see example, Figure 2, below). Four drill holes are recommended by the consulting
geophysicists to test for lithium -bearing brines. The Company is planning a potential drill program for the
Argentine spring season.
Arizaro:
The Company also completed a CSAMT survey at the Arizaro property to identify conductive features in
stratigraphic units deeper than previously tested , and to expand the survey line coverage . The program
included three East -West lines, each 13.5 kilometres long, plus two North -South lines of 10 an d 20
kilometres each, with sounding spacings of 500 to 1000 metres. The survey provided new possible shallow
News Release August 24, 2018
Argentina Lithium & Energy Corp. Page 2
brine targets but no significant targets were identified at depths below the 2017 drilling program . The
Company is evaluating the appropriate next program for the Project.
CSAMT Survey Methodology
The surveys were completed by the technical staff of the independent geophysical company “GEC” using
the STRATAGEM EH -4 equipment which provides high -resolution two -dimensional images of geologic
structures by detecting and mapping variations in subsurface conductivity / resistivity. STRATAGEM EH -4
uses the magnetotelluric (MT) method to measure subsurface conductivity. The magnetotelluric method is
based on the fact that the ratio of the magnetic to electric fields (known as the impedance) at a given
frequency is constant for a constant resistivity. Natural signal sources, such as lightning activit y, can be
measured to determine this ratio. Unfortunately, natural signals are sometimes not available at the time,
frequency, and amplitudes needed. Stratagem’s hybrid -source technique helps overcome this problem.
Hybrid source uses a combination of natur al MT signals and man-made transmitter signals. Any available
natural background signals are used in the entire frequency band while the STRATAGEM transmitter is
used to provide additional high -frequency signals in the range of 1 k Hz to 70 k Hz where natu ral signals
are weak.
Incahuasi:
The Company has completed its previously announced initial drill program at the Incahuasi salar. The
program included four vertical diamond drill holes totalling 878 metres. The holes were located based on
the results of a Vertical Electrical geophysical survey (VES), along 12 kilometres parallel to the long axis of
the salar (see Table 1 and Figure 3, below). Halite and deeper clastic sediments were cored in all holes.
All four holes encountered lithium -bearing brines, mainly in sand and gravel units located throughout the
holes. Lithium values from the brine samples were modest but fairly consistent, averaging 109 mg/L for all
54 samples collected and analyzed. Results are summarized in Table 2. Argentina Lithium is continuing
to evaluate the data obtained to date from the geophysical, surface sampling and drilling programs to
enhance its understanding of the hydrogeological aspects of the Incahuasi salar in order to focus future
work on identifying sub-domains with higher lithium grades.
Table 1. Locations of Drill Holes, Incahuasi Project
Hole Easting Northing Azimuth Dip Total Depth
DDH-I-01 2630722 7080445 0 -90 300
DDH-I-02 2632736 7086486 0 -90 190
DDH-I-03 2633213 7080615 0 -90 264.5
DDH-I-04 2632155 7075025 0 -90 123.5
Table 2. Incahuasi Average Results of Drill Holes 1 to 4
Lithium (mg/L) Potassium (mg/L) Magnesium (mg/L)
Maximum 141 9,169 18,927
Minimum 10 562 1,280
Average 109 6,718 13,689
News Release August 24, 2018
Argentina Lithium & Energy Corp. Page 3
Drilling Methodology & QA/QC
Drilling was carried out by AGV Falcon Drilling S.R.L. using a diamond drill rig recovering HQ core. As the
drill holes were all vertical and sedimentary strata in the salars is horizontal, all samples are believed to
approximate true thickness. Samples were collected with a double packer. This method allows the
collection of samples at specific depths while sealing the hole at the bottom and at the top of the sample.
All samples were collected in hard white plastic 1 litre bottles with samples n umbers clearly identified. The
samples were sent to the Alex Stewart Argentina S.A laboratory in Mendoza, Argentina (“Alex Stewart”),
an ISO 9001:2008 certified laboratory, with ISO 17025:2005 certification for the analysis of lithium and
potassium. Alex S tewart employed Inductively Coupled Plasma Optical Emission Spectrometry (“ICP -
OES”) as the analytical technique for the primary constituents of interest, including: boron, calcium,
potassium, lithium, magnesium and sulphur. Measurements in the field inclu ded pH, conductivity,
temperature and density. The laboratory took the same measurements and they were consistent with the
field data. A duplicate set of samples with different numbering was sent to the Alex Stewart NOA laboratory
in Jujuy. The Mendoza l ab results were on average higher than the Jujuy lab results, (~8% higher in
Lithium) however due to the overall low levels of lithium in the samples the Company is not investigating
the difference at this time.
About the Antofalla Norte Project
Argentina Lithium has applied for 100% interest in approximately 9,000 hectares of mining claims in the
north end of the Salar de Antofalla and entered into an option agreement to earn a 100% interest in three
additional adjacent properties totaling over 5,300 hect ares. The Salar de Antofalla is approximately 150
kilometres long and 5 -7 kilometres wide, and is located at 3,900 metres elevation. The salar is accessed
by Provincial highway 43 and unpaved roads, with the small town of Antofalla approximately 50 kilometres
to the south and the city of Salta approximately 500 kilomet res away. The geological environment at the
Salar de Antofalla is similar to other salars in the Puna region where lithium and potash are found. Several
other companies are exploring properties on the salar, including global lithium producer Albemarle.
About the Arizaro Project
The Company holds, or has under application, over 13,000 hectares, and has the option to earn a 100%
interest in an additional 20,500 hectares on the Arizaro Salar, the largest in Argentina and third largest in
the “Lithium Triangle”. The Arizaro Salar ben efits from a strategic location for infrastructure, including: a
railway that connects to the deep water port of Antofagasta; nearby advanced mining projects that are
expected to bring significant development of access routes and power; and the availabilit y of water for
development.
About the Incahuasi Project
The Incahuasi Brine Project includes 100% interest in 25,500 hectares covering t he entire Salar de
Incahuasi in the northwest of Catamarca Province, in the southern half of the "Lithium Triangle". Access to
the Incahuasi salar is by gravel road, approximately 34 kilometres southwest from the town of Antofagasta
de la Sierra. The geological environment at Incahuasi is similar to other salars in the Puna region where
lithium and potash are found.
Qualified Person
The work programs at the Antofalla Norte and Incahuasi Projects were undertaken under the supervision
of David Terry, Ph.D., P.Geo., a Director of the Company and a Qualified Person as defined in National
Instrument 43-101. The contents of this news release have been reviewed and approved by Dr. Terry.
For additional information on the projects please see the Company website www.argentinalithium.com .
ON BEHALF OF THE BOARD
“Nikolaos Cacos”
_____________________________________
Nikolaos Cacos, President, CEO and Director
News Release August 24, 2018
Argentina Lithium & Energy Corp. Page 4
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore
involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are
encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future
results. The Company undertakes no obligation to publicly update or revise any forward -looking statements. We advise U.S. investors that
the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral
deposits on adjacent properties are not indicative of mineral deposits on our properties.
1 Albemarle September 12, 2016 News Release; http://investors.albemarle.com accessed 3/5/18.
2 https://roskill.com/news/lithium-albemarle-expands-argentina/ accessed 3/5/18
News Release August 24, 2018
Argentina Lithium & Energy Corp. Page 5
Figure 1. Antofalla Norte CSAMT Survey lines and Proposed Drill Holes
News Release August 24, 2018
Argentina Lithium & Energy Corp. Page 6
Figure 2. CSAMT Results Line 4
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Argentina Lithium & Energy Corp. Page 7
Figure 3. Incahuasi Drill Hole locations