VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jan. 17, 2017) – Advantage Lithium Corp. (the “Company” or “Advantage Lithium“) (TSX VENTURE:AAL) and its partner, Nevada Sunrise Gold Corp., are pleased to announce that a phase 2 drill program has begun at their Clayton NE property, which borders Albemarle’s Silver Peak lithium brine production operation in Clayton Valley, Nevada. Drilling will be comprised of a total of approximately 1,800m (5,905 feet) in 3 Reverse Circulation (“RC”) holes expected to test depths of a minimum 600m each. Using a similar approach to the successful phase 1 program that hit wide intercepts of lithium brine with strong brine flow rates, these new holes that will focus on high-priority conductive horizons identified and imaged in the 2016 3D Resistivity survey and confirmed by drilling to be lithium bearing brines. All 3 holes are adjacent to Albemarle’s Silver Peak lithium brine field operation, in close proximity to several of their production wells.
Ross McElroy, Director and Technical Advisor, of Advantage Lithium, commented: “We have already defined a 3.43km mineralized trend at Clayton NE and have encountered strong grades and excellent brine flow in all 3 Phase 1 RC holes drilled in 2016. We are excited to begin the Phase 2 round of drilling as we progress towards evaluating the potential lithium brine resource at Clayton NE.”
Clayton Valley Project Overview
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol., Technical Advisor to Advantage Lithium Corp., and the Designated Qualified person for the company.
Further information about the company can be found at www.advantagelithium.com.
About Advantage Lithium Corp.
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. Common Shares are listed on the TSX Venture Exchange under the symbol “AAL”. The company has signed an LOI with lithium producer, Orocobre, to acquire 100% interest in five projects in Argentina and 75% in a sixth, called Cauchari. Cauchari is host to a near-surface resource of 470,000 tonnes of lithium carbonate equivalent (LCE) and 1.62 million tonnes of potash (KCL), and a large exploration target of 5.6mt to 0.25mt of LCE and 19mt to 0.9 of KCL. Cauchari is located just 20 km south Orocobre’s flagship Olaroz Lithium Facility. The company is also earning an interest from Nevada Sunrise Gold Corp., in a portfolio of five lithium brine projects in the Clayton and Lida Valley regions of Nevada, USA, including 70% in Clayton NE. In addition, the company has acquired 100% of the Stella Marys lithium brine project, immediately adjacent to Orocobre’s Salinas Grandes project that hosts an inferred, near-surface resource, in Argentina’s Lithium Triangle.
ADVANTAGE LITHIUM CORP.
David Sidoo, President
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Advantage Lithium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Advantage Lithium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither 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.