12 diamond drill and 5 rotary hole exploration program has potential to expand Resource
Budgeted spending US$7-10 million over next 36 months
Local expertise with experience on permitting, government and community relations
Chemistry is similar to nearby Olaroz deposit therefore compatible for processing
Regional infrastructure allows for accelerated development
ROFR held by Orocobre provides development options
Major Growth Potential
7 holes drilled in 2017 and 5 holes drilled in 2018 which were all included in the updated resource estimate showing 3.0 Mt LCE at 450 Mg/l with further potential to increase this resource and grade through deeper drilling and laterally. Permits in place allowing for up to 12 diamond drill holes and 5 rotary holes.
Cross Section: Exploration Target
The above information 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. The Cauchari inferred resource, from the combined northern and southern resource areas, contains an estimated 230 million cubic metres of brine at ~380 mg/l Li and 3,700 mg/l K. This is equivalent to 470,000 tonnes of lithium carbonate (~88,000 tonnes lithium metal) and 1.62 million tonnes of potash (KCl - equivalent to ~840,000 tonnes of potassium). The Lithium Americas’ estimated measured and indicated resource of 3,804 million cubic meters of brine at 585 mg/l Lithium equates to 11.8mt of lithium carbonate. (source: http://lithiumamericas.com/filings/technical-reports/) All historical resource estimates were completed prior to the implementation of NI 43-101 and the Company has not done the work necessary to verify the classification of the resource or reserve, they should not be relied upon or considered a defined resource according to NI 43-101; Except for those properties where NI 43-101 have been completed. The Cauchari exploration target is defined with a range of 0.25 to 5.6 mt of LCE and 0.9 mt to 16 mt of potash and target grade range of 260 mg/L Li and 2550 mg/L K and 537 mg/L for Li and 5350 mg/l K for the lower and upper ranges. Exploration targets are not mineral resources. The potential quantity and grade of the exploration target is conceptual in nature, and there has been insufficient exploration to define a Mineral Resource in the volume where the Exploration Target is outlined. It is uncertain if further exploration drilling will result in the determination of a Mineral Resource in this volume. The technical information in this news release has reviewed and approved on behalf of the company by Murray Brooker, MAIG, RPGEO, a "Qualified Person" as defined in NI 43-101.