- Every new drill hole intercepted high-grade brine at depth of up to 362m and outside of the previous resource estimate in 2018
- Previous resource estimate in the northern high-grade zone only went to 100m and drill hole PP1-R-26 250m off-strike
- The Company expects to deliver a positive new resource update including all the new deeper and off-strike drill holes in Q2 2021
The well PP1-R-26 is located off-strike and approximately 250 meters east of the 3Q Project lake (in the alluvial fan) outside the previous resource volume that ended at the rim of the 3Q Project lake. Brine was found in the sediments at 11 meters deep all the way to the bottom of the well at 362 meters deep. This is the deepest well drilled in the northern high-grade sector of the deposit and is also outside of the previous resource estimate calculation. As a remainder the previous resource estimate high-grade zone in the northern portion of the Salar only went down to 100 meters. The rocks found in the hole are interlayered sands, gravel, and clays from surface to 264 meters and coarse sand from 264 to 362 meters. This lower brine aquifer made of coarse sand that runs at depth is new and had not been detected in previous drilling of the high-grade zone because the deepest hole in the north was PP1-R-25 that went to a depth of 268 meters.
PP1-R-26 was finished with blind casing with cement and clay pellets from surface to 264 metres to isolate the upper known aquifers from the lower aquifer of the well, and eight inches PVC screen from 264 metres to 362 metres. The well was pumped for 24 hours at 30m3 per hour, and the following 24 hours at 40m3 per hour to collect six brine samples, one every six hours approximately. The flow at the well has been strong, with very little depression of the brine water table even at those high pump rates. The Company is currently working towards completing a piezometer numbered PP1-D-26 to be able to run pump tests in this new deep aquifer.
Well number PP1-R-24 expanded this high-grade zone to 167 meters deep, well number PP1-R-25 expanded the high-grade zone to 268 meters deep and now PP1-R-26 expanded the aquifer down to 360 meters deep.
In light of this discovery, the Company has engaged
- PP1-R-24 run from 0-167 meters with 1,128 mg/l Li
- PP1-R-25 run from 90-268 meters with 1,117 mg/l Li
- PP1-R-26 will test the deeper aquifer that runs from 260 to 360 meters deep (results pending)
"We are pleasantly surprised with the result of our drilling and the manner in which the northern high-grade zone extends both deeper and off-strike," stated
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The samples collected were delivered by Company personnel to
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Cautionary Note Regarding Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements. Such statements include but are not limited to, statements as to lithium brine grades at depth being consistent with surface results, the potential for resource expansion at depth, the potential of the northern salar sediments, and deeper sediments, for hosting brine, the ability to proceed to scoping studies quickly, proceeding with continued work for additional economic studies the potential for production expansion in the Company's assessment of the economic potential of the 3Q Project, that test results are indicative of future results, and the additional of additional independent directors. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "scheduled", "estimates" "intends", "anticipates", "believes", or variations of such words and phrases, or statements that certain actions, events or results "can", "may", "could", "would", "should", "might" or "will", occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. These risks include, without limitation, risks related to failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory risks associated with mining and exploration activities, including environmental regulation, risks and uncertainties relating to the interpretation of drill and sample results, risks related to the uncertainty of cost and time estimation and the potential for unexpected delays, costs and expenses, risks related to metal price fluctuations, the market for lithium products, competition for experienced directors in the junior mineral exploration and development sector, and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and undue reliance should not be placed on forward-looking statements.
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