VANCOUVER, British Columbia, August 5, 2020 — Alpha Lithium Corporation (TSX.V: ALLI) (OTC: ALLIF) (“Alpha” or the “Company”) is pleased to announce that based on the exceptional results of the first phase of Alpha’s high-powered Vertical Electrical Sounding (“VES”) geophysics program (see press release July 16, 2020), the Company has decided to expand its area of investigation and survey additional acreage in the southern portion of the Tolillar Salar.
The southern portion of the Tolillar Salar is characterized by basaltic flows on the western edge, similar to what is seen in the Hombre Muerto Salar, 10km directly east of the Tolillar Salar. Additionally, it was previously unknown if the 700-meter-thick upper layer of sedimentary rock in the southern portion was brine bearing, or if it was linked to a lithium source. What is exciting for the Company is that it appears as though the highly conductive, presumably brine-bearing zones in the north (where the presence of both brine and lithium have been confirmed) appear to extend south, beyond the captured geophysical data. It also appears that these conductive zones extend from surface to depths of 400-450 meters below surface. This southern area is previously unexplored; and the Company now believes it may hold significant potential.
The Company anticipates that exploration of the new southern acreage will identify additional high-conductivity horizons and yield significant drilling targets and similar results to what was found during our initial VES survey. The Company’s first VES survey demonstrated that the southern limits of the area investigated identified high conductivity that extended south, beyond the data points.
The previous, high-powered VES survey was shot on a small portion of the Company’s 100% wholly owned, 27,500 hectares, over legacy data points that required validation. The Company’s high-powered survey successfully detected several horizons of high conductivity and likely represent subsurface brine deposits. The results coincide with shallow tests previously conducted on the salar, which identified the presence of both brine and lithium.
The detailed operations and planning for a new, expanded southern-area VES survey are underway and arrangements are being made with Conhidro SRL (“Conhidro”), the same team of experts that performed the original VES survey, to conduct the expanded survey.
Brad Nichol, President and CEO, commented, “What an exciting time for Alpha Lithium. On the heels of an exceptionally successful high-powered geophysics program, we are eager to follow the obvious trend south into uncharted territory and open up an exciting new portion of the Tolillar salar. The southernmost extent of our previous VES survey demonstrated obvious, thick, conductive horizons which mandate following the trend to see what we can uncover. We will continue to refine our drilling targets from the first survey and look forward to adding more drilling locations to the mix when we get the results of this second VES survey.”
The Company will report when the southern extension geophysics operations commences.
Mr Pablo Gomez MSc (Hydrogeol) MAIG, Principal Hydrogeologist of Tuareg Geological Services. Mr. Gomez is a member of the Australian Institute of Geoscientists (AIG), a practicing hydrogeologist with extensive experience exploring lithium salt lakes. Mr Gomez is a professor at the University of Salta in Argentina and has worked on several advanced lithium brine projects. He is an independent consultant of Alpha, Mr. Gomez is a Competent Person as defined in the JORC Code (2012) and in 43-101 who has reviewed and approved the scientific and technical content in this release.
ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION
President, CEO and Director
For more information:
Alpha Lithium Investor Relations
Tel: +1 844 592 6337
About Alpha Lithium (TSX.V: ALLI) (OTC: ALLIF)
Alpha Lithium is a growing team of industry professionals and experienced stakeholders focused on the development of the Tolillar Salar. Together, we have assembled 100% ownership of what may be one of Argentina’s last undeveloped lithium salars, encompassing 27,500 hectares (67,954 acres), neighboring multi-billion-dollar lithium players in the heart of the renowned “Lithium Triangle”. Other companies in the area exploring for lithium brines or currently in production include Galaxy Lithium and POSCO at salar Hombre de Muerto; Livent at salar Hombre de Muerto; Orocobre on salar Olaroz; Eramine SudAmerica S.A. on salar Centenario; Gangfeng and Lithium Americas on salar Cauchari;
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of the Company. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. The Company’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements. The Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
Neither the 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.