VANCOUVER, British Columbia, November 10, 2020 — Alpha Lithium Corporation (TSX.V: ALLI) (OTC: ALLIF) (“Alpha” or the “Company”), sole owner of one of the last large, undeveloped salars in Argentina’s famed Lithium Triangle, is pleased to announce that full analysis of Alpha’s latest geophysics program has provided excellent results. First, the brine body prevalent in the northern part of the salar appears to deepen and extend extensively to the south; and second, supporting Alpha’s underlying geological thesis for Tolillar, potentially favorable deposits similar to nearby salars have been identified to great extent in the southern part of the Tolillar Salar.
Results from the Vertical Electrical Sounding (“VES”) geophysical survey support the concept that the basin in Tolillar Salar is similar to the neighboring prolific Hombre Muerto Salar. Similar to Hombre Muerto and other nearby lithium-rich salar basins in the region, Tertiary sedimentary rocks form the basin-bounding rocks to the west of the Tolillar Salar, and likely have resulted in similar basin fill conditions. Basin fill sediments have recently provided outstanding results in Hombre Muerto and help support the Company’s conceptual hydrogeological model and the Company’s technical investment thesis. Having favorable brine targets positively identified from the geophysical surveys provides the Company with significant support to aggressively move forward and further its understanding of the formation qualities through additional drilling.
The potentially favorable aquifer target identified from the VES study extends beyond the southernmost extent of what was surveyed, and appears to extend deeper than what the equipment was able to measure, giving it a thickness of at least 170 meters. This is a highly significant discovery and supports the need for additional exploration drilling.
Additionally, the VES results demonstrate that the brine body identified as pervasive in the first geophysical survey (see press release July 16, 2020) extends for another 10 km2 into the southern portion of the Tolillar Salar. It is measured to be between 73 meters and at least 267 meters thick and extends deeper than what the VES equipment was capable of measuring.
As a result, the Company intends on adding additional drilling locations to what was previously announced (see press release October 28, 2020). Two new drilling targets are being planned for the southern portion of Alpha’s Tolillar Salar to investigate the lithium potential of the anticipated brines in these basin sediments. The first well is planned for a depth of 450-550 meters but could go deeper if favorable conditions are encountered. Based on the results of the first hole, the second hole could extend to a depth of 650 meters or more.
Brad Nichol, President and CEO reports, “The significance of extending the existing brine body of the Tolillar Salar further south, cannot be underestimated. We consider the geological similarities between the Tolillar salar and other nearby salars like Hombre Muerto to be very encouraging. Similar to these other salars, the mid-Tertiary sediments like the Geste and Vizcachera Formations that border the basin also contribute to filling the basin with coarse grained sediments. We are aware of the potential for incredible flow rates and in-situ lithium concentrations in neighboring Hombre Muerto and are hopeful that the exploration program will encounter similar conditions. As a result, our team is excitedly preparing the permit applications so this new zone can be effectively drilled and tested in the most prudent and expeditious manner.”
In addition to readying equipment and personnel to commence drilling operations, Alpha is planning for future operations by constructing a weather station on the Tolillar Salar, which will provide valuable information for wind speed, wind direction, temperature, humidity, precipitation, barometric pressure, and other important meteorological data. All of this data will be utilized for development of a basin water balance, and for designing, planning and constructing various holding and production ponds typically used in the extraction of lithium at high altitude (4,300 meters above sea level) in the Lithium Triangle.
As previously reported (see press release dated October 28, 2020), Alpha is also expanding the size and capabilities of its original camp to a 20-person (expandable to 40-person) camp and moving to a new, more permanent location on the Tolillar Salar with immediate access to fresh water. The fresh water will be sourced on-site and is intended to be used for everything from lab operations to sanitization.
Mr. Michael Rosko, MS, PG, SME #4064687, of Montgomery and Associates of Santiago, Chile (“M&A”), is a Registered Geologist (C.P.G.) in Arizona, California, and Texas, a Registered Member of the Society for Mining, Metallurgy and Exploration, and is a qualified person (QP) as defined by NI 43-101. Mr. Rosko has extensive experience in salar environments and has been a QP on many lithium brine projects. Mr. Rosko and M&A are independent of Alpha Lithium Corp. Mr. Rosko has reviewed and approved the scientific and technical content of this news 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, Livent, and POSCO in Salar del Hombre Muerto; Orocobre in Salar Olaroz; Eramine SudAmerica S.A. in Salar de Centenario; and Gangfeng and Lithium Americas in Salar de 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.