VANCOUVER, British Columbia, July 16, 2020 — Alpha Lithium Corporation (TSX.V: ALLI) (OTC: ALLIF) (“Alpha” or the “Company”) is pleased to announce that it has completed its analysis of the first phase of Alpha’s high-powered Vertical Electrical Sounding (“VES”) geophysics program. This has resulted in the identification of what is believed to be significant brine deposits extending across the majority of the relatively small portion of the Tolillar Salar that was investigated.
The high-powered VES survey was shot on a small portion of the Company’s 27,500 hectares and successfully detected several horizons of high conductivity which likely represents subsurface brine deposits. The results coincide with shallow tests previously conducted on the salar which identified the presence of both brine and lithium.
As a result, discussions have commenced regarding expanding the survey area to the previously unexplored southern portion of the salar. The survey results also suggest that drilling a combination of shallow and deep holes to investigate the brine chemistry and hydraulic and hydrochemical behaviour of existing facies is highly warranted.
Brad Nichol, President and CEO, commented, “Our entire team is delighted about the results. We have identified highly conductive zones that are hundreds of meters thick and that extend beyond our area of investigation; thus, motivating us to consider another geophysical survey in a new part of our salar. We will continue to refine the results to determine the best drilling locations and start the process of securing the necessary permissions, equipment, and personnel to do so. It’s an exciting result during an exciting time for Alpha!”
This was the second VES survey conducted on the property and it incorporated a total of 24 VES measurements to determine sediment thickness and subsurface structural conditions. Of the 24 shots, five parametric control soundings were shot on different known outcrops beside the salar to provide additional confidence in the results.
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 Lithium. Mr. Gomez is a Competent Person as defined in the JORC Code (2012) and NI 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.
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