Vancouver, British Columbia – May 5, 2020 (GLOBE NEWSWIRE) – Alpha Lithium Corporation (TSX.V: ALLI) (OTC: ALLIF) (“Alpha” or the “Company”) is pleased to announce it has commenced assessing all available historic data regarding it’s recently acquired Salar de Tolillar Project (“Tolillar” or the “Project”) located within the Salta provincial boundaries of the Puna region of the northwestern part of Argentina.
The 100% Company-owned 27,500-hectare property lies in the heart of Argentina’s portion of the renowned “lithium triangle” and neighbours multiple significant lithium projects including Argentina’s largest multi-billion-dollar lithium producer. Since 2012 several partial exploration programs have been undertaken including surface brine sampling (2012), trench brine sampling (2014), shallow borehole studies (2015), and a vertical electrical sounding (“VES”) survey in 2017. The previous preliminary programs offered encouraging results ranging up to 504 mg/L, with limited seismic data providing an intriguing although largely incomplete understanding of the basin.
Brad Nichol, Company CEO notes, “Today’s announcement highlights the combined efforts between our growing team in Argentina under David Guerrero, our newly appointed Country Manager, who has engaged trusted, local hydrogeological experts with vast Argentine lithium exploration experience, including at the Hombre Muerto, Cauchari and Olaroz salars, amongst others. The team has sourced, referenced and is reviewing all available regional and localised geophysical data. It has already been determined that the historic data was previously shot on a very small area of Tolillar Salar with underpowered equipment, thereby limiting depth penetration. The data reviewed to-date, when interpreted in conjunction with numerous regional factors that have only become evident in recent years, is believed by Company experts as offering a general geological hypothesis for favourable hydrology with potential for depth and extent of lithium mineralisation within the basin.”
Alpha reports all permits are in-place to proceed with an advanced seismic survey, which it plans to conduct upon conclusion of the historical data analysis and generation of primary study locations. The Company intends to improve upon the existing geological model using higher-powered equipment resulting in deeper penetration combined with a highly detailed area-wide program to include much larger, previously unexplored sections of the massive salar. The program is designed to indicate specific locations for the planning of future drill locations and concurrent roads, base camp, storage depot and related infrastructure requirements as part of the operational strategy to determine the nature, extent and valuation of the Tolillar asset.
As noted previously, the Argentinian government supports ongoing mining activities in Salta province as an “essential activity” during the current COVID-19 pandemic. The company continues to actively monitor the situation and is working closely with its in-country team to implement preventative measures to safeguard the health of its employees and contractors.
Michael Rosko, MS PG, SME #4064687, independent consultant of Alpha, is the qualified person as defined 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”.
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.