26 April 2017
ANNOUNCEMENT First lithium drill hole at Agua Fria (Sonora Mexico) a success for the Electra JV partners, Lithium Australia (ASX: LIT) and Alix Resources (TSX:V AIX).HIGHLIGHTS
Agua Fria strike potential verified as more than 5km
Drill intersection of lithium bearing sediments commences at surface
The prospective horizon exceeds 100m thickness
Two intervals of over 1000ppm Li
Portable LASER based analytical equipment successful
Preliminary metallurgical results show path to low-cost processing
SUCCESSFUL TARGET INTERSECTIONS
The maiden reverse circulation ("RC") hole collared in lithium bearing sediments and intersected two intervals of +1,000 parts per million ("ppm") lithium (Li) on the Agua Fria target, of the Electra Project in Sonora, Mexico (Figure 1).
The target sediments are similar in origin to the neighbouring La Ventana deposit, operated by Bacanora Minerals and thought to be the largest lithium "clay" deposit yet identified. The Agua Fria prospect has similar dimensions to La Ventana and is characterized by fine-grained minerals, only a small proportion of which contain lithium, providing significant potential to increase plant feed grades by beneficiation.
Figure 1 Agua Fria is located within the same geological environment as the adjacent La Ventana deposit, subject of Bacanora Minreals' development plans.
The current equity in the Electra Joint Venture, of which Agua Fria is part, is Lithium Australia 49% and Alix Resources Corporation 51%.
DRILLING RESULTS
The first vertical hole, AF-17-001 (Figure 2), was drilled to a depth of 126 meters, intersecting two intervals of +1,000 ppm Li in clay-bearing volcanogenic sediments, including 33 meters from 3 to 36 meters averaging 1,058ppm Li, and 21 meters from 54 to 75 meters averaging 1,043ppm Li.
Figure 2 Shows the location of the maiden drill hole AF -17-101. Outcrop of the prospective sedimentary horizon is buff coloured.
Assays for the drill hole are shown in Appendix I. Assays over 1,000 ppm are significant, and represent the cut-off grade used by SRK Consulting (UK) Limited on the neighboring La Ventana lithium deposit, owned jointly by Bacanora Minerals Limited (70%) and Rare Earth Minerals PLC (30%).
Drilling on the Agua Fria project is progressing well with five completed holes totaling 627 meters. Assays have only been received for hole AF-17-001.
SUCCESSFUL IN-FIELD LITHIUM ASSAYS
The Agua Fria project is believed to be the first, comprehensive, fielding test of a portable Laser Induced Breakdown Spectroscopy (LIBS) using a SciAps Z300 instrument pre-calibrated for material type and lithium grade to provide "real time" assay verification.
Li assays have been received from one drill hole (AF-17-001), and the initial correlation between obtained laboratory values to concentrations determined by the SciAps Z300 shows very good correlation with laboratory results (Figure 3).
Lab Assay vs SciAps Chart
1600
1400
1200
1000
800
600
400
200
0
3 9 15 21 27 33 39 45 51 57 63 69 75 81 87 93 99 105 111 117 123
Drilled Meter
Lab Li (ppm)
SciAps Li (ppm)
Lithium Concentration (ppm)
Figure 3 Shows down-hole results for lithium (ppm) derived from drill hole AF-17-001.
The comparison between the LIBS and lab assays is presented in Appendix I with quality control detailed in the 2012 JORC Code Table 1, both of which are at the end of this report.
PRELIMINARY METALLURGICAL RESULTSInitial tests undertaken on trench samples from Agua Fria indicate the lithium is contained within a small fraction of the mass of the target material, providing good potential to increase plant feed grades by separating the lithium bearing component.
Laboratory tests confirm that the lithium can be liberated in sulphuric acid, at ambient temperatures, potentially providing a cheap means of recovering value from the target material.
Lithium Australia Managing Director, Mr Adrian Griffin:"The maiden drill results demonstrate a target of great significance. These results, together with the outcome of the preliminary metallurgical tests, indicate the robustness of the lithium style mineralisation at our Mexican JV holdings."
Adrian GriffinManaging Director
Mobile +61 (0) 418 927 658 Z
Adrian.Griffin@lithium-au.com
LIT is a dedicated developer of disruptive lithium extraction technologies. LIT has strategic alliances with a number of companies, potentially providing access to a diversified lithium mineral inventory. LIT aspires to create the union between resources and the best available technology and to establish a global lithium processing business.
MEDIA CONTACT:
Adrian Griffin Lithium Australia NL 08 6145 0288 | 0418 927 658 Kevin Skinner Field Public Relations 08 8234 9555 | 0414 822 631Competent Persons Statement:
The information contained in the report that relates to Exploration Results is based on information compiled or reviewed by Mr. Adrian Griffin, who is an employee of the Company and is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Griffin has given consent to the inclusion in the report of the matters based on this information in the form and context in which it appears.
APPENDIX I Laboratory assay results and comparison with field-based Laser Induced Breakdown Spectroscopy results produced by a SciAps Z-300 hand-held instrument.Hole No: | AF-17-001 | Easting: | 682027 | |||||
Drill Date: | 03/04/17 - 05/04/17 | Northing: | 3235939 | |||||
SciAps Date: | 04/04/17 - 06/04/17 | RL: | 758 | |||||
Coord Sys: | WGS 84 / UTM Zone 12N | Azi/Inc: | 0° / -90° | |||||
ID | From (m) | To (m) | Lab Li (ppm) | SciAps Li (ppm) | #1 | #2 | #3 | Comment |
1 | 0 | 3 | 690 | 657 | 597 | 764 | 609 | |
2 | 3 | 6 | 1180 | 941 | 1069 | 845 | 909 | |
3 | 6 | 9 | 1300 | 1034 | 1029 | 1092 | 981 | |
4 | 9 | 12 | 950 | 922 | 926 | 921 | 918 | |
5 | 12 | 15 | 510 | 509 | 544 | 499 | 484 | |
6 | 15 | 18 | 1290 | 1129 | 1191 | 1067 | 1130 | |
7 | 18 | 21 | 1370 | 1174 | 1096 | 1165 | 1261 | |
8 | 21 | 24 | 950 | 843 | 814 | 903 | 814 | |
9 | 24 | 27 | 1140 | 1083 | 1141 | 1066 | 1041 | |
10 | 27 | 30 | 1090 | 994 | 993 | 988 | 1000 | |
11 | 30 | 33 | 940 | 950 | 1029 | 924 | 898 | |
12 | 33 | 36 | 920 | 934 | 921 | 911 | 970 | |
13 | 36 | 39 | 640 | 691 | 671 | 736 | 668 | |
14 | 39 | 42 | 720 | 686 | 691 | 639 | 729 | |
15 | 42 | 45 | 600 | 630 | 722 | 617 | 551 | |
16 | 45 | 48 | 850 | 878 | 901 | 890 | 841 | |
17 | 48 | 51 | 980 | 1092 | 1001 | 1044 | 1232 | |
18 | 51 | 54 | 262 | 386 | 399 | 413 | 345 | |
19 | 54 | 57 | 810 | 1081 | 1109 | 1104 | 1029 | |
20 | 57 | 60 | 1410 | 1396 | 1406 | 1444 | 1338 | |
21 | 60 | 63 | 680 | 677 | 667 | 667 | 696 | |
22 | 63 | 66 | 1090 | 1295 | 1360 | 1220 | 1306 | |
23 | 66 | 69 | 1440 | 1389 | 1410 | 1366 | 1392 | |
24 | 69 | 72 | 930 | 880 | 868 | 855 | 917 | |
25 | 72 | 75 | 940 | 1005 | 1016 | 1032 | 967 | |
26 | 75 | 78 | 630 | 712 | 717 | 728 | 689 | |
27 | 78 | 81 | 800 | 744 | 750 | 712 | 770 | |
28 | 81 | 84 | 900 | 697 | 679 | 738 | 673 | |
29 | 84 | 87 | 198.5 | 299 | 311 | 303 | 283 | |
30 | 87 | 90 | 500 | 516 | 526 | 525 | 497 | |
31 | 90 | 93 | 393 | 499 | 509 | 470 | 518 | |
32 | 93 | 96 | 680 | 822 | 856 | 789 | 821 | |
33 | 96 | 99 | 520 | 531 | 533 | 520 | 539 | |
34 | 99 | 102 | 580 | 660 | 681 | 612 | 687 | |
35 | 102 | 105 | 550 | 568 | 575 | 523 | 605 | |
36 | 105 | 108 | 770 | 739 | 799 | 725 | 694 | |
37 | 108 | 111 | 600 | 529 | 543 | 520 | 524 | |
38 | 111 | 114 | 750 | 813 | 720 | 823 | 897 | |
39 | 114 | 117 | 450 | 657 | 679 | 654 | 637 | |
40 | 117 | 120 | 266 | 487 | 492 | 475 | 494 | |
41 | 120 | 123 | 306 | 422 | 411 | 428 | 428 | |
42 | 123 | 126 | 336 | 620 | 614 | 686 | 559 | End of Hole |
Lithium Australia NL published this content on 26 April 2017 and is solely responsible for the information contained herein.
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