Drill Results Show 'Good Lithium Concentrations and Basin Continuity'

A Cantor Fitzgerald note reviewed new findings from this joint venture asset in Argentina.

In a Sept. 18 research report, Cantor Fitzgerald analyst Matthew O'Keefe described Advantage Lithium Corp.'s (AAL:TSX.V; AVLIF:OTCQX) recently announced results from Cauchari as "positive" and "returning good lithium concentrations and basin continuity." The data are from the company's phase 3 infill drilling and resource conversion program at its 75%-owned project in Argentina.

Drilling could add 1.43–3 million tons of lithium carbonate equivalent (LCE) to Cauchari's current resource that, already "large," stands at 3 million tons of LCE, indicated O'Keefe.

Relaying the recent findings, Kaip noted lithium brine was continuous between holes CAU07, CAU16, CAU17 and CAU18, all in the northwest sector. Brine sampling in holes CAU20 and CAU21, in the north aspect of the northwest sector, averaged 629 milligrams per liter (629 mg/l) lithium and 4,537 mg/l potassium from a 113–318 meter depth. It averaged 607 mg/l lithium and 4,691 mg/l potassium from a 125–265 meter depth.

O'Keefe pointed out that "grades and chemistry are also better than the current resource, which bodes well for a resource update," anticipated in Q1/19. A definitive feasibility study,a "key derisking milestone paving the way for project financing," would follow in Q2/19. With the completion of that study, "we expect the stock to rerate higher," he wrote.

Click here to continue reading...

Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.

Part of the Stock Digest family of websites

Small Cap Stock Digest



Name Last Change
DOW 25777.70 0.91%
S&P 500 2765.71 0.72%
NASDAQ 7452.48 0.34%
TSX 15850.06 0.97%
TSX-V 612.46 0.00%

Resource Commodities

Name Last Change
Gold 1321.68 0.70%
Silver 15.78 1.01%
Copper 2.78 0.010
Platinum 805.00 2.39%
Oil 54.41 0.94%
Natural Gas 2.57
Uranium 28.83 0.00%
Zinc 1.19 0.00%