VANCOUVER ( – The TSX-listed equity of explorer Advantage Lithium rose more than 7% on Wednesday after it reported a six-fold resource increase at the Cauchari joint venture (JV), in Argentina.

The Vancouver-based company reported a three-million-tonne inferred resource that comprises the northwest and southeast sectors of Cauchari. The resource comprises about 1.2-billion cubic metres of brine at average grades of 450 mg/ℓ lithium and 4,028 mg/ℓ potassium.

The grades were 18% higher than the previous estimate of 470,000t grading 380 mg/ℓ lithium.

The grade of the adjacent Olaroz-Cauchari JV, owned by Lithium Americas, also comes in 25% higher.

The technical report produced by FloSolutions pointed out that the updated resources cover a significantly larger area and extend to greater depths in the northwest and southeast sectors, and it is indeed at depth where the company believes there to be potential for additional resource expansion and higher grades, especially in the SE sector.

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