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Advantage Lithium increases resources at Cauchari ahead of study

Advantage Lithium Corp. completed an updated resource estimate for its flagship Cauchari property in Argentina.

The project hosts inferred resources of 3 million tonnes of lithium carbonate equivalent in approximately 1.2 cubic kilometers of brine grading 450 mg/L of lithium and 4,028 mg/L of potassium, with 9.5 million tonnes of potassium chloride.

The brine resource comprises the northwest and southeast sectors of Cauchari, covers an area of 92.6 square kilometers and incorporates data from phase-one and phase-two drilling and a cutoff concentration of 300 mg/L of lithium.

Advantage Lithium said May 23 that the updated estimate will form the basis of a preliminary economic assessment expected to be completed in the second quarter. The company is also undertaking a third phase of drilling focused on upgrading resources.

"In parallel with our phase III program, Advantage will be aiming to complete a [preliminary economic assessment] in [the second quarter] and then progress immediately to a definitive feasibility study for a potential 20,000 tonnes per annum (ktpa) of lithium carbonate," CEO David Sidoo said in the statement.

Completion of the feasibility study is targeted in the second quarter of 2019.