Argentina Lithium Confirms Lithium at Depth at Arizaro Salar and Extends Testing Program

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VANCOUVER, British Columbia, Nov. 14, 2017 (GLOBE NEWSWIRE) -- (TSX-V:LIT) (FSE:OAY1) (WKN:A0RK7E) (OTC:PNXLF) is pleased to announce that the first two drill holes at the Arizaro project have encountered lithium-bearing brines below surface in the central area of the salar with values as high as 257 mg/l lithium. A substantial brine aquifer has not yet been reached but modest volumes of significantly anomalous lithium-bearing brines were retrieved starting at depths of between 15 and 356 metres.  The depth of drilling was limited by the drill equipment used, therefore the Company plans to continue drilling in these areas using suitable deeper-drilling equipment, following more detailed geophysical and seismic surveys of the Arizaro basin.

The central area holes both drilled through mainly massive halite with short sections of intercalated clay layers, or layers of sand. At approximately 300 metres depth Hole ARI-01 encountered mainly sand with lessor sandstone layers to the end of the hole at 398 metres, with several anomalous results in these units.  Hole ARI-03 in the southern claim block drilled through a halite cap to approximately 9 metres, then 23 metres of high porosity sand that was followed by a mix of low porosity mixed sand units to 236 metres depth. The hole finished in the basement of red conglomerates of moderate porosity.    Drill hole sections for the first two holes are shown in Figure 1:  .

Results of sampling are compiled in Table 1 below, and hole location information is listed in Table 2 below.  Samples of brine were obtained by either bailer or packer testing, depending on the drill rig, as outlined below.  Volumes of brine were low and no substantial aquifer was intersected.  Hole ARI-01 ended in sands with highly anomalous values, and the Company is optimistic that a higher grade lithium-brine aquifer could still be present at greater depths.   ARI-02 ended in massive halite, however, it was not drilled as deep as the first hole.   These holes were positioned based on low resistivity/high conductivity results from the vertical electric sounding surveys, however this method provides limited information at depths below approximately 300 metres.  Therefore, the Company plans to execute a seismic and Controlled-source Audio-frequency Magnetotellurics (CSAMT) geophysical surveys to better map the depths of the basin and conductive layers that may be related to lithium-bearing brines.

Results for ARI-03 in the southern claim block are incomplete at the time of writing, however based on preliminary analyses the remaining samples from the bottom are expected to have similar or lower levels of lithium and potassium to those from the top of the hole.

Samples in Hole ARI-01 were collected with a double packer. This method allows the collection of samples at specific depths while sealing the hole at the bottom and at the top of the sample. The second drill rig used for holes ARI-02 and -03 was not equipped to sample with a double packer, therefore samples were collected with a Bailer apparatus. Hole ARI-1 was drilled at HQ3 size (outer diameter of 95.76 mm). Hole ARI-02 was drilled at HQ3 from 0 to 105.3m and then completed at NTW size (75.88 mm).  Hole ARI-03 was drilled from 0 to 140.15m at HQ3 then at NTW.

All samples were collected in hard white plastic 1 litre bottles with samples numbers clearly identified. The samples were sent to the Alex Stewart Argentina S.A laboratory in Mendoza, Argentina (“Alex Stewart”), an ISO 9001:2008 certified laboratory, with ISO 17025:2005 certification for the analysis of lithium and potassium. Alex Stewart employed Inductively Coupled Plasma Optical Emission Spectrometry (“ICP-OES”) as the analytical technique for the primary constituents of interest, including: boron, calcium, potassium, lithium, magnesium and sulphur. Measurements in the field included pH, conductivity, temperature and density. The laboratory took the same measurements and they were consistent with the field data.  A duplicate set of samples with different numbering was sent to the Alex Stewart NOA laboratory in Jujuy, and the results confirm the Mendoza lab analyses.

ON BEHALF OF THE BOARD

For further information please contact:Corporate Communications Tel: 1-604-687-1828 Toll-Free: 1-800-901-0058Email:

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Globe Newswire: 16:46 GMT Tuesday 14th November 2017

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