Alpha Lithium Announces First Lithium and Potassium Resources at the Tolillar Salt Flat in Argentina

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(Kitco News) – Alpha Lithium (TSX.V: ALLI) today announced the first preliminary lithium and potassium resources for its Tolillar brine project in the province of Salta in Argentina.

According to the company’s statement, the resource estimate includes 2,119,000 tonnes of indicated lithium carbonate equivalent and 1,158,000 tonnes of inferred lithium carbonate equivalent (LCE).

The resource estimate also includes 7,387,000 tonnes of potassium equivalent (KCl) in the Indicated category and an additional 4,786,000 tonnes of KCl in the Inferred category.

The company said the resources are labeled “preliminary” because Montgomery & Associates, which prepared the independent resource estimate, noted that additional resources are expected to be added in the future, primarily due to the fact that only 9,000 (33%) of the 27,500 A one-hectare site was explored.

President and CEO Brad Nichol said, “We are very pleased to see a strong NI 43-101 resource estimate from our hydrogeology consultants. We plan to expand these resources by drilling (i) deeper, as we have not reached bedrock, (ii) laterally, as we have not drilled anywhere near the salar extent, and (iii ) thanks to the increase in lithium contents, as we continuously improve our understanding of the hydrodynamics of the salar.

“Importantly, the company now has a robust, albeit preliminary, resource estimate that will allow us to proceed with our planned economic assessment. Since the recent bought deal financing closed and our reserves increased cash flow to over $45 million, we are confidently advancing Tolillar to the next level.”

Alpha Lithium is focused on the development of Salars de Tolillar and Hombre Muerto in Argentina. The company said that in Tolillar it had acquired 100% ownership of what may be one of the last undeveloped lithium salars in Argentina, encompassing 27,500 hectares (67,954 acres), from neighboring lithium players of several billion dollars in the heart of the famous “Lithium Triangle”. In Hombre Muerto, the company continues to expand its footprint by more than 5,000 hectares (12,570 acres).

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