Further drill exploration at Pastos Grandes reveal strong lithium levels

Exploration hole PGMW17-05/5c, was drilled to a depth of 601 metres and terminated in brine-bearing sand. This hole, coupled with the results of holes PGMW16-01 and PGMW16-02, and PGMW17-04b confirm the extension of the brine throughout the central portion of the salar. Hole PGMW17-5c intersected an upper brine horizon grading 523 milligrams/litre of lithium over 33 metres deep.

Millennial CEO, Farhad Abasov, commented: “At Millennial we are very encouraged to see that drilling in the Pastos Grandes salar continues to encounter very thick lithium brine-bearing sequences in the central portion of the salar to a depth of approximately 600m. The average lithium content of the lower brine horizon in hole PGMW17-05/5c is 545 mg/L over 211.3m, similar to values and widths encountered in well PGMW17-04b located several kilometres west of well 5c. Millennial has increased its drilling fleet to three machines at Pastos Grandes to expedite the technical work in advance of a maiden resource estimate to be completed this fall.”

A sampling system was used to record Exploration well PGMW17-05/5c, which drilled to a depth of 601m. This system allowed the samples to be made at specific intervals. 25 cores samples were made, including 17 brine samples from two specific intervals: 27.5m to 60.5m and 381.7m and 583m. The Company expects brine yield from the entire section, however sampling focused on the most productive zones. The upper brine zone returned, an average lithium grade of 523 mg/L and an average magnesium/lithium ratio of 6.8. The lower main brine zone, measured from 381.7m to 601m, yielded an average lithium grade of 545 mg/L and an average magnesium to lithium ratio of 6.0. Individual lithium grades from the hole range from a low of 460 mg/L to a high of 574 mg/L. Potassium values range from 4680 mg/L to 6186 mg/L and average 5847 mg/L over the lower brine zone intersection. Poorly consolidated clastic sediments, primarily sand, form the majority of the lower lithium-brine-bearing unit and continue to the bottom of the hole. Exploration well PGMW17-05c was terminated at 601m as this was the maximum depth capacity for the drill rig in these conditions; the sand zone remains open at depth.

The completion of well PGMW17-05/5c to 601m in a brine-bearing formation is further evidence of a high levels of lithium in the brine zones to significant depths in the centre of Millennial’s land position at Pastos Grandes. Exploration well PGMW17-04b encountered similar stratigraphy with lithium brine-bearing sands to the end of the hole at 564m. Millennial has added a third rig to the Pastos Grandes Project that has greater capacity to drill deeper and define the base of the lithium brine-bearing sands. This rig is currently drilling at exploration well PGMW17-07. In addition, the two original drill rigs continue to operate throughout the property in preparation for the modeling of a maiden resource due late third quarter or early fourth quarter of 2017.

Sampling was conducted in accordance with CIM guidelines for brine resource evaluation.

Read the article online at: https://www.globalminingreview.com/exploration-development/21082017/further-drill-exploration-at-pastos-grandes-reveal-strong-lithium-levels/