Alpha Lithium Completes Latest Geophysics Program and Applies for Drilling Permits at Its Tolillar Lithium Project, Argentina
VANCOUVER, British Columbia, Oct. 06, 2020 (GLOBE NEWSWIRE) — Alpha Lithium Corporation (TSX.V: ALLI) (OTC: ALLIF) (“Alpha” or the “Company”) is pleased to announce that it has completed its latest round of geophysics using high-powered Vertical Electrical Sounding (“VES”) technology (see press release August 26, 2020). The Company is applying to reinstate drilling permits on certain tenements, which expired during the COVID-induced government shutdown.
The latest round of geophysics was conceived on a decision to expand the area of investigation and survey additional acreage in a previously unexplored portion of the Tolillar Salar. The Company’s earlier geophysics results (see press release August 5, 2020) had identified a potential extension to the south of the previously explored area, in addition to identifying several exciting brine horizons in the northern part of the salar.The recently completed geophysics program experienced some delays due to inclement weather and additional COVID-related restrictions levied on visitors or passersby through remote, high-altitude villages in the Andes Mountains. All delays were temporary and are not expected to significantly delay future operations at the Tolillar Salar.The Company’s team of experts from Conhidro SRL (“Conhidro”) have commenced full analysis of the raw data and are expected to provide a report to Alpha management in several weeks.Additionally, based on all the geophysical and hydrogeological results to date, the Company has undertaken a process to ensure the few drilling permits that expired are restored so the Company can secure a drilling rig and commence drilling operations as soon as possible. The high-powered VES technology utilized by Alpha has provided several drilling locations and several horizons to investigate with the drill bit. The multiple conductive zones identified appear to exist at depths as shallow as 50 meters to depths as deep as 450 meters, and beyond.The results coincide with shallow tests previously conducted on the salar, which identified the presence of both brine and lithium. Brad Nichol, President and CEO, commented, “It is an incredibly rewarding moment to finally be thinking about and planning for the upcoming drilling campaign. We know that our original geophysics program successfully identified several drilling targets, and we expect that the now-completed second geophysics program will provide us with even more exciting targets.” Nichol continued, “Since closing our bought deal and injecting over $10 million into treasury, we have been inundated with opportunities in the lithium sector. Our board, management and local team members are evaluating several exciting opportunities and we are doing so with our eye on diligently maximizing shareholder value. I am hopeful that this fall and winter are incredibly busy with the undertaking of a drilling campaign.”Qualified PersonMichael Rosko, MS PG, SME #4064687, independent consultant of Alpha, is the qualified person as defined in 43-101 who has reviewed and approved the scientific and technical content in this release.ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION