Aldebaran soars to new high as it teams up with Rio Tinto venture on Altar project
Nuton, Rio Tinto's leaching technology venture, can earn 20% of the project by making staged payments totalling $250 million.
After completing its phase two and three drill programs at its flagship Cauchari lithium project in Jujuy, Argentina, Advantage Lithium has more than doubled the project’s resource. Based on its new measured and indicated resources, the company says Cauchari is now Argentina’s second largest development project.
Based on the updated resource, the project now contains 1.8 billion measured and indicated cubic metres brine grading 476 milligrams per litre (mg/l) lithium for 4.8 million tonnes lithium carbonate equivalent.
The project also contains 600 million inferred cubic metres brine at 473 mg/l for 1.5 million tonnes lithium carbonate equivalent. It is the first time Advantage Lithium has updated its Cauchari resource since May 2018.
The company has broken its resource into six difference geological units. It considers the project’s Archibarca Fan and SE Sector the two most important areas for future brine production.
Archibarca Fan alone contains 1 million tonnes lithium carbonate equivalent at 564 mg/l lithium in the measured category; the SE Sector contains roughly 3 million tonnes lithium carbonate equivalent at 481 mg/l lithium in the measured and indicated categories.
(This article first appeared in The Northern Miner.)
