Exploration Drilling Continues to Outline Extensive Brine Horizons and Increased Lithium Grades at Pastos Grandes

Millennial Lithium Corp. reported positive analytical results from the latest exploration well at its wholly owned Pastos Grandes Project in Salta. Exploration hole PGMW17-04b was drilled to a depth of 564 metres (m) and terminated in a brine-bearing formation. This hole, coupled with the results of holes PGMW16-01 and PGMW16-02, confirm the salar’s brine carrying capacity extends to much greater depths than encountered in previous exploration wells. Hole PGMW17-04b intersected a robust brine horizon averaging a lithium grade of 535 milligrams per litre (mg/L) from 93.5m to 475m.

Millennial CEO, Farhad Abasov, commented: «We are very pleased to see that drilling in the Pastos Grandes salar continues to encounter very thick lithium brine-bearing sequences. The average lithium content of hole PGMW17-04b is 535 mg/L over an impressive 381.5m which is significantly higher than the values encountered in previous drilling. Millennial currently has two drills turning and another arriving this week to further define the lithium-bearing brine in this region as it works toward a maiden resource estimate.»

Exploration well PGMW17-04b, drilled to a final depth of 564m, was sampled using a double packer system which is designed to isolate sample intervals. Twenty-seven brine samples were collected from depths of 93.5m to 475m, and yielded an average lithium grade of 535 mg/L with an average magnesium/lithium ratio of 5.6. Individual lithium grades from the hole range from a low of 463 mg/L to a high of 623 mg/L. Potassium values range from 4,906 mg/L to 6,148 mg/L and average 5,610 mg/L over the 381.5m intersection.

The completion of well PGMW17-04b to a depth of 564m in a brine-bearing formation is encouraging for the delineation of a potential resource in the salar. Past drilling at Pastos Grandes confirmed the presence of lithium-rich brine to a depth of approximately 400m; the results of well PGMW17-04b suggest significant potential to expand the lithium resource below the 400m depth. Drilling continues throughout the property in preparation for the modelling of a maiden resource due late third quarter or early fourth quarter of 2017. Two holes are currently in progress and expected to be completed by the end of the month.

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