- Advance Gold (AAX) has begun drilling at the Saldivar lithium salar in Mexico
- The program will test near-surface lithium grade distribution of the salar in anticipation of bulk sampling
- Materials will be run through the pilot plant to test the economics of using small-sized fraction mineral separation, magnetic separation and leaching to recover Lithium
- Additionally, the drilling will be done on a grid basis using 100 metres of line spacing
- Holes are expected to be drilled down to 50 metres
- Shares of Advance Gold remain unchanged at C$0.09 as of 9:45 a.m. EDT
Advance Gold (AAX) has begun drilling at the Saldivar lithium salar in San Luis Potosi, Mexico.
The company added the lithium salars to its portfolio at the beginning of March through its 100 per cent wholly-owned subsidiary, Advance Gold S.A. de C.V.
According to the press release, the drilling program will test the near surface lithium grade distribution of the salar ahead of bulk sampling.
"We are looking at a two-pronged approach to meet our goals. The first is the near-surface drilling to get a better understanding of the grade distribution at surface," Allan Barry Laboucan, president and CEO of Advance Gold, said in a release.
"This will help us to plan our bulk sampling program to get a handle on the economics of using small-sized fraction mineral separation as the lithium is found in the small size fractions and non-magnetic material which makes up around 20 per cent of the material in the salars."
The program will be done on a grid using 100 metres of line spacing as the basis.
The company anticipates drilling the holes down to 50 metres, with one hole going deeper in order to test the depth to bedrock. Work at the Saldivar salar has historically been confined to only the first 5 metres from the surface.
"It is our belief that the salars we are purchasing have the realistic potential of becoming near-term lithium producers and it is our intention to prove that as quickly as possible and the work we are starting at Saldivar, is designed to meet that goal," Laboucan added.
With headquarters in Kamloops, BC, Advance Gold is a junior exploration company primarily focused on acquiring and exploring mineral properties containing precious metals.
The company acquired a 100 per cent interest in the Tabasquena silver mine in Zacatecas, Mexico, in 2017 and the Venaditas project, which is also in Zacatecas state, in April 2018.
Shares of Advance Gold remain unchanged at C$0.09 as of 9:45 a.m. EDT.