Kamloops, British Columbia–(Newsfile Corp. – April 7, 2021) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is pleased to announce that it has commenced a drilling program at its recently acquired Saldivar lithium salar in San Luis Potosi, Mexico. This program will test the near surface lithium grade distribution of the salar in preparation for bulk sampling.
The goal of bulk sampling, expected to start within the next couple months, is to run material through the pilot plant to test the economics of using small sized fraction mineral separation, magnetic separation and leaching to efficiently and cost effectively recover lithium. In the recently announced purchase agreement, see news release dated March 2, 2021, the Company is acquiring a pilot plant designed and built under the guidance of Dr. Roberto Perez Garibay, an expert in mineral recovery, and a patented extraction method.
The drilling program will be done on a grid basis using a 100m line spacing. It is expected that the holes will be drilled down to 50m. Additionally, one hole will go deeper to test the depth to bedrock which at the moment is wide open and has never been tested. Historical work at the Saldivar salar has been confined to the first 5m from surface.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “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. 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% of the material in the salars. Using those separation methods will give us a high-grade concentrate, Dr. Perez Garibay has previously done lab testing on our material to show that after using small sized fraction mineral separation and magnetic separation that the concentrate can then go through leaching and produce high purity lithium. Our key goal is to move as quickly as possible to start moving material through the test plant we purchased, which was designed and built under the guidance of Dr. Perez Garibay. 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.”
Julio Pinto Linares is a qualified person, doctor in geological sciences with specialty in economic geology and qualified professional No. 01365 by MMSA for Advance Gold and is the qualified person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
About Advance Gold Corp.
Advance Gold is a junior exploration company 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, also in Zacatecas state, in April, 2018. In addition, Advance Gold holds an 11.45% interest in strategic claims in the Liranda Corridor in Kenya, East Africa. The remaining 88.55% of the Kakamega project is held by Shanta Gold Limited (project previously owned by Barrick Gold Corporation, for details see Advance Gold News Release dated 2020-08-26).
For further information, please contact:
Allan Barry Laboucan,
President and CEO
Phone 492-238-5282 (Direct-Mexico Cell)
Email: [email protected]
www.advancegold.ca
This news release contains certain statements that may be deemed “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change, except as required by law.
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