FIRST LITHIUM MINERALS CORP. First Lithium Minerals Corp. provided an exploration update at its 100% owned OCA project ("OCA Project") in the Antofagasta Region of northern Chile. The Company completed a selective geochemical surface sampling program at the Salar de Ascotan.
A total of 15 brine and brackish water samples were collected directly off the surface in the salar at depths of up to 0.3 meter and in the alluvium surrounding the salar surface. Results from AGS Laboratory, Coquimbo, Chile assays of the complete sample set range from trace to 78 Li (mg/L), with the average of 42.6 Li (mg/L) and median of 57.3 Li (mg/L). Potassium assay values averaged 1,042.8 K (mg/L) with a median at 1,445 K (mg/L), and Boron averaged 705.1 B (mg/L) with a median of 1,003.3 B (mg/L).
As total dissolved solids (TDS) concentrations increase with depth in common hydrogeological settings of northern Chilean salars, the geochemical results are congruent with the expectation that lithium and alkaline metals should be present in higher concentrations at depth. The Company is advancing to its inaugural brine resource exploration program in the northeastern property areas at the Salar de Ascotan (approx. 1,775 ha), which also displayed promising geophysical characteristics based on the Transient Electromagnetic ("TEM") and MagnetoTelluric (MT) geophysical surveys conducted in Q4/22 and Q1/23.
Future drilling and sampling are planned to test the conceptual hydrogeologic model, enhance understanding of the controls as well as obtain a more comprehensive understanding of the lithium and alkaline metals bearing brines and sediments and their economic potential. In August 2023, First Lithium Minerals personnel met with the Quechua Cebollar Ascotan Community on the envisioned exploration activities, visited the proposed sites for a drilling program, and discussed the areas and elements of future cooperation and engagement. In September 2023, the Company applied for a regulatory environmental assessment permit and is currently in the process of applying for a drilling permit, concurrently with the drilling contractor selection.
The Company is expecting to commence a drilling program in Q4/23-Q1/24, conditional upon obtaining required government permits, licences, and agreements. The field sampling of brines and brackish water from the surface was done in accordance with generally accepted industry standards. The sampling program included Quality Assurance and Quality Control (QA/QC) standard elements such as including duplicate, CRM, and blank samples.
Formal chain of custody documents were prepared for every sample obtained and submitted for laboratory analysis to AGS Laboratory, Avenida La Cantera 2270, Coquimbo Chile (ISO/IEC NCh17025:2017 Standard and the ISO 900:2015 Standard). In the opinion of the QP, sample preparation, security, and analytical procedures were acceptable and results from the laboratory analyses are considered adequate.
