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Gold/Mining/Energy : Lithium

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To: kidl who wrote (1123)11/7/2010 8:23:33 PM
From: MoneyPenny   of 1140
 
My interests lie in lithium still:
I am currently long SQM, based in Chile, with serious lithium production as well as fertilizers.

I am considering this firm. Very active last week on huge volume.

ASX/TSX Announcement
5th November 2010
OROCOBRE COMMENCES DRILLING ON SALINAS GRANDE
LITHIUM - POTASH PROJECT
• Drilling has commenced at Orocobre’s Salinas Grandes Lithium- Potash Project
• Program aims to estimate inferred resource in 1st Quarter calendar 2011
• Potential for greater Potash focus at Salinas Grandes than other Argentine salars
• Orocobre and JV partner Toyota Tsushu are on track to deliver Olaroz DFS in
1st Quarter calendar 2011
Orocobre Limited (ASX: ORE, TSX: ORL) (the Company or Orocobre) has commenced an
initial drilling program at its Salinas Grandes Lithium-Potash Project (Salinas Grandes) in
North West Argentina.
The drilling program will assess the sub-surface geology and hydrogeology with the objective
of estimating an inferred resource at Salinas Grandes in 1Q CY2011.
Previous pit sampling at Salinas Grandes shows very high Lithium and Potassium grades with
the nucleus of the salar covering an area of approximately 60 km2, with lithium concentrations
over 2000 mg/l, reaching a maximum of 3117 mg/l. In addition potassium values of >20,000
mg /l occur over an area of approximately 40 km2, and boron values >500 mg/l occur over
more than 50 km2.
The drilling program comprises 1,200 metres of drilling and all holes will be followed up with
down hole geophysical surveys. Samples will be taken for hydro-geological test work.
Previous surface sampling data also highlights the potential for Salinas Grandes to have a
greater Potash focus than other Argentine salars due to very low sulphate levels and unusually
high potassium grades.
The project is located in the Salta and Jujuy Provinces in north-west Argentina less than 70
kilometres from Orocobre’s flagship Olaroz Lithium Project (Olaroz) which provides the
potential for operational synergies.
Orocobre is currently working with joint venture partner Toyota Tsushu towards delivering a
Definitive Feasibility Study (DFS) for its flagship Olaroz Project in 1Q CY2011. Olaroz is
widely recognized as the world’s next large scale, low cost lithium-potash brine resource.
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