Lithium Australia Advises Alix Resources Update on Electra Joint Venture

Lithium Australia NL (ASX:LIT) advises that Alix Resources Corp (TSXV:AIX) recently provided an update to its shareholders in regard to assay results of the recent round of sampling at the Electra Project in Sonora, Mexico, where values as high as 246 parts per million (ppm) lithium (Li) confirmed a target sedimentary assemblage with the potential of hosting economic lithium-bearing, clay-rich horizons. The Electra lithium project is contiguous to Baconora/REM’s Buenavista Lithium project.
As quoted in the press release:

HIGHLIGHTS

• Alix Resources (TSVX: AIX) identifies lithium-bearing, clay-rich sedimentary
  assemblage over a 1.1km distance at the Electra Project Mexico
• LIT recently advised it had earned a 25% interest in the Electra Project
• Results comparable with adjacent Bacanora/REM Buenavista concession

Previous work carried out last December on the Electra lithium project led to the discovery of a lithium-bearing, clay-rich showing on the company’s northern Tecolote concession adjoining the Bacanora Minerals Ltd. (BCN-TSX:V) and Rare Earths Minerals PLC (REM-LON))’s Buenavista concessions (PR 2016-01-06). Reverse circulation drilling by Bacanora/REM’s on the Buenavista concession has discovered a clay-rich layers (the Buenavista Li deposit) in a sedimentary sequence over an area of 6 by 1.25 km (BCN PR, 2014-11-03).
Alix geologists, along with a contracted geologist with previous working experience on Bacanora/REM’s Buenavista concession, revisited the showing discovered in December on the Tecolote concession, which returned a peak value of 211.0 ppm Li. Geological mapping and prospecting identified a distinct, sedimentary package containing clay-rich layers. This target area has been designated the “Central Basin”.
In total, 42 samples were collected from claystones, sandstones and siltstones exposed in the target sedimentary sequence, yielding and average Li value of 167 ppm and a peak concentration of 272 ppm, which is considered very anomalous.
The sampling program identified two target areas located in the Central Basin and underlain by the target sedimentary sequence. The first target, the eastern area, is approximately 1,100 m long by 250 to 400 m wide. The second target area is located east of the Barisuqe river and 700 m SW of the first target and measures roughly 400 by 150 m. The zone in between the targets has also been mapped and is covered by extensive, thin alluvial sediments that may be underlain by the same prospective sedimentary sequence.
Both target areas in the Central Basin are likely to be expanded given the relatively flat-lying nature of the sedimentary beds and extensive, thin alluvial cover. Additional sampling and geological mapping has been completed and assays are pending.
On Bacanora/REM’s Buenavista concession, the lithium-bearing clay-rich layers were little exposed and required drilling to define and understand the sedimentary stratigraphy.

Alix Resources President, Mike Weeks, stated:

These recent anomalous and enriched lithium values from clay-rich sedimentary sequences on our Tecolote concession are encouraging and bear similarities to Bacanora/REM’s early stage findings at Buenavista. Once we receive the results from the next round of sampling we will likely proceed with a drilling program designed to further explore the lithium potential of this property. We are obviously in the right location and the mineralization to date found on the property is very promising to our exploration team. Our drill campaign will likely include a series of shallow drill holes in key geological targets such as the sedimentary assemblage and also in some alluvium-covered areas. The objective is to discover lithium-rich clay layers similar to that of the Bacanora/REM Buenavista deposit.

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