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Lithium One EXPANDS SAL DE VIDA LITHIUM BRINE PROJECT TO OVER 250 SQUARE KILOMETRES
Lithium One EXPANDS SAL DE VIDA LITHIUM BRINE PROJECT TO OVER 250 SQUARE KILOMETRES
About this update from American Lithium Corp.
[{"type":"text","content":"\nLithium One EXPANDS SAL DE VIDA LITHIUM BRINE PROJECT TO OVER 250 SQUARE KILOMETRES\n\n\n Sep. 18, 2009 (TheNewswire.ca) -- Lithium One Inc (the \"Company\")(TSX-V: LI), is pleased to announce that it has signed a Purchase Agreement to acquire a 100% interest in an additional 6,500 hectares in the southeast quadrant of the Salar del Hombre Muerto, Argentina. The new property adjoins the two previously acquired land packages, and increases the area of the Company's Sal de Vida lithium brine project by more than 30% to over 250 square kilometres.The Sal de Vida project now encompasses more than 40% of the Salar del Hombre Muerto. The Salar del Hombre Muerto is one of a limited number of known salars in the world which have brines suitable in composition and extent for commercial lithium production. The western portion of the salar is the site of Argentina's only commercial scale lithium mining operation, Fénix, which is operated by FMC subsidiary Minera del Altiplano. Fénix was permitted and put into production in the late 1990's, and in 2008 produced nearly 14% of the total world production of lithium metal. Attributes of the brines in the Hombre Muerto salar include high lithium content, high potash content, low magnesium to lithium ratio, and brine production to greater depths than many other salars [Sources: Economics of Lithium 11th Edition, Roskill Information Services (2009); FMC Website].The Company's President and CEO, Patrick Highsmith, commented on the acquisition, \"We have assembled a strong land package at the Sal de Vida Project, now spanning more than 25,000 hectares. Having established in our due diligence sampling the presence of high lithium and potash in the surface brine over much of that area, we are proceeding with a systematic evaluation of the extent, concentration, and value of the brine. We are also hosting a number of experts on the project in late September to assist with various aspects of the program.\"Lithium One has initiated an exploration program on the Sal de Vida project, with the intent to advance the project to a feasibility decision by the end of 2010.Property AgreementThe Company is acquiring the properties from a private individual (the \"Vendor\") through a Purchase Agreement. Lithium One (OOTC:LITHF) (TSXV:LI) will acquire 100% ownership of the property with no retained royal...