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Lithium Energy Products Partners With Argentum Silver Corporation
(via TheNewswire) Vancouver, British Columbia / TheNewswire / July 10, 201...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Lithium Energy Products Partners With Argentum Silver Corporation(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / July 10, 2018. LITHIUM ENERGY PRODUCTS INC. (\"Lithium Energy Products\" or \"LEP\" or the \"Company\") (TSX-V: LEP) (FRANKFURT: N8I) is pleased to announce the signing of a minority partnership agreement with Argentum Silver Corporation. \n\n \n \nLEP signed an agreement with Argentum on July 2nd 2018, agreeing the sale of 80% interest in the Vanadium Ridge Property (the \"Property\") to Argentum, consisting of 20 mining claims, covering over 5,200 acres, situated 40 minutes by road from Kamloops, British Columbia. In exchange Argentum has agreed to pay LEP $150,000 and issue LEP 1.25MM Argentum shares. LEP will also retain a carried interest of 20% interest in the project 2 years from the date of the agreement. \n\n \n \nArgentum is majority owned by 'Sprott Mining Incorporated,' and with Sprott's backing Argentum is seeking to become a leading Energy Metals company to supply the increasing demand for battery metals. The Vanadium Ridge acquisition is the first project Argentum and Sprott have identified to help achieve their goal, and LEP has entered into the agreement as it believes Argentum and Sprott are best positioned to exploit the project's potential. \n\n \n \nThe property is a vanadium-rich magnetite deposit, discovered by a Provincial Government airborne magnetic survey, which found an intense magnetic anomaly near Barriere. Follow up surface mapping and ground geophysics resulted in well-defined magnetic anomalies and a vanadium-rich magnetite deposit exposed right at surface. Initial metallurgical testing of the magnetite/vanadium samples by ALS, Australia, produced concentrate averaging 67% iron (Fe203), 93% magnetite (Fe304), and 0.74% vanadium, indicating the potential to produce a concentrate for direct shipping material. These assays also indicate that the magnetite is coarse-grained, soft, and that silica is not bound in magnetite. Crushing produces a good liberation of silica, resulting in a high-grade magnetite concentrate, even in samples with disseminated magnetite1.\n\n \n \nJames Walker, CEO of LEP said, \"We are very pleased to have entered into this arrangement with Argentum. We believe they have the resources, expertise and backing that will take the project to product...