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Argentina Lithium Acquires Property on Antofalla Salar, Argentina
VANCOUVER, British Columbia, March 08, 2018 (GLOBE NEWSWIRE) -- Argentina Lithium & Energy Corp. (TSX-V:LIT) (FSE:OAY1) (WKN:A0RK7E) (OTC:PNXLF), “Argentina Lit
About this update from Argentina Lithium & Energy Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, March 08, 2018 (GLOBE NEWSWIRE) -- Argentina Lithium & Energy Corp. (TSX-V:LIT) (FSE:OAY1) (WKN:A0RK7E) (OTC:PNXLF), “Argentina Lithium” or the “Company”) is pleased to announce that it is expanding its lithium project portfolio in Argentina’s Lithium Triangle to include over 14,000 hectares on the Salar de Antofalla in Salta Province, Argentina. The new Project includes a combination of 100% owned property applications, and properties with the option to earn 100% through a combination of cash payments and work commitments. “I’m very pleased to be able to report to our shareholders that not only are we acquiring a third lithium brine project, but that it is located on one of the most sought-after salars in Argentina,” said Nikolaos Cacos, President and C.E.O. “We look forward to joining some of the leading lithium companies in exploring this exciting opportunity.” The Salar de Antofalla is approximately 150 kilometres long and 5-7 kilometres wide, and is located at 3,900 metres elevation. The salar is accessed by Provincial highway 43 and unpaved roads, with the small town of Antofalla approximately 50 kilometres to the south and the city of Salta approximately 500 kilometes away. The geological environment at the Salar de Antofalla is similar to other salars in the Puna region where lithium and potash are found. Several other companies are exploring properties on the salar, including global lithium producer Abermarle. Previous operators of the Abermarle property delineated lithium in brines, which Abermarle believes will be certified as the largest lithium resource in Argentina1.Reported grades from the salar include 350 mg/l lithium and 6,400mg/l potash2 . 1 Albermarle September 12, 2016 News Release; http://investors.albemarle.com accessed 3/5/18. 2 https://roskill.com/news/lithium-albemarle-expands-argentina/ accessed 3/5/18 These facts were used to help prioritize the acquisition of these properties. The reader is cautioned that that proximity to a discovery, past-producing mine, or mineral resource, does not indicate that mineralization will occur on the Company’s property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario. Results from other companies are not indicat...