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Argentina Lithium & Energy Corp. Provides Update on Arizaro and Incahuasi Salars
VANCOUVER, British Columbia, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Argentina Lithium & Energy Corp. (TSX-V:LIT) (FSE:OAY1) (WKN:A0RK7E) (OTC:PNXLF) “Argentina Lithi
About this update from Argentina Lithium & Energy Corp.
[{"type":"text","content":"VANCOUVER, British Columbia, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Argentina Lithium & Energy Corp. (TSX-V:LIT) (FSE:OAY1) (WKN:A0RK7E) (OTC:PNXLF) “Argentina Lithium” or the “Company”) is pleased to provide an update on exploration programs on its two active lithium exploration projects at the Arizaro and Incahuasi salars located in the prolific Lithium Triangle in Argentina. Due to an increase in activities, a new Project Manager is being hired to manage exploration moving forward. The Company has recently expanded the property holdings at the Arizaro project in Salta province by an additional 7,030 ha. Geophysical and seismic surveying is the next step prior to a Phase II drill program to test for deep brines. At the new wholly-owned Incahuasi project in Catamarca province, the Company plans to move directly into a first drill program, and is now in the process of obtaining permits to do so. The Company recently announced the acquisition of the property which controls the entire salar as well as initial surface sampling and VES geophysical results (See press release dated November 6, 2017). The results included samples of 409 mg/l Lithium at surface. It is expected that the two properties will see up to 10,000 metres of drilling collectively. “We are very encouraged by the results to date at these two large and promising projects,” said Nikolaos Cacos, President and C.E.O. “We are happy to now be stepping up the pace of work and we expect the next six months to provide significant data at Arizaro and Incahuasi.” About the Arizaro Lithium Project The Company has the option to earn a 100% interest in the Arizaro Lithium Brine Project, including 27,530 hectares in the central core of the Arizaro Salar, the largest in Argentina and third largest in the \"Lithium Triangle\". Very little historic exploration work has been done on the Arizaro Salar, however the central area is interpreted to have the geologic conditions to be the most prospective for quality brine resources. Furthermore, the Arizaro Salar benefits from a strategic location for infrastructure, including: a railway that connects to the deep water port of Antofagasta, nearby advanced mining projects that are expected to bring significant development of access routes and power, and the availability of water for development. The Company rece...