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Argentina Lithium Enters Agreement to Acquire Rincon West and Pocitos Properties in Salta Province
VANCOUVER, BC, Sept. 28, 2021 /CNW/ - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), ("Argentina Lithium" or the "Company") is pleased t
About this update from Argentina Lithium & Energy Corp.
[{"type":"text","content":" VANCOUVER, BC, Sept. 28, 2021 /CNW/ - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), (\"Argentina Lithium\" or the \"Company\") is pleased to announce that it is expanding its portfolio of lithium exploration projects in Argentina's world renown Lithium Triangle. The Company has entered into a letter of intent with a local vendor to acquire a 100% interest in the 2,370 hectare Rincon West and 15,857 hectare Pocitos properties located in the heart of the prolific lithium district in Salta Province. ¨These properties represent prime exploration assets with infrastructure close by and potential for discovery of high-grade lithium brines. Salta is a pro-mining jurisdiction and Argentina Lithium intends to fast-track drilling to evaluate and advance these well-located properties,\" stated Nikolaos Cacos, President and C.E.O. The two properties, separated by 38 kilometres, are located approximately 90 kilometres west of the town of San Antonio de los Cobres, the largest town in Argentina's high plain, and approximately 250 kilometres west of the provincial capital city of Salta. The Rincon West prospect is a single mining concession with an area of 2,370 hectares, located on the west side of the Rincon Salar. It is close to the railway, and just 17 kilometres south of Provincial Route 51, the international road that connects to Chile's coastal ports. The InterAndes power corridor runs within one kilometre of the Rincon Salar. There are two significant lithium resource development projects on the salar, owned by Rincon Ltd. (www.rinconmining.com) and Argosy Minerals (www.argosyminerals.com.au) both of which have executed demonstration-scale production of lithium carbonate. [Argentina Lithium cautions that proximity to a discovery, mineral resource, or mining operation 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.] The Pocitos prospect is a group of eleven contiguous mining concessions totalling 15,857 hectares, located on the western side of the Pocitos Salar. The Provincial Route 17 and the natural gas pipeline-fed industrial park at the settlement of Pocitos are located 17 km to the east. The rail line th...