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LiCo Energy Metals Signs a Definitive Option Agreement to Acquire Lithium Exploitation Concession in Salar de Atacama, Chile
(via TheNewswire) Jan 18, 2017 / TheNewswire / Vancouver, British Columbia; - LiCo Ene...
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[{"type":"text","content":"LiCo Energy Metals Signs a Definitive Option Agreement to Acquire Lithium Exploitation Concession in Salar de Atacama, Chile(via TheNewswire)\n \n \nJan 18, 2017 / TheNewswire / Vancouver, British Columbia; - LiCo Energy Metals Inc. (\"the Company\" or \"LiCo\") TSX-V: LIC, OTCQB: WCTXF is pleased to report that further to the Company's press releases dated January 3 2017, and January 6, 2017, LiCo has now entered into a Definitive Mining Option Agreement with Durus Copper Chile SPA of Santiago, Chile where LiCo can earn up to a 60% interest in the Purickuta Lithium Exploitation Concession (the \"Purickuta\" Project) located within Chile's Salar de Atacama, the world's largest and purest active source of lithium. This definitive option agreement will require LiCo to make certain cash payments totaling $USD 8.4 million, issuing 5 million shares and making certain work and development commitments during the term of the option agreement. The transaction is subject to TSX Venture Exchange approval.\n\n \n \nCOO Tim Fernback and advisory board member J. Malcolm Bell have recently visited the Purickuta Project along with Chilean QP, Eduardo Alvarez, to organize a surface evaluation and shallow depth brine sampling program in order to complete the initial 43-101 report that will then be submitted to the TSX Venture for final approval. \n\n\n \n\n\n\n \nFinder's fees will be paid in connection with the transaction.\n\n \n \nAbout the Purickuta Project: https://licoenergymetals.com/purickuta/\n\n \n \nThe Purickuta Project consist of 160 hectares and is one of a few \"exploitation concessions\" granted within the Salar de Atacama, home to approximately 37% of the worlds Lithium production. The property is contained within an existing exploitation concession owned by Sociedad Quimica y Minera (\"SQM\"), and lies approximately 3 km north of the exploitation concession of CORFO (the Chilean Economic Development Agency). About 22 km south-east from the Purickuta Concession, both SQM and Albemarle Corp. have large-scale production facilities within the CORFO concession mentioned above. These two facilities collectively produce over 62,000 tonnes of Lithium Carbonate Equivalent annually and account for 100% of Chile's current lithium output. \n\n \n \nClick here to see maps\n\n\n \n\n\n\n \nQualified Person: The technical content of this news ...