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GSC Secures Monti Lithium Project in Chile
GSC Secures Monti Lithium Project in Chile.
About this update from Great Southern Copper Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n20 September 2023\n \nGreat Southern Copper plc\n(\"GSC\" or the \"Company\")\n \n \nGSC Secures \"Monti Lithium Project\" in the Prolific Salar de Atacama Region, Chile\n \n23,500 ha of Concession Area under Application\n \nGreat Southern Copper plc (LSE: GSCU), mineral exploration company focused on the discovery of copper-gold and lithium deposits in Chile, is pleased to announce that it has executed a binding Term Sheet for the Monti Lithium Project located in the Salar de Atacama, Chile's premier lithium producing region.\n \nSummary:\n· Large concession holding under application in the Salar de Atacama district\n· The Salar de Atacama is Chile's premier lithium brine production region\n· Ideal location with excellent infrastructure for power, transport and port\n· Term Sheet allows for 100% GSC ownership of the Monti Lithium Project on grant of concessions and satisfaction of option payments\n· Initial US$10,000 payment to vendors completed with further annual cash and share payments over 3 years for a total consideration value of US$2.26m (£1.8m)\n· Delivers on corporate objective to add third project to GSC's portfolio\n· Continuing copper exploration with imminent drilling to commence at highly prospective Especularita copper/gold targets\n \nMonti Li Project:\nThe Monti Lithium Project, located in the Salar de Atacama district of Chile (Figure 1), comprises 81 concession applications for a total combined concession area of 235 km2 (23,500 ha).\n \nThe Salar de Atacama is a Tier 1 lithium production salar with estimated pre-mine resources greater than 6.0 Mt Li1. Lithium is hosted in subterranean brine solutions which are pumped to the surface, where the lithium is extracted via evaporation processes producing a lithium carbonate (LiCO3) concentrate product.\n \nTerm Sheet:\nGSC have signed a ...