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Silver Valley Metals Announces Update on Its MexiCan Lithium-Potassium Project, Zacatecas and San Luis Potosi, Mexico
Vancouver, British Columbia--(Newsfile Corp. - May 10, 2023) - Silver Valley Metals Corp. (TSXV: ...
About this update from Silver Valley Metals Corp
[{"type":"text","content":"Silver Valley Metals Announces Update on Its MexiCan Lithium-Potassium Project, Zacatecas and San Luis Potosi, MexicoVancouver, British Columbia--(Newsfile Corp. - May 10, 2023) - Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) (\"Silver Valley\" or the \"Company\"), a brownfield exploration Company with two potential high impact projects that comprise silver-zinc-lead located in north Idaho, USA and lithium - potassium (sulphate of potash) located in Zacatecas and San Luis Potosi, Mexico respectively, is pleased to provide an update in regards to its MexiCan Lithium-Potassium (sulphate of potash) Project (\"the Mexico-Canada Project\" or \"MexiCan Project\"). Silver Valley has been in discussions with LitioMX, (the national lithium company of Mexico), over the past months and has recently had an in-person meeting in Mexico City. These discussions pertain to the possibility of forming a partnership to explore and ultimately produce lithium at the MexiCan Lithium-Potassium Project located in Zacatecas and San Luis Potosi. The negotiation is focused solely on the lithium component of the multi-commodity deposit(s). This represents an inferred resource of 243,000 tonnes of lithium carbonate equivalent (LCE) (1) defined to date at surface to an average depth of only 5 metres. The project is the second most advanced lithium project in Mexico and remains open to significant expansion through further exploration work. The potassium sulphate (sulphate of potash) component of the deposit comprising 12.3 million tonnes (1) defined to date, that also has significant upside to expand, is not part of the current negotiations between LitioMX and Silver Valley Metals. See NI-43101: https://silvervalleymetals.com/wp-content/uploads/2022/05/kmax-ni43-101.pdfMr. Pablo Taddei, CEO of LitioMX stated recently to Bloomberg Linea(2), \"Negotiations are currently underway with companies that already have concessions in the country, with the aim of forming a common front.\" (2) Mr. Taddei continued, \"According to its creation decree, LitioMX will manage and maintain a controlling interest in the activities necessary for the production, transformation and distribution of lithium-derived products, for which it may associate with other public and private companies and institutions.\"Mr. Brandon Rook, CEO of Silver Valley Metals says, \"The relation...