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TNR Gold Announces Advancement of Mariana Lithium Project to Construction by Ganfeng Lithium
Vancouver, British Columbia--(Newsfile Corp. - September 27, 2021) - TNR Gold Corp. (TSXV: ...
About this update from Tnr Gold Corp.
[{"type":"text","content":"TNR Gold Announces Advancement of Mariana Lithium Project to Construction by Ganfeng LithiumVancouver, British Columbia--(Newsfile Corp. - September 27, 2021) - TNR Gold Corp. (TSXV: TNR) (\"TNR\", \"TNR Gold\" or the \"Company\") is pleased to announce that, further to the Company's news release dated July 14, 2021, International Lithium Corp. (\"ILC\") announced the purchase by Ganfeng Lithium of ILC's remaining 8.58% stake in Litio Minera Argentina S.A., the owner of the Mariana Lithium Project in Salta Province, Argentina. TNR Gold holds a 1.8% net smelter returns (\"NSR\") royalty on the Mariana Lithium Project.The news release issued on September 21, 2021 by ILC stated:\"The board of International Lithium Corp. (the \"Company\" or \"ILC\") is pleased to announce that it has agreed to the sale of its remaining 8.58% stake in Litio Miñera Argentina S.A. \"LMA\", the company owning the Mariana lithium salar project in Argentina, and also to sell its other rights in the project, including the right to acquire a further 10% in the Mariana project. The legal entity acquiring is Ganfeng Lithium Netherlands Co., B.V., a subsidiary of the Company's partner Ganfeng Lithium Co. Ltd.\"The news release issued by ILC on July 8, 2021 stated:\"The Company has now received a 300-page report (the \"Report\") from strategic partner Ganfeng Lithium Co. Ltd., (\"GFL\") that contains an updated mineral resource estimate for the Mariana lithium brine project (the \"Project\") located in Salta, Argentina. This Report was not prepared for public NI43-101 reporting standards, and therefore the Company is unable to disclose it fully. However, in the interests of investor transparency and to avoid selective disclosure, we are disclosing the following details from the Report which have already been disclosed in a news release issued by Ganfeng Lithium on July 6, 2021, and/or in a news release by the Salta Government in Argentina on June 16, 2021.Highlights from the Report which are already in the public domain are as follows:The resource estimate contained in the Report, detailed in the table below, includes:6,854,000 tonnes of lithium carbonate (\"Li2CO3\") equivalent (LCE) in the Measured and Indicated Resource categories, an increase of 55% over the 2019 estimate of 4,410,000 tonnes of Measured and Indicated Resource (Company news release, Feb...