Argentina Lithium focused on lithium’s green energy revolution
The Lithium Triangle, that includes parts of northwestern Argentina, produces about half of the world’s lithium, and hosts approximately 70% of known global lithium reserves. Argentina produces approximately 16% of the world’s lithium, making it the third largest global producer.
Argentina Lithium and Energy Corp. (TSXV: LIT | OTCQB: PNXLF) has two large projects amounting to approximately 50,000 hectares in the heart of the triangle. The Company is focused on acquiring high quality lithium projects, and advancing them towards production in order to meet the growing global demand from the battery sector.
The Incahuasi Salar Project
The Incahuasi Salar has characteristics prospective for lithium-rich brines. The Incahuasi Salar stretches 17 km north-south and extents 2.5 km east to west. The Company has 100% control of the salar and basin that covers over 25,000 hectares with no royalties or option payments. Initial sampling of near-surface brines has returned up to 409 mg/L lithium, and 1.56% potassium, with 52 reconnaissance pit samples taken at a depth of a maximum of 8 meters. The average was 62 mg/L lithium, 4661 mg/L potassium and 9800 mg/L magnesium. Investors should note these are only surface indicators and drilling is required to get accurate results. Geophysical surveying indicates the potential for lithium-rich brines at depth. So far the 4 drill hole results had an average of 109mg/L lithium.
The Antofalla Project
The Antofalla Project includes over 14,000 hectares on the Salar de Antofalla in Salta Province, Argentina. This includes a 100% interest in approximately 9,000 hectares of mining claims in the north end of the Salar de Antofalla and an option agreement to earn a 100% interest in three additional properties totaling over 5,300 hectares situated adjacent to the staked properties. Reported grades from the salar include 350 mg/l lithium and 6,400 mg/l potash. The Salar de Antofalla is approximately 150 km long and 5-7 km wide, and is situated at 3,900 meters elevation. The salar is accessed by Provincial highway 43 and unpaved roads, with the small town of Antofalla approximately 50 km to the south and the city of Salta approximately 500 km away. The geophysical survey has been completed finding high-conductivity targets identified in the upper 100 m and additional targets at depth, with drilling to follow.
Argentina Lithium & Energy Corp. is a member of the Grosso Group, a private management company founded in 1993 that is recognized as a leading pioneer of mineral exploration in South America. The Grosso group operates with the objective of creating investor value through growth of publicly listed companies. The Grosso Group has been following the lithium battery sector and believes this is the time to expand its efforts in lithium resource development in the highly prospective Argentinean portion of the Lithium Triangle.
Lithium is the green revolution. There’s a bright future ahead of us with a reduced reliance on fossil fuel produced energy. Maybe the greatest benefit will be from the massive uptake of electric vehicles. Networks are also getting faster and communication devises are getting smarter. 5G is almost with us now, which will mean new and more mobile phones and tablets. There is one thing you can be certain about, these new markets are going to need lithium batteries, and hence new lithium mines.