Argentina Lithium Acquires Entire Salar In Catamarca Province

 

VANCOUVER, BC - Argentina Lithium & Energy Corp. has acquired a 100% interest in, or has under application, mineral rights totaling 23,700 hectares covering the entire Incahuasi Salar and basin in Catamarca Province, Argentina.  The salar is situated within the “Lithium Triangle” of Argentina and Chile, and has characteristics prospective for lithium-rich brines.   Initial sampling of near-surface brines has returned up to 409mg/L lithium, and geophysical surveying indicates the potential for lithium-rich brines at depth.

“This acquisition provides the Company and our shareholders full control of an exciting new project that covers the entire salar basin,” said Nikolaos Cacos, President and C.E.O. “Our technical advisors are very optimistic about the potential and we are moving forward with a detailed program to identify and quantify subsurface brines.”

The Salar de Incahuasi is located in the northwest of Catamarca Province at approximately 3260 meters above sea level, in the southern half of the “Lithium Triangle”. Access to the Incahuasi salar is by gravel road, approximately 34 kilometers southwest from the town of Antofagasta de la Sierra.  The salar is approximately 17 kilometers long north to south, and 2.5 kilometers wide, and divided into a north and south section.  The geological environment at Incahausi is similar to other salars in the Puna region where lithium and potash are found. The northern portion is flatter, partially covered with surface water, with crusts of halite and ulexite.  The central part of the salar has a slightly lower altitude, causing surficial waters to converge in this area. The southern portion of the salar is covered by terrigenous sediments including sand, clays, halite and sodium-sulphates.  Additional information on the geology of the salar will be available on the Company website shortly.

The project currently consists of 13,711 hectares in seven properties covering 90% of the existing salar surface.   These properties are wholly-owned by the Argentine subsidiary of the Company, with no royalties.  Applications have been made for approximately 10,000 hectares of additional property, which will complete the coverage of the salar to the south and extend the Companies holdings to cover the entire basin to the north.