American Salars Lithium (CSE:USLI,OTC:USLIF, FWB:Z3P) is an exploration-stage company dedicated to acquiring, developing, and monetizing lithium brine projects across the Americas. With a clear focus on low-cost entry and scalable resource expansion, the company is executing a disciplined strategy to build a high-quality portfolio in strategic jurisdictions.
Central to American Salars’ vision is the conviction that lithium demand—driven by the accelerating adoption of electric vehicles and the rise of stationary energy storage solutions—is poised for significant long-term growth. The company is strategically positioning itself to capitalize on this trend, targeting assets with strong appeal to major producers and institutional investors.
Salar de PocitosSalar de Pocitos is the flagship asset of American Salars Lithium, situated in Argentina’s lithium-rich Puna region within Salta Province. The Pocitos 1 block spans 800 hectares and has shown strong lithium brine potential through historical drilling and testing. While a 760,000-ton inferred lithium carbonate equivalent (LCE) resource was previously reported for the area—including Pocitos 2, which is not owned by American Salars—all contributing drill holes for that estimate were located within Pocitos 1, where the company holds 100 percent ownership.
Drilling at Pocitos 1 has encountered aquifers at depths between 365 and 407 meters, with lithium concentrations reaching up to 169 parts per million (ppm). Sustained brine flow rates were recorded for over five hours, and porosity tests on core samples returned strong results, ranging from 6 to 14 percent, further underscoring the project’s potential.
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American Salars Lithium Inc. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: ASALF, FWB: Z3P, WKN: A3E2NY ) announces the addition of Dr. Mark King PhD, PGeo, FGC, a world-renowned lithium brine expert, as a Technical Advisor and Qualified Person.
Dr. King is a hydrogeologist with 30+ years of international experience in groundwater modeling and geochemistry. For the past 15 years, he has specialized in exploration and evaluation of lithium brine projects. His strong chemistry and numerical modeling background has proven to be an excellent foundation for brine exploration and quantitative evaluation. Consequently, his resource and reserve estimation experience on major brine projects is now arguably the most extensive of any geologist, hydrogeologist, or engineer in the world.
Some notable past involvements include serving as a resource and/or reserve estimation Qualified Person for the following:
In addition, Dr. King and his team have conducted detailed due diligence reviews of 20+ advanced brine projects and reconnaissance reviews (and ranking) of 100+ greenfield to early-stage projects, in South America and the southern US. His technical team at GWI have advanced expertise in geological modelling, GIS, data management and 3D visualization. They will provide exploration and resource consulting services to American Salars from time to time.
R. Nick Horsley, CEO & Director States , "American Salars is yet again adding depth to its technical team. We are fortunate to welcome Dr. King and his team at GWI to American Salars and look forward to working together in our search for significant lithium salar projects. Mark is a globally recognized authority whose work has taken him to lithium brine projects throughout North and South America, and beyond."
About American Salars Lithium Inc.
About American Salars Lithium Inc. American Salars Lithium Inc. is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market.
All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter and Instagram.
On Behalf of the Board of Directors,
"R. Nick Horsley "
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.880.2189
E-Mail: info@americansalars.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
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VANCOUVER, BC TheNewswire - MAY 7 th 2025 American Salars Lithium Inc. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY ) announces that it has commenced a Phase 2 sampling program on its 100% owned, highly prospective 18,083 Hectares (180 sq km) Hardrock LCT ("Lithium-Cesium-Tantalum") Pegmatite Project including Rare Earth Elements ("REEs") and Critical Minerals (the "Jaguaribe Project ").
The Jaguaribe Project is located in the Jaguaribe/Solonópole region in the State of Ceará, in Northern Brazil and hosts multiple extensive Lithium and REE bearing pegmatite dykes that have returned initial Phase 1 sample discoveries of up to 3.72% Li 2 O, 2.15% Li 2 O and 1.58% Li 2 O as well as 554.5 ppm of Cesium,
135 ppm of Tantalum, 177 ppm of Niobium. One sample showed high values for Rubidium (>10,000ppm); Tin (675 ppm) and Zinc (387ppm).
American Salars CEO & Director R. Nick Horsley states, " We are thrilled to launch the second phase of exploration at our Jaguaribe Project, building on the promising lithium and rare earth element (REE) discoveries from phase one. Brazil is a global hub for hard rock lithium production, and our Jaguaribe Project, located in a well-known pegmatite district, has already yielded high-grade lithium samples and significant REE values. This next phase will focus on identifying and sampling additional pegmatites to further delineate the scale and quality of this critical mineral-rich region."
The initial phase 1 exploration program revealed multiple long and wide pegmatite dykes that measure up to 30 meters in width and up to 300 meters in length that are largely unexplored. American Salars has secured field crews, a Brazil focussed senior geologist, and lithium specialist QP to oversee a more extensive Phase 2 work program to map new pegmatite outcrops as well as sampling new and known areas of mineralization. The Company has secured sampling and exploration crews and is working with local Brazil based geological consultants to help plan a follow up drilling program to test priority targets.
About the Jaguaribe Property
The Jaguaribe Property covers historic artisanal mining sites previously mined for lithium, coltan (tantalum and niobium) and tin.
Initial sampling of the Jaguaribe Pegmatites returned Spodumene bearing pegmatite samples that graded up to 3.72% Li2O as well as Rare Earth Elements.
Phase 2 sampling will test multiple additional LCT Pegmatite targets.
Ideal project location - Historical Pegmatite Province Brazil.
4-hour drive on paved roads to port and international airport (Fortaleza).
The topography, land use and vegetation at Jaguaribe Property is well suited for exploration activities.
Arid, sparsely populated farmland, no rain forest.
Northern Brazil provides shipping routes and deep-water ports to North American and European battery chemical markets.
Click Image To View Full Size
Figure 1. Geological Map of the Solonópole/Jaguaribe Region, with location of the Jaguaribe claim blocks shown in YELLOW color .
Multi elements ICP analysis (55 elements) of 13 pegmatites sampled across the Jaguaribe Project, returned: Lithium, Rubidium, Tantalum and Niobium. Of the 13 samples, one (VM-EJ-R-01) is mineralized with Lithium at (3.72% Li2O), a normal occurrence, because it was the first geological reconnaissance work carried out on the Project. The presence of Li bearing Lepidolite and Spodumene minerals were observed in the pegmatites during the initial fieldwork.
Pegmatite VM-EJ-01 is an LCT (Lithium-Cesium-Tantalum) pegmatite, in addition to samples of 3.72 Li2O, anomalous values of 554.5 ppm of Cesium and 135 ppm of Tantalum were recorded, accompanied by 177 ppm of Niobium and high values for Rubidium (>10,000ppm); Tin (675 ppm) and Zinc (387ppm). Initial fieldwork also detected two additional pegmatites with 2.15% and 1.58% Li2O, respectively, which led to the exploration and acquisition of the 10 claim blocks that make up the Jaguribe Property.
Click Image To View Full Size
Figure 2. LCT pegmatite Outcrops and Surface Samples from vein in a North -Northeast direction and embedded in gneiss.
Figure 3. Location of the Pegmatite Districts of Ceará, Brazil.
Geochemical Characteristics of Pegmatites, Jaguaribe Project, Ceará, Brazil
A multi-element analyse was conducted at the SGS laboratory for 58 elements including REE, from 12 samples from the Jaguaribe Project. These samples were analyzed by the ICM90A method: determination with fusion in sodium peroxide-ICP OES/ICP MS.
Geochemistry of the Pegmatites samples from the Jaguaribe Project area, was compared with the standard sample or standard analysis provided by the SGS laboratory, with the common elements and their contents in an LCT-type Pegmatite (Lithium, Cesium and Tantalum).
The pegmatite from the VM-R-01 Pegmatite sample, which contained Lepidolite and a content of 1.54% Li 2 O, shows a strong geochemical correlation with the standard sample, in terms of the contents of Li, Cs, and Ta, the latter being much higher (135 ppm Ta) than the Ta content of the SGS standard sample (18 ppm Ta). The VM-R-1 sample also shows a correlation with the SGS standard, in terms of Rb, Nb, Sn and P. Other pegmatite samples from the Jaguaribe Project, namely VM-R-6 and VM-R-7, are iron enriched and present less marked correlations, in relation to the contents of the standard sample only in the elements Li, Rb and Ba, although they show anomalous geochemical values of Cs.
The results of the VM-R-8 and VM-R-10 analyses show a good correlation with the results of the SGS standard sample, regarding the contents of Rb, Ba, Cs, Ta, Nb and P, but the Li levels fell, respectively, to 110 ppm and less than 10 ppm. This sharp drop in the Li levels of these samples is mainly due to the leaching of Li minerals by surface waters, notably Spodumene, a phenomenon observed in most of the pegmatites in the region, whose Li levels increase substantially in the subsurface in mining pits, in the companies' research excavations and mainly in drill holes.
QUALIFIED PERSON
The technical content regarding the Jaguaribe Project, in this release has been reviewed and approved by Mitchell E. Lavery, P. Geo, who is an Independent Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
ABOUT AMERICAN SALARS
American Salars Lithium is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market.
All Stakeholders are encouraged to follow the Company on its social media profiles on , , TikTok , and Instagram .
On Behalf of the Board of Directors,
" R. Nick Horsley "
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.740.7492
E-Mail: info@americansalars.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
Copyright (c) 2025 TheNewswire - All rights reserved.
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VANCOUVER, BC MAY 1 st 2025 TheNewswire - American Salars Lithium Inc. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY ) announces it has signed a Letter of Intent ("LOI") with an arms length Vendor to acquire a 100% interest in the Cauchari Minas Ines 01 Lithium Salar Project ("Cauchari" or "Project"), located o n the south end of the Cauchari Salt Lake, Department Los Andes in the Province of Salta, Argentina.
The Cauchari Ines 01 claims cover an area of approximately 1,235 hectares, and contain concentrations of lithium, sampled up to 383 ppm Li taken from a depth of 30cm below the salt crust. Access to the Project is through the city of Salta, via Road 51 passing the town of San Antonio de Los Cobres, and continuing approximately 80km to the nearby Cauchari Salt Lake. The Project area is accessed entering the Salt Lake through existing mining tracks and roads and located 13km from the Rincon salar owned by Rio Tinto.
Cauchari Lithium Brine Project Overview
American Salars CEO & Director R. Nick Horsley states, "The potential of this section of the Salar de Cauchari is immense. Cauchari is a proven producing Salar operated by Exar – Ganfeng & Lithium Argentina that produces battery grade lithium carbonate. The Company will look to continue to increase its footprint on the Cauchari and Pocitos Lithium projects."
Cauchari Mining Potential
Data from reconnaissance exploration programs suggests that the Cauchari Salt Lake is underlain by a structurally controlled sedimentary basin that forms an aquifer of over 250 square kilometers, and asymmetric, with maximum depths from 100 - 500 m along the eastern margins. No effective porosity determinations have yet been made on the aquifer, but by analogy with similar aquifers may be in the region of 4-20%. Structural geology survey suggests a shear fault zone through the concession oriented north south that could be an aquifer conduit.
To the North of the Company's Cauchari Ines 01 claims, two important and advanced projects are actively being developed, both on Cauchari and Olaroz Salt Lakes, with successful results from an exploration and pilot plant perspectives. The surface of the Cauchari Salar is a light brown lime-earthy layer, there are typical millimetre thick salt efflorescence which include chloride and sodium sulfate and to a lesser extent calcium carbonate and calcium sulfate (gypsum).
The Project is located on a carbonate platform generated by the late (geyser) volcanic activity, whose water loaded with minerals decanted in this basin. The geyser activity provided the majority of the chemical elements which caused the mineralization in these salt lakes. Some of these minerals are borates, sulfates, carbonates and brines rich in lithium, potassium, boron and rare earths. Significant concentrations of lithium were determined in brines from the Cauchari Salt Lake area, at the northern end of the Company's claim boundary.
Cauchari Geology
Within the Project area, outcrops of Ordovician sediments occur and above these sediments and in a discordant way there are tertiary sedimentary outcrops of Group Pastos Grandes and equivalents and tertiary vulcanites from the eruptive complex El Quevar. The quaternary can be differentiated in evaporitic sediments from Cauchari Salt Lake, clastic sediments forming alluvial cones and travertine limestones with hydrothermal origin.
Geoforms in Endorreic Basins
The Project area is part of the Cauchari Salt Lake basin. The total area of this basin is approximately 2,550 square kilometres. The Cauchari Salt Lake is extended and narrow-shaped, sub-meridian oriented spanning 40 km long. Its irregular borders are characteristic due to the influence of numerous alluvial cones which cause marked narrowing. Cauchari is a typical earthy Salt Lake, with a small participation of halite crystalline mass with a layer of greenish-brown lime-earth. Over the surface there are efflorescences and halite crusts, also gypsum.
Historically, this Salt Lake produced the biggest amount of borax minerals, especially ulexite and tincal in a smaller amount. The mineralization of ulexite is concentrated along the occidental side of the Salt Lake. The origin of this mineralization is directly related to boratiferous spillage, from the fracture located at the bottom of the Cauchari sierra. Besides that it is important to take into account that the river Olacapato, whose origins are located in the thermal waters of Tocomar and Antuco, contributes with important saline contents; thus, a brine concentrated in borates, with high amounts of lithium (900 ppm), one of the highest in the Puna, is added to the mineral resource of the salt lake.
Water bodies in the area of reconnaissance
From the hydrographic point of view, the area belongs to the endorreic basin of the Salt Lake of Cauchari. Due to its length and volume, the most important collector is the river Tocomar, originated by the numerous thermal springs (thermal spring Tocomar and Antuco). This river has caused a vast alluvial plain that is in contact with the side of the Salt Lake through a wide unfunctional cone. Only during the rainy season, the river pours down in the Salt Lake itself, and at the same time a group of springs appear in the nearby areas.
Nearest town
The nearest settlement is Olacapato at 22km from the area under study. It has 169 inhabitants, a first-aid post, a small police station, primary school, hostel, 24-hour electricity and semipublic telephone service.
The town of San Antonio de Los Cobres is the most important town and head of the Department Los Andes. It has 4,763 inhabitants according to the 2010 Census. It has a hospital, primary
Additionally, the Company has announced a settlement agreement with Ekeko SA in regards to the lien placed on the Pocitos1 project from a shortfall payment by Recharge Resources SA. The Company has agreed to $200,000 USD in cash payments for a full release of all liabilities and claims against Recharge Resources SA the holder of the Pocitos 1 tenement. A payment of $130,000 USD is due May 15th, 2025, with a second payment of $70,000 USD due September 15th, 2025.
American Salars Lithium – Argentina Lithium Salar Portfolio of Projects
Salar De Pocitos Project
The Salar Pocitos Project is located approximately 100 kilometers west from San Antonio de Los Cobres which is the largest city at the top of the puna and approximately 250 kilometers west of the Provincial Capital, Salta. The Pocitos Project benefits from some of the best infrastructure on the puna including Provincial Highway Route 17 and the Pocitos industrial Park settlement that has a natural gas pipeline and near the railway and highway that runs through the salar to the Port of Antofagasta on the Chilean Pacific Coast.
The Company's initial 800 hectare Pocitos 1 claim has an NI 43-101 Mineral Resource Estimate ("MRE") prepared by WSP Australia. The MRE inferred estimate was 760,000 tonnes of Lithium Carbonate Equivalent ("LCE") based on an in-situ lithium metal equivalent of 143,000 tonnes on the combined Pocitos 1 (800 Ha) and neighbouring Pocitos 2 block (532 Ha). On a pro-rata basis Pocitos 1 has 456,000 tonnes of LCE insitu. (American Salars does not currently own the neighboring 532 Hectare Pocitos 2 block - See Press Release Dated June 17, 2024). The NI 43-101 MRE was estimated on an inferred basis using a block model with 6% and 14% porosity respectively for the clay and sand lithologies. Completing borehole magnetic resonance surveys will provide continuous and higher accuracy of porosity possibly leading to an upgrade of the resource.
American Salars signed a letter of Intent (see Press Release Dated March 3, 2025) to acquire an additional 13,080 hectares on the Pocitos Salar, which has been the subject of numerous exploration campaigns including drilling, surface sampling and geophysics. The next phase of work on this World Class Project's development will be to compile data from all the combined Pocitos tenements to assess the required work in order to tie the existing drill holes together and update the Company's NI 43-101 MRE. Scoping and feasibility studies will follow the data compilation and move the project forward towards the Company's goal of seeing the Pocitos Project through to commercial production.
Qualified Person
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release regarding Argentina properties, and has approved the disclosure herein. Mr Thomas is a shareholder of American Salars lithium shares.
About American Salars Lithium Inc.
American Salars Lithium is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market. The Company's has a diversified portfolio of Lithium Brine and Hardrock Projects in North and South America.
All Stakeholders are encouraged to follow the Company on its social media profiles on , , TikTok , and Instagram .
On Behalf of the Board of Directors,
" R. Nick Horsley "
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604-740-7492
E-Mail: info@americansalars.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
Copyright (c) 2025 TheNewswire - All rights reserved.
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VANCOUVER, BC TheNewswire - MARCH 12 th 2025 American Salars Lithium Inc. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY ) states its commitment to strengthening the United States lithium supply, a critical mineral essential for electric vehicles, energy storage, and advanced manufacturing. As demand for domestic lithium sources grows, securing reliable resources is vital for the nation's clean energy and technology future. With the potential for new tariffs on lithium imports under the Trump administration, American Salars has positioned itself to secure a stable, tariff-free lithium supply through its Black Rock South Lithium Project in Nevada.
As trade uncertainties grow, American Salars Nevada property serves as a critical safeguard against rising costs and potential supply chain disruptions. By having a US based lithium asset, the company holds a strong position in the domestic lithium market, providing potential future supply opportunities while reducing exposure to geopolitical risks and import restrictions. This strategic positioning not only strengthens American Salars' role in the US lithium market but also supports North America's push for energy independence in the face of shifting trade policies.
Click Image To View Full Size
Figure 1. The Blackrock South lithium brine project - Nevada
Beyond its Nevada project, American Salars has acquired a diversified portfolio of lithium assets in Canada, Brazil, and Argentina, positioning the company for potential resource development and enhanced market flexibility amid shifting global trade policies.
American Salars is strengthening its footprint in Argentina's Lithium Triangle, a globally recognized region containing some of the highest-grade lithium brine deposits. This strategic positioning enhances the Company's potential for future exploration and development in one of the world's most significant lithium-producing areas. The Company owns the 800-hectare Pocitos 1 lithium project and has a Letter Of Intent to acquire 13,080 hectares of neighboring land, making it the second-largest property holder on the Salar de Pocitos.
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Figure 2. Salar de Pocitos and surrounding Salars - Argentina
The Company is expanding its presence in Quebec, a highly promising region for new lithium discoveries. Its Xenia West & East projects consist of 92 mining claims spanning 5,382 hectares (54 sq km), located 30 km southeast of Val-d'Or with direct access via Highway 117. Additionally, Lac Simard Nord & South border Sayona Mining's Tansim Project, which includes the Viau-Dallaire and Viau Showings, estimated to contain 5–25 million tons of Li₂O at 1.2–1.3% and the recently announced Leduc East Lithium Project with 6,100 hectares of claims covering part of an extensive belt of granitic and gneissic rocks that host pegmatitic mineralogy, with over 35 mapped pegmatites and covering 15 historical pegmatite-borne felspar showings, 13 of which are former Feldspar and Mica mines operated from the early 1900 to the 1940's.
Through its Jaguaribe, Brazil Lithium & REE project, American Salars is strategically positioned within the BRICS economic bloc, where lithium-rich regions are becoming essential for battery production and clean energy technologies. The Jaguaribe Project, located in the Jaguaribe/Solonópole region in Ceará, Northern Brazil, hosts multiple extensive lithium and REE-bearing pegmatite dykes. Initial sampling has returned significant lithium oxide discoveries, including 3.72% Li₂O, 2.15% Li₂O, and 1.58% Li₂O, reinforcing the project's high potential, as well as REE samples of 554.5 parts per million cesium, 135 parts per million tantalum and 177 parts per million niobium. One sample showed high values for rubidium (greater than 10,000 parts per million); tin (675 parts per million) and zinc (387 parts per million).
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Figure 3. Jaguaribe Pegmatite Vein with mineralized outcrop samples.
By securing assets in multiple strategic locations , American Salars mitigates geopolitical risks, ensures and maintains a strong competitive position in the rapidly growing clean energy market.
American Salars CEO & Director R. Nick Horsley states, "The lithium market is evolving rapidly, and shifting trade policies could create new challenges. By securing strategic lithium assets in key regions of North and South America, we have hedged ourselves geopolitically to meet the growing demand driven by electric vehicles and renewable energy storage. This strategy reduceds our exposure to uncertain supply chains and trade war implications. Amid the tariff war, talk of Argentina and the United States entering a trade pact bodes well for our Salar de Pocitos flagship project, positioning it as a critical asset in a stabilizing Western supply chain, especially as US policies increasingly prioritize domestic and allied sourcing of critical minerals."
The global lithium market is at a pivotal moment, driven by surging demand for electric vehicles (EVs), battery storage, and clean energy technologies. However, potential tariff policies under a Trump administration could disrupt supply chains and increase costs for U.S. manufacturers. If tariffs are imposed on lithium imports from key suppliers like China, Argentina, and Chile, the cost of raw materials could rise, impacting battery production and the broader EV market. As the U.S. seeks to reduce reliance on foreign lithium, domestic projects like American Salars Lithium Inc.'s Black Rock South in Nevada are becoming increasingly valuable, offering a secure, tariff-free alternative that ensures supply chain stability and cost control.
As trade uncertainties grow, American Salars Lithium Inc.'s Nevada property serves as a critical safeguard against rising costs and potential supply chain disruptions. By owning and developing a U.S.-based lithium source, the company guarantees a reliable, domestic supply of lithium, reducing exposure to geopolitical risks and import restrictions. This strategic positioning not only strengthens American Salars Lithium Inc.'s role in the U.S. lithium market but also supports North America's push for energy independence in the face of shifting trade policies.
Beyond Nevada, American Salars Lithium Inc. is well-positioned in the global lithium market, with a diversified portfolio of high-potential properties in Canada, Brazil, Argentina, and the U.S. This geographically balanced strategy provides access to some of the world's most lithium-rich regions, ensuring resource security and market flexibility. Canada offers a stable, mining-friendly jurisdiction near key North American battery production hubs, while Brazil and Argentina—both part of the "Lithium Triangle"—boast some of the world's highest-grade lithium brine deposits. By securing assets in multiple regions, American Salars Lithium Inc. mitigates geopolitical risks, ensures a steady lithium supply, and maintains a competitive edge in a rapidly expanding market—regardless of how global trade policies evolve.
About American Salars Lithium Inc.
American Salars Lithium is a public exploration company focused on developing lithium resource projects. The Company's ultimate objective is the production of battery grade lithium carbonate to meet the growing demands of the battery industry. The Company's has a diversified portfolio of Lithium Brine and Hardrock projects in North and South America.
All Stakeholders are encouraged to follow the Company on its social media profiles on , , TikTok , and Instagram .
On Behalf of the Board of Directors,
" R. Nick Horsley "
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.740.7492
E-Mail: info@americansalars.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
Copyright (c) 2025 TheNewswire - All rights reserved.
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American Salars Lithium INC. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY ) announces it has entered into a Letter Of Intent Agreement (the "Agreement") with an arm's length vendor to acquire up to 100% of the Salar De Pocitos Project (the "Project") consisting of 10 mineral tenements spanning approximately 13,080 hectares and contiguous to the Company's 800 hectare Flagship Pocitos 1 Project in Salta Province, Argentina. This represents a property size increase of 1635% to a footprint combined total of 13,880 hectares on the Pocitos Salar, within the prolific Lithium Triangle. The closing of this transaction will culminate in American Salars having the second largest property asset on the Salar de Pocitos.
The Company's existing 800-hectare Pocitos 1 claim has an NI 43-101 Mineral Resource Estimate ("MRE") prepared by WSP Australia. The MRE infers 760,000 tonnes of Lithium Carbonate Equivalent ("LCE") on the combined Pocitos 1 (800 Ha) and neighbouring Pocitos 2 block (532 Ha). On a pro-rata basis Pocitos 1 has 456,000 tonnes of LCE insitu. (American Salars does not currently own the neighboring 532 Hectare Pocitos 2 block - See Press Release Dated June 17, 2024). The NI 43-101 MRE was estimated on an inferred basis using a block model with 6% and 14% porosity respectively for the clay and sand lithologies. Completing borehole magnetic resonance surveys will provide continuous and higher accuracy allowing an upgrade of the resource.
The new 13,080 hectare Salar De Pocitos Project being acquired has been the subject of numerous historic exploration campaigns including drilling, surface sampling and geophysics. The initial work program will be a data compilation to tie together the existing drill holes on Pocitos 1 with all the historic drill holes and update the Company's NI 43-101 MRE. Scoping and feasibility studies will follow the data compilation and move the Salar De Pocitos Project through to commercial production.
The Salar De Pocitos Project is located approximately 100 kilometers west of San Antonio de Los Cobres which is the largest city at the top of the puna plateau and approximately 250 kilometers west of the Provincial Capital of Salta. The Pocitos Project benefits from some of the best infrastructure on the puna including Provincial Highway Route 17 and the Pocitos industrial Park settlement that has a natural gas pipeline and near the railway that runs through the salar to the Port of Antofagasta on the Chilean Pacific Coast.
American Salars CEO & Director R. Nick Horsley states, "This acquisition represents the culmination of tremendous work by the whole American Salars team and is a game changer for the Company and our stakeholders. Having consulted with some of the largest lithium mining companies in the world, we clearly understand the prerequisites for a takeover or production scenario. Today's acquisition provides our engineering and exploration team a district scale footprint to execute on."
Figure 1. Area map of Salar de Pocitos
Please click to view image
The Agreement
American Salars has entered into a letter of intent agreement whereby the Company will acquire a 75% interest immediately with Vendors with the potential to earn up to 100% undivided interest in the Property by paying to the Vendors the following cash payments totaling USD $2,000,000 and issuing 20,000,000 shares and issuing a royalty and Buy-Out Bonus based on the table below:
| DATE FOR COMPLETION | Cash USD (b) | COMMON SHARES (b) |
| On or before the date that is 10 days after signing of the Definitive Agreement | $100,000 | 2,500,000 (a) |
| On or before the first anniversary of the definitive agreement | $100,000 | 2,500,000 (a) |
| On or before the second anniversary of the definitive agreement | $300,000 | 5,000,000 (a) |
| On or before the third anniversary of the definitive agreement | $500,000 | 5,000,000 (a) |
| On or before the fourth anniversary of the agreement | $1,000,000 | 5,000,000 (a) |
| TOTAL | $2,000,000 | 20,000,000 (a) |
The transaction is subject to a 10% finder's fee
Pocitos 1 Claim
The Company's existing Pocitos 1 claim had WSP Australia complete an update of the NI 43-101 report initially written by Phillip Thomas QP in June 2023 and estimated on an inferred basis using a block model with 6% and 14% porosity for the clay and sand lithologies respectively and a Mineral Resource Estimate ("MRE") of 760,000 tonnes of Lithium Carbonate Equivalent ("LCE") on the combined Pocitos 1 (800 Ha) and neighbouring Pocitos 2 block (532 Ha). American Salars does not own the neighboring Pocitos 2 ground which comprises 40% of the gross land package that makes up the resource however it is notable that all drilling to date has been completed on American Salars' Pocitos 1 block.
Lithium values of 169ppm from drill hole PCT22-03 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project's December 2022 drill campaigns. A packer sampling system was used in HQ Diamond drill holes that were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours with all holes exhibiting exceptional brine flow rates. An NI 43-101 updated report completed by WSP Australia has been released on the Pocitos 1 project.
Ekosolve Ltd. a DLE technology company was able to produce 99.8% purity lithium carbonate and extraction was above 94% of the contained lithium in the brine i.e. 158.86ppm of lithium would have been recovered from 169ppm. The higher magnesium values in the brine did not impact the extraction efficiency.
Figure 2. Drilling at Pocitos 1 Lithium Brine Project (Salta, Argentina)
Please click to view image
Qualified Person
Phillip Thomas, BSc Geol, MBusM, FAusIMM (CPVal), MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release regarding Argentina properties, and has approved the disclosure herein. Mr Thomas is a shareholder of American Salars Lithium shares.
PDAC 2025
American Salars will be attending the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025. The Company encourages attendees to meet the American Salars team at Booth #3210 in the Investor's Exchange.
Additionally, the Company has terminated its Candela II, Incahuasi Salar option.
About American Salars Lithium Inc.
American Salars Lithium is a public exploration company focused on developing lithium resource projects. The Company's ultimate objective is the production of battery grade lithium carbonate to meet the growing demands of the battery industry. The Company's has a diversified portfolio of Lithium Brine and Hardrock projects in North and South America.
All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn , Twitter , TikTok , Facebook and Instagram .
On Behalf of the Board of Directors,
"R. Nick Horsley "
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.740.7492
E-Mail: info@americansalars.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
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International Lithium offers investors exposure to the growing critical metals sector through its advanced-stage Raleigh Lake lithium-rubidium project in Ontario, early-stage copper-cobalt exploration at Firesteel in Ontario, and strategic focus on Southern Africa, all supported by strong infrastructure and a seasoned leadership team.
With strategic divestments, a robust financial position, and a focused growth strategy, International Lithium is well-positioned to meet the rising demand for lithium and other critical metals
International Lithium (TSXV:ILC,OTC:ILHMF,FRA:IAH,OTCQB:ILHMF) is a Canada-based mineral exploration company focused on the discovery and development of lithium and other critical metals essential for the transition to a cleaner, greener planet. With a portfolio of projects located in mining-friendly jurisdictions, the company’s primary objective is to build shareholder value by advancing its key assets towards production while expanding its presence in emerging critical metals regions.
International Lithium's flagship asset is the 100 percent owned Raleigh Lake lithium and rubidium project in Ontario. A preliminary economic assessment (PEA) for the Raleigh Lake project, completed in December 2023, demonstrated strong project economics and significant resource growth potential, including an annual after-tax cash flow of C$634 million, NPV of C$342.9 million and IRR of 44.3 percent, with a nine-year mine life and project duration of 11 years. This assessment did not yet include rubidium, which represents significant additional potential pending further market analysis.
Complementing its lithium focus, the company is advancing the Firesteel copper-cobalt project in northwestern Ontario, targeting high-grade base metal mineralization to further diversify its critical metals exposure.
In addition to its Canadian projects, International Lithium is positioning for further international growth with a strategic focus on Southern Africa. It has applied for exclusive prospecting orders (EPOs) in Zimbabwe, one of the world's most prospective regions for hard rock lithium exploration.
Recent strategic divestments, including the sale of the Avalonia project stake, have strengthened ILC's financial position, enabling focused investment in its core projects.
The company is led by an experienced management team with a strong technical background in mineral exploration, project development and corporate finance. Supported by access to established infrastructure, a commitment to sustainable development practices, and a clear strategic focus, International Lithium is well-positioned to capitalize on the increasing global demand for lithium and other essential materials critical to the clean energy transition.
The Raleigh Lake project is ILC’s flagship asset, located approximately 25 kilometres west of Ignace, Ontario. The project covers a contiguous land package of 32,900 hectares and is 100 percent owned by the company. Raleigh Lake benefits from excellent infrastructure access, situated near the Trans-Canada Highway, a Canadian Pacific Railway line, and existing natural gas and hydroelectric infrastructure.
Major public infrastructure relative to the Raleigh Lake project
Raleigh Lake is notable for its dual potential to host both lithium and rubidium mineralization. The lithium is found primarily in spodumene-bearing pegmatites, while rubidium is associated with microcline-rich zones of the same lithium-cesium-tantalum pegmatite system. In 2023, International Lithium published a maiden mineral resource estimate (MRE) that delineated significant resources for both lithium and rubidium using separate cutoff criteria.
For lithium (Li₂O), the project hosts a measured and indicated resource of 5.88 Mt grading 0.79 percent Li₂O, and an inferred resource of 2.07 Mt grading 0.77 percent Li₂O, primarily within pegmatite #1. This lithium resource forms the basis of the company’s PEA, which demonstrated robust project economics with an after-tax NPV (8 percent) of C$342.9 million and an IRR of 44.3 percent.
The rubidium component, though not included in the PEA due to current market constraints, represents an additional potential value stream. The company has reported a measured and indicated resource of 133,000 tons at 6,163 ppm rubidium (0.67 percent Rb₂O) and an inferred resource of 123,000 tons at 4,224 ppm rubidium (0.46 percent Rb₂O), using a 4,000 ppm cutoff. The rubidium zones are found in association with potassic feldspar, offering a potentially recoverable byproduct pending further market and technical evaluation.
Given the project’s strong infrastructure position, mineral endowment, and defined development path, Raleigh Lake represents a compelling advanced-stage opportunity in North America's lithium supply chain. International Lithium is continuing infill and expansion drilling, environmental baseline studies, and metallurgical testing to support project advancement toward pre-feasibility.
The Firesteel project is an early-stage copper-cobalt exploration property located in northwestern Ontario, approximately 10 km west of Upsala along Highway 17. Spanning a 16-km corridor to the Firesteel River, the property lies within a geologically favorable region characterized by Archean metavolcanic and metasedimentary rocks, which are prospective for volcanogenic massive sulphide (VMS) and sedimentary copper systems.
International Lithium completed the acquisition of a 90 percent interest in the Firesteel project in May 2024, aiming to diversify its critical metals portfolio beyond lithium. Historical sampling on the property has returned encouraging results, including copper assays up to 2.6 percent and cobalt values reaching 309 ppm. Notably, the "Roadside 1" occurrence features semi-massive sulphide mineralization comprising pyrite, pyrrhotite, chalcopyrite and bornite. These findings suggest the presence of a highly metamorphosed VMS or sedimentary copper system, potentially up to 20 meters wide and extending over a kilometer in length.
The project's proximity to major infrastructure, including highways and railways, coupled with its strategic location near the company's Raleigh Lake project, enhances its development potential. International Lithium plans to conduct systematic exploration, including geochemical sampling and geophysical surveys, to refine targets for future drilling campaigns.
Wolf Ridge is a 5,700-hectare grassroots lithium project located 20 km southwest of Upsala and near ILC’s Firesteel copper claims. The area benefits from excellent infrastructure, including proximity to Highway 17, power, and road access.
The project was highlighted by the Ontario Geological Survey (2021–2022) for its standout lake sediment anomalies - among the highest lithium values in the region - indicating strong potential for LCT pegmatite mineralization.
Read more on page 54 of the report here.
Southern Africa is recognized as a prospective region for hard rock lithium, and International Lithium’s strategic focus reflects a proactive move to establish a presence in this emerging jurisdiction.
As part of its strategy to expand its critical metals footprint, International Lithium has applied for Exclusive Prospecting Orders (EPOs) over several prospective areas in Zimbabwe. The targeted regions are known for hosting spodumene, lepidolite and petalite-bearing pegmatites, indicating potential for significant lithium resources.
Although the EPO applications are still pending approval, the company has already conducted initial due diligence, including geological reviews and desktop studies, to prioritize exploration targets once access is granted. Zimbabwe’s growing importance as a global lithium supplier, combined with favorable mining policies, offers a compelling backdrop for the company's expansion efforts. International Lithium intends to leverage its technical expertise and exploration experience to quickly evaluate and develop these opportunities upon receiving the necessary permits
John Wisbey joined International Lithium in 2017, initially serving as deputy chairman before being appointed chairman and CEO in March 2018. Under his leadership, the company has undergone a significant transformation, including achieving 100 percent ownership of the Raleigh Lake project, divesting non-core assets, and expanding into new jurisdictions such as Zimbabwe. He founded two London AIM-listed companies: IDOX, which provides software for the UK local government; and Lombard Risk Management, which specializes in software for bank risk management and regulation. He also established CONVENDIA, a private company that specializes in software for cash flow forecasting, project valuation and M&A financial analysis. With a background in banking and financial technology entrepreneurship, Wisbey brings extensive experience in corporate leadership and strategic development. He is also the company's largest shareholder.
Maurice Brooks joined the board of ILC in 2017. He is a licensed senior statutory auditor in the UK. Since 2000, he has been a senior partner at Johnson Smith & Co. in Staines, Surrey. Before that, Brooks was a senior partner in Johnsons Chartered Accountants in the London Borough of Ealing. His commercial and investment experience includes executive directorships in manufacturing and an investment accountant role in the superannuation fund of the Western Australian state government. His early professional employment includes Ball Baker Leake LLP and LLC and Price Waterhouse Coopers-UK.
Anthony Kovacs joined the board of ILC in 2018 and has worked with the company since 2012. He has over 25 years of experience in mineral exploration and development. Before joining ILC, he held senior management roles in which he sourced and advanced iron ore and industrial minerals projects. Kovacs was involved in early-stage work at the Lac Otelnuk Iron Ore project in Quebec, Canada and the Mustavaara Vanadium Mine in Finland. Before that, Kovacs worked for Anglo American where he focused on Ni-Cu-PGE and IOCG projects. At Anglo-American, Kovacs was directly involved in several discoveries internationally. Kovacs has significant experience with industrial minerals, ferrous metals, non-ferrous metals and precious metals projects throughout the Americas, Europe and Africa.
Ross Thompson joined the board of ILC in 2017 and is the chair of the audit and remuneration committees. He is a speaker and expert in marketing behavioral science. In 1995, he founded Giftpoint Ltd. which is now one of the largest specialist promotional merchandise businesses in the UK. with offices in London and Shanghai. Giftpoint Ltd.’s clients include L’Oreal, Oracle, Ocado and Pernod Ricard among others. Thompson was president of IGC Global Promotions, one of the world’s oldest and largest global networks of premium resellers, for seven years. He is an active investor with a special interest and understanding of natural resources businesses.
Geoff Baker joined the board of ILC at the end of 2022 and is a member of the audit committee. He has a career in the natural resource and finance industries. He is a director of Tim Trading, a company offering consultancy services in the oil and gas industry. During his tenure as manager of Insch Black Gold Funds, Baker received the Investors' Choice Swiss Fund Manager of the Year Award. He is a co-founder of a digital collectible non fungible token CryptoChronic and of Cannastore, a pilot e-commerce website. Baker holds a bachelor's degree from the University of Windsor in Ontario.
Muhammad Memon became corporate secretary of ILC in 2021. He has over 10 years of experience in managing finance and compliance functions of public companies in various sectors including mining exploration, investment management, real estate and technology. He assists companies with debt and equity financings, cash flow management and forecasting, legal and regulatory compliance, investor communications, stakeholder engagement and risk management. He is a member of the Chartered Professional Accountants of Canada and a fellow of the Association of Chartered Certified Accountants, United Kingdom.
Metals Australia offers investors exposure to a rapidly advancing, high-grade graphite development project in Quebec with near-term growth catalysts, backed by strong government support, battery-grade test results, and a diversified portfolio of critical, precious and base minerals assets in tier-1 jurisdictions.
Metals Australia (ASX:MLS) is a mineral exploration company with a high-quality portfolio of advanced battery minerals and metals projects in tier-1 mining jurisdictions of Western Australia and Canada. The portfolio comprises two critical minerals projects in Quebec, Canada – the Lac Carheil flake graphite project and the Corvette River gold, silver and base metals project. The Australian portfolio comprises two projects: Warrego East (copper-gold) in Tennant Creek, Northern Territory, and Manindi (vanadium-titanium, zinc) in Western Australia.
The push for net zero targets and the call from policymakers to transition to cleaner energy has intensified the focus on electric vehicles (EVs) and battery storage. EV automakers and battery manufacturers rely on essential materials such as graphite and metals, including lithium, nickel, copper and cobalt, to manufacture the batteries that are used in these vehicles and storage batteries generally. This has driven carmakers and battery manufacturers to partner with battery material suppliers under direct off-take agreements. Further, some automakers/battery manufacturers are buying equity stakes in miners, involving them directly in financing decisions for the development of mining projects. This is encouraging for companies such as Metals Australia as it actively advances its projects towards development.
Graphite is a critical mineral required for the mass electrification of auto transportation.
Metals Australia is focused on progressing its flagship Lac Carheil flake graphite project in Quebec, Canada. The project is well-positioned to supply high quality graphite products, including battery-grade graphite, to the North American market – including for lithium-ion and EV battery production in the future. The company has completed a major winter drill program and is targeting a mineral resource upgrade in Q3 2025, with the updated resource to feed into the ongoing PFS and downstream studies.
Metallurgical work has demonstrated battery-grade spherical graphite (99.96 percent graphitic carbon) with high conversion efficiency and tap density. Downstream battery-grade purification and shaping test work is underway in Germany with ANZAPLAN.
Metals Australia is also advancing its gold silver and base metals exploration project at Corvette River, which is adjacent to Patriot Battery Metals’ world-class lithium project. Work to date has included mapping, trenching and sampling, with further drilling programs planned for 2025.
The company continues its exploration programs at its other Australian projects: Manindi (vanadium-titanium-magnetite) and Warrego East (copper-gold).
The 100 percent owned Lac Carheil graphite project is located in eastern Quebec, a tier-1 mining jurisdiction with strong infrastructure and government support. The project lies near the town of Fermont and has excellent access to power and logistics, including proximity to the upgraded Highway 389, nearby hydropower infrastructure, and an expanding provincial road network.
Project location, claims boundaries, graphite resource & trends, regional magnetics & sample results
The current JORC 2012 mineral resource is 13.3 Mt 11.5 percent total graphitic carbon (Cg) for 1.53 Mt of contained graphite, based on limited drilling along just 1 km of a much larger 36 km mapped trend. The resource includes an indicated resource of 9.6 Mt @ 13.1 percent Cg, and inferred resource: 3.7 Mt @ 7.3 percent Cg.
A major 9,482-meter winter diamond drilling program was completed in early 2025, increasing total project drilling to ~11,800 meters. The program defined a new southeast extension zone with multiple intersections >15 percent Cg and demonstrated graphite continuity over 2.3 km of strike length, more than double the previous extent.
The results from this drilling campaign are being incorporated into an updated mineral resource estimate, expected in Q3 2025, which will underpin the next stage of project development.
Metallurgical and battery test work has confirmed Lac Carheil’s graphite is suitable for battery-grade applications, with:
A PFS is being led by Lycopodium Minerals Canada and is progressing in parallel with downstream battery anode (BAM) test work led by ANZAPLAN in Germany, a location study for a BAM facility, likely in Canada, and marketing and pricing assessments in collaboration with Lone Star Technical Minerals.
The project is uniquely positioned to meet North America’s surging demand for secure, domestic graphite supply, especially for EV and energy storage battery markets. It represents a strategic, high-grade, long-life source of critical material, with potential for vertical integration from mine to battery anode material.
Highlights of results from Corvette River project phase 1 2024 field program
The Corvette River gold, silver and base metals project is located in Quebec’s James Bay region. Corvette River comprises multiple prospects including East Eade, West Eade and Felicie. The 2024 program confirmed high-grade gold and base metal zones, with trench samples of up to 29.7 g/t gold. Field programs are ongoing, with follow-up work planned in 2025.
Located in the Murchison District of Western Australia, the Manindi project includes a JORC-compliant zinc-copper-silver resource of 1.08 Mt at 6.52 percent zinc, 0.26 percent copper and 3.19 g/t silver. The project also hosts a high-grade vanadium-titanium-iron (Ti-V-Fe) discovery zone situated adjacent to the base metals resource.
Recent metallurgical test work from the Ti-V-Fe zone has produced two commercially attractive concentrates: a high-grade iron-vanadium product grading 66 percent Fe and 1.19 percent V₂O₅, and a titanium-iron product grading 43.8 percent TiO₂ and 32.0 percent Fe. The combined mass recovery from the two products exceeded 65 percent of the sample, and both products displayed low impurity levels and strong commercial potential. Further processing optimization is underway to enhance the TiO₂ grade.
The mineralised Ti-V-Fe zone remains open at depth and along strike and is hosted within a 2 km-long magnetic gabbro trend. A program of work is being finalised to support drilling to define a mineral resource within the original discovery and to test four newly identified nearby targets. These complements renewed interest in the zinc-copper-silver resource due to stronger base metal prices.
The Warrego East copper-gold project is located in the Tennant Creek region of the Northern Territory, near the historically significant Warrego Mine. The exploration license (E32725) is fully granted, and the mining management plan has been approved. Land access agreements have also been finalised.
Geophysical surveys have defined 11 compelling magnetic and gravity targets along a known mineralised corridor. These targets lie within a prospective structural setting that hosts several high-grade historical deposits. A field program is being prepared for execution following the wet season, alongside three additional tenement applications that aim to expand the project footprint.
A mining engineer, Paul Ferguson has over three decades of experience in the resources and energy sectors across North America, Asia and Australia. He has extensive project development and operational experience working in Canada. He has worked in oil & gas major ExxonMobil across project stages, including feasibility, design, construction, and operation. He has worked in executive level roles within Australia, including at GMA Garnet and held increasingly more senior roles with BHP (Iron Ore & Coking Coal) and then with Exxon Coal Minerals and Mobil Oil Australia during the early stages of his career.
Tanya Newby is a finance and governance professional with over 20 years’ experience in various corporate and commercial roles. She has a strong background in the resources sector and has provided financial advice and assistance to several publicly listed entities through exploration, project development through to the production stage. She is a member of the Institute of Chartered Accountants, member of the Governance Institute of Australia and a graduate member of the Institute of Company Directors.
Michael Muhling has over two decades of experience in resources, including 15 years in senior roles with ASX-listed companies. He is a fellow of CPA Australia, The Chartered Governance Institute, and the Governance Institute of Australia.
Chris Ramsay is a geologist and project manager with over 25 years of experience in the global mining industry. He has been involved in exploration, mine development and operations for mining projects in Australasia, Southeast Asia, and parts of Africa and North America.
Michael Scivolo has extensive accounting and taxation experience for corporate and non-corporate entities. He was a partner/director at a CPA firm until 2011 and has since been consulting in accounting and taxation. Scivolo is on the boards of several ASX-listed mining companies, including Sabre Resources, Golden Deeps and Tennant Minerals Ltd.
Alexander Biggs has over 20 years of experience in the mining and engineering sectors. During his career, he has been involved in various activities, including operations, consulting, finance and capital raising. He is currently the managing director of Lightning Minerals (ASX) and was previously the managing director of Critical Resources (ASX: CRR). Biggs is a member of the Australian Institute of Mining and Metallurgy and a graduate of the Western Australian School of Mines.
Rachelle Domansky is an ESG specialist and a consulting psychologist for businesses, governments and educational institutions in the Asia-Pacific region. In addition to Metals Australia, Domansky holds non-executive board positions at Larvotto Resources Ltd and Quebec Lithium.
Basil Conti has been associated with the mining industry for over 25 years. He is a fellow of the Institute of Chartered Accountants Australia & NZ and was a partner/director of a chartered accounting firm in West Perth until 2015.
“China needs growing feedstock to supply its chemical demand,” Cook explained at Fastmarkets' Lithium Supply & Battery Raw Materials event, “and Africa is of growing importance in fulfilling this gap.”
Between 2025 and 2035, lithium production across Africa is projected to increase by a staggering 127 percent, driven by new mines in Zimbabwe, Mali, Ethiopia and Namibia. Cook highlighted that against that backdrop Africa’s share of global lithium supply will surge from a small fraction today to around 80 percent by 2030.
The motivation for China is clear: the Asian nation cannot meet demand by tapping domestic sources alone. China’s hard-rock lithium supply has a growing deficit that will multiply fivefold by 2035.
“That deficit is growing and is said to be a five times increase from 2020 to 2035,” Cook said, pointing to forecasts of rising chemical demand from Chinese battery producers. As a result, Chinese firms have aggressively invested in African lithium projects, locking up supply in countries with looser regulatory controls and cheaper production costs.
In Zimbabwe and Mali, Chinese ownership of lithium mines is expected to remain significant, even if the share of Chinese-owned production in Africa declines modestly from 79 percent in 2025 to 65 percent by 2035.
“In 2025, African output is set to have 79 percent of it being China owned, and that percentage reduces down to 65 percent in 2035,” Cook stated, adding that overall output will still nearly double.
As a result, total Chinese-controlled volumes will keep rising.
Zimbabwe in particular has positioned itself at the heart of Africa’s lithium expansion.
Under its Vision 2030 program, introduced in 2018, the country is aiming to transition to an upper- to middle-income economy by building more domestic value from its minerals. As part of this framework, authorities have prioritized increasing value addition and beneficiation of raw materials as a central pillar of economic growth
Zimbabwe's 2022 ban on raw lithium ore exports, coupled with a planned 2027 ban on concentrate exports, is designed to force local upgrading and refining. Chinese-backed operators have already responded to this move, investing in midstream processing facilities that convert lithium ore into more valuable chemicals.
Cook said there were no surprises in Zimbabwe’s 2027 concentrate ban because Zimbabwe’s largest lithium projects — Arcadia and Bikita — had already planned sulfate plants late last year.
Both projects are already dominated by Chinese investors. In fact, Cook said Zimbabwe could soon become the fifth-largest producer of mined lithium globally, with Chinese interests controlling as much as 90 percent of its output.
Slide from Cook showing Zimbabwe's future lithium supply dominance in Africa.
Image via Georgia Williams.
Despite this surge, Africa’s lithium boom is hardly risk-free. Cook flagged serious challenges in transport, electricity and worker conditions in her presentation at the Fastmarkets conference.
“Local workers often also tend to be within the lower skilled jobs, and unlike the Australian mines, a lot of that work is done manually, which can mean there is an increased risk to personal safety,” she said.
Road bottlenecks and port congestion in countries like South Africa hamper exports, while rolling blackouts push some miners to build their own power infrastructure. However, China’s Belt and Road Initiative is easing some of those pain points, upgrading key transport corridors to keep African lithium flowing.
Domestically, China is also seeing a shift in how it sources lithium.
Benchmark Mineral Intelligence data shows that brine-based production, once a major source for China, is declining relative to hard rock. By 2035, hard rock will make up the majority of Chinese feedstock.
Cook speaks on stage at the Fastmarkets event.
Image via Georgia Williams.
While the reopening of CATL's (SZSE:300750,HKEX:3750) mine in Jiangxi province this year will help, Cook argued that China is still structurally dependent on Africa and other regions to fill the supply gap.
That dependence, she said, is at the heart of Beijing’s long-term lithium security push. “China is directly investing to secure supply, to get that hard-rock feedstock," she commented.
While Zimbabwe, along with Mali, is grabbing attention now, Cook forecast that new African lithium suppliers will emerge by 2035, including Ethiopia, Namibia and the Democratic Republic of Congo.
She also noted potential future lithium supply growth from Rwanda, Nigeria and Côte d'Ivoire, even though these countries are still years away from commercial production.
This potential dominance could come with price advantages too.
African lithium projects often have lower upfront costs compared to Australia because of their lower grades and cheaper labor, even though they may face higher impurities and weaker ESG oversight.
“It also means that in terms of pricing, we see that the spodumene price that's coming out of some of these projects is typically around US$20 to US$30 lower than the spot price that you'll see quoted by Newcastle,” Cook noted.
Still, quality issues and chronic underinvestment in African infrastructure could slow progress. Cook emphasized that transport, electricity reliability and governance will determine whether Africa can live up to its lithium promise.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Henderson began by going over key numbers relevant to the lithium sector. According to the CEO, there was a 26 percent year-on-year increase in demand for electric vehicles (EVs) from 2023 to 2024.
Lithium plays a vital role in the production of EVs, as it is a key component of the batteries that power them.
Alongside that EV demand increase, mass energy storage also saw a 51 percent leap.
“I don’t think there’ll be any deniers around the long-term prospects of lithium, but it's worth reflecting on how quickly it’s changing," Henderson told the Fastmarkets audience.
Henderson speaks on stage at the Fastmarkets event.
Image via Georgia Williams.
Looking at areas connected to lithium, Henderson mentioned solar, saying it now surpasses all power-generation technology investment combined. Solar falls under the clean energy umbrella, which receives more than $2.2 trillion in investment per year — twice the amount of investment made in fossil fuels.
“We are witnessing and (are) part of an incredible period. Technology, policy (and) consumer sentiment can continue to drive what is a structural shift towards electrification," he said. "Lithium remains at the center of this shift."
The paradox, according to Henderson, is that while scaling up is happening, prices have been cycling down.
“We’re 12 months into a period of curtailments and reset. And where we are now — we sit deep into the cost curve with price levels, of course, at unsustainable levels for many operators," he noted.
"But these cycles, or these resets, offer a fantastic reset for market, albeit they're painful.”
The Pilbara CEO emphasized that while lithium prices have fallen to “clearly unsustainable” levels, the long-term demand and strategic relevance of lithium will survive it.
“This is not a short-term trend. This is a structural transformation, and lithium remains at core.”
Looking over to Pilbara Minerals, Henderson went over its recent achievements and future plans.
“We’re keeping our lives absolutely committed to our strategy,” he said about the company, adding that the past year was Pilbara Minerals' “most transformational year for business.”
Highlights from the period include the acquisition of Latin Resources and its flagship Salinas lithium project in Brazil, which was announced in August 2024 and closed this past February.
The CEO also discussed the company’s flagship Pilgangoora operation, which he described as a globally significant tier-one lithium asset with a mine life of 33 years. Pilgangoora is located 140 kilometers from Port Hedland in Western Australia and is one of the world’s largest hard-rock lithium operations.
Pilbara Minerals has completed two expansions, including the buildout of the world’s largest hard-rock ore-sorting plant, which aims to improve lithium recovery, increase final product quality and reduce energy consumption.
In addition to that, Henderson said Pilbara Minerals boosted its reserves by 23 percent last year.
Furthermore, the company became a lithium hydroxide producer via its partnership with POSCO Holdings (NYSE:PKX,KRX:005490), and is working on a demonstration plant for its midstream project.
In January, the Western Australian government’s Investment Attraction Fund contributed AU$15 million for work at the plant, which is a joint venture with Calix (NYSE:CALX,ASX:CXL).
Henderson said the demonstration plant is currently under construction.
Last year, Pilbara Minerals contributed approximately 8 percent to global lithium supply. The company’s cash balance currently stands at AU$1.1 billion.
According to Henderson, certainty and efficient operations are everything in today’s lithium market.
“Government policy is forcing change, both in sticks and carrots, and supply chain diversification is underway, but largely the processing remains very much concentrated," he said.
Henderson highlighted coordination and collaboration as key points, saying that thriving in this environment means building deeper integration across the supply chain.
Lithium industry challenges and opportunities.
Chart via Pilbara Minerals.
He added that the lithium industry is not the first sector to grow from a small base and has yet to mature on a number of dimensions. Henderson summarized his key recommendations into four points:
He also presented a list of challenges and corresponding opportunities regarding the lithium market, saying that while there’s a lot of pain in the industry, it's also the time for great partnerships to be forged.
“This industry will evolve with or without our stewardship. This is a call to leadership across our group,” he concluded. “The challenge is ours. The opportunity is real. Let's build it together and turn this market pain into a strategic avenue.”
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.