- In July 2022, Argentina Lithium (LIT.V; PNXLF.OTC) announced a discovery of lithium in brine at the company’s Rincon West project, adjoining Rio Tinto to the southwest at the Rincon salar in far northwestern Argentina.
- The discovery, confirmed now with results from four widely spaced holes, demonstrates lithium values equivalent to the grades in Rio Tinto’s resource estimate.
- The stock is starting to get exciting and is anticipated to draw more interest from investors because the company has another five holes to report – two in for assay now, and three being drilled – with a maiden resource statement projected to be reported in April-May 2023.
- Antofalla North is Argentina Lithium’s second highly prospective project, which adjoins a large lithium resource controlled by one of the world’s largest lithium producers, Albemarle Inc., and about 25 kilometers west of Argentina's largest lithium-producing operations at Salar de Hombre Muerto.
- Other projects include Pocitos and Incahuasi, which are strategically located near high-grade lithium projects.
- The company is backed by Grosso Group Management Ltd., which has already made four world-class mineral discoveries in Argentina.
Demand for lithium is expected to grow at a compounded annual growth rate of 11.75 percent, reaching a market size worth $15.45 billion by 2028, due to the popularity of EVs. Can supply keep up with this demand? It hasn’t so far, with the price of lithium rising strongly and holding its gains of the last two years.
This renewed focus on lithium is also shining a spotlight on the famed Lithium Triangle, where about 60 percent of the world’s lithium reserves are located. The Lithium Triangle spans portions of Chile, Bolivia and Argentina. With its rich lithium resource base and a stable, mining-friendly regulatory environment, Argentina has the perfect formula to become a leader in lithium production.
Argentina is already among the top five global producers of lithium, producing approximately 10 percent of the global lithium supply. And there is potential for growth as the Argentine government has set a goal of increasing Argentina’s lithium production substantially in 2022 and 2023. It’s no wonder Argentina is one of the most attractive regions for mining and exploration companies with potential to make further high-value lithium discoveries.Argentina Lithium and Energy (TSXV:LIT, OTC:PNXLF, FWB:OAY3) is a mineral exploration company focused on developing a portfolio of highly prospective lithium projects in Argentina. The company is a member of the Grosso Group, a resource management firm that has pioneered exploration in Argentina since 1993.