Argentina Lithium Further Expands Rincon West and Antofalla North Projects

Argentina Lithium Further Expands Rincon West and Antofalla North Projects

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQB Venture Market (OTC): PNXLF

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") is pleased to announce that it has entered into option agreements with local vendors to earn a 100% interest in two new mining concessions on salars in northwestern Argentina . The Don Fermin property option (" Don Fermin ") adds 1456 hectares to the Company's holdings at Salar de Rincon, bringing the total Rincon West Project area to 5198.8 hectares. The Lexi-30 property option (" Lexi ") adds 789 hectares to the Company's Antofalla North Project, increasing the holdings controlled by the Company to 16,619.5 hectares.

Argentina Lithium & Energy Logo (CNW Group/Argentina Lithium & Energy Corp.)

Nikolaos Cacos , CEO of Argentina Lithium stated "We continue to emphasize accretion of prospective resource properties to our first-tier projects at Rincon and Antofalla North. These new areas will be incorporated into our exploration programmes, and we are planning to deploy advanced geophysics to confirm the presence of brine aquifers followed by drilling and pump tests to evaluate their potential for hosting lithium in brines. Our financing agreement with Stellantis, announced on September 27 th , places us in a strong position to acquire and fully explore highly prospective salar properties as they come available."

Don Fermin is a mining concession granted by the mining authority of Salta Province , located on the eastern flank of the Salar de Rincon, approximately 19 km east of the Company's main Rincon West property block (See Map 1 ). The property has not received significant exploration work previously. It is located adjacent to Rio Tinto's Rincon Project and 1.1 km distance northeast of Argosy Minerals' Rincon Project.

Lexi-30 is a mining concession granted by the mining authority of Catamarca Province, located on the west side of the Salar de Antofalla, adjacent to the Company's existing Antofalla North property block (See Map 2 ). The property has been the subject of TEM surveys in the past but has not previously been drilled. It is located approximately 1.1 km northwest of Albemarle Corporation's Antofalla Project.

[Argentina Lithium cautions that proximity to a discovery, mineral resource, or mining operation does not indicate that mineralization will occur on the Company's property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario.]

Don Fermin Agreement Details

Terms of the option include cash payments totaling US$2,750,000 over 18 months, including an initial non-reimbursable payment of US$250,000 . The Company can advance the dates of the subsequent four payments at its discretion. The vendor retains a 1.5% Net Smelter Royalty (" NSR ") which can be repurchased for US$4M .

Lexi Agreement Details

Terms of the option specify two cash payments totaling US$425,000 , including a non-reimbursable initial payment of US$50,000 , and an optional final payment of US$ 375,000 , payable at up to 12 months. The vendor retains a 2% Net Smelter Royalty (" NSR "). In the instance that the vendor wishes to transfer or sell the NSR, the Company has the right to match the terms of NSR transference or sale.

Qualified Person

Frits Reidel , CPG is a Qualified Person as defined in National Instrument 43-101, and the Principal of Atacama Water, and is independent of Argentina Lithium. The disclosure in this news release has been reviewed and approved by Mr. Reidel.

About Argentina Lithium

Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them towards production in order to meet the growing global demand from the battery sector. The Company's recent strategic investment by Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., one of the world's leading automakers, places Argentina Lithium in a unique position to explore, develop and advance its four key projects. Management has a long history of success in the resource sector of Argentina and has assembled some of the most prospective lithium properties in the world renowned "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"
______________________________
Nikolaos Cacos , President, CEO and Director

www.argentinalithium.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements.  Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations.   Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/argentina-lithium-further-expands-rincon-west-and-antofalla-north-projects-301980928.html

SOURCE Argentina Lithium & Energy Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2023/08/c0013.html

News Provided by Canada Newswire via QuoteMedia

LIT:CA
Argentina Lithium & Energy

Argentina Lithium & Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Argentina Lithium & Energy (TSXV:LIT)

Argentina Lithium & Energy


Keep reading...Show less

Discovery in the Lithium Triangle and Strategic Partnership with Global Automaker

Argentina Lithium and Energy Exhibiting at Booth 2924, PDAC 2025 Convention in Toronto, March 2-5

Argentina Lithium and Energy Exhibiting at Booth 2924, PDAC 2025 Convention in Toronto, March 2-5

Visit Argentina Lithium and Energy (TSXV: LIT) (OTCQB: LILIF) at Booth #2924 at 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.

About Argentina Lithium and Energy

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Argentina Lithium Announces 225-metre Lithium Brine Interval at the 14th Exploration Well on the Rincon West Project

Argentina Lithium Announces 225-metre Lithium Brine Interval at the 14th Exploration Well on the Rincon West Project

TSX Venture Exchange (TSX-V): LIT  
Frankfurt Stock Exchange (FSE): OAY3
OTCQB Venture Market: LILIF

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQB: LILIF), ("Argentina Lithium" or the "Company") reports positive results from the fourteenth exploration well at its Rincon West Project in Salta Province Argentina . Sixteen representative 2.5 or 3 m brine samples collected over a 225-metre interval of RW-DDH-14 ranged from 277 to 379 mgl lithium.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Argentina Lithium Announces Cancellation of the Non-Brokered Private Placement

Argentina Lithium Announces Cancellation of the Non-Brokered Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQX Venture Market: LILIF

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Argentina Lithium Announces Amendment to the Terms of the Non-Brokered Private Placement Using The Listed Issuer Financing Exemption

Argentina Lithium Announces Amendment to the Terms of the Non-Brokered Private Placement Using The Listed Issuer Financing Exemption

TSX Venture Exchange (TSX-V): LIT  
Frankfurt Stock Exchange (FSE): OAY3

/NOT FOR DISTRIBUTION TO UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Argentina Lithium Applies to Extend Warrants November 06, 2024

Argentina Lithium Applies to Extend Warrants November 06, 2024

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FRA): OAY3
OTCQX Venture Market (OTC): PNXLF

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF) ("Argentina Lithium" or the "Company") announces that the Company has made an application to the TSX Venture Exchange to extend the term of the outstanding warrants as follows:

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
ION Announces US$13.5M Joint Venture on Urgakh Naran, Corporate Updates and Update on Rare Earths Transaction

ION Announces US$13.5M Joint Venture on Urgakh Naran, Corporate Updates and Update on Rare Earths Transaction

Lithium ION Energy Limited (TSXV: ION) (FSE: ZA4) ("ION" or the "Company") is pleased to share that it has entered into a binding Joint Venture Agreement with SureFQ Ltd. ("SureFQ") for the advancement of the Urgakh Naran project in Mongolia, in which ION will continue to hold a 20% free carried interest through to commercial production.

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Altech Batteries Ltd  Agreement to Secure EUR2.5M in Funding

Altech Batteries Ltd Agreement to Secure EUR2.5M in Funding

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to advise that it is in the process of selling its land in Johor to help fund the ongoing development of the CERENERGY(R) battery project and the Silumina Anodes(TM) battery materials project, as well as to support general working capital requirements.

Highlights

- Altech, subject to receipt of shareholder approval, will have the ability to drawdown up to EUR2.5M in cash funding

- Agreement reached with major shareholder Deutsche Balaton AG to provide funding

- Funding to be provided as Bearer Bonds with interest payable at 7.0% per annum

- Bearer Bonds secured by Altech's Malaysian land

- Repayment of the Bearer Bonds anticipated to be from sale of Altech's Malaysian land

- Shareholder meeting to approve facility anticipated for late April 2025

The Company has also entered into a binding Bond Note Subscription Deed with its major shareholder Deutsche Balaton AG, under which Altech can drawdown up to EUR2.5M in cash in the form of interest-bearing Bearer Bonds.

This funding will allow Altech to progress with its projects without the dilutionary impact to shareholders of a capital raise via a share issue. The repayment of the Bearer Bonds is secured by Altech's Malaysian land and requires Altech shareholder approval, and a General Meeting is anticipated to be convened in late April 2025.

Key terms of the Subscription Agreement are as follows:

- Total Bearer Bond facility of up to EUR2.5M to be drawdown in EUR500K amounts with interest payable at 7.0% per annum.

- Altech shareholders approving the grant of security to Deutsche Balaton AG over its Malaysian land in accordance with any requirement of the ASX, or the ASX granting a waiver from any requirement of the listing rules to obtain shareholder approval.

- a Security and Security Trust Agreement has been entered into under which Altech's 100% owned subsidiary Altech Chemicals Sdn Bhd has pledged security over its Malaysian land as well as a guarantee of repayment of the Bearer Bonds.

- Repayment of Bearer Bonds by maturity date of 31 October 2026.

- Default clauses applicable standard for Subscription Deeds of this nature.

Altech has placed its Malaysian land in Johor on the market for sale. Proceeds from the sale of the land are expected to provide sufficient funds to enable the Bearer Bonds to be repaid in full.



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
SAGA Metals Extends Claims at the Radar Project by 26% to Cover 20km Inferred Oxide Zone

SAGA Metals Extends Claims at the Radar Project by 26% to Cover 20km Inferred Oxide Zone

Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, announces the addition of 180 claims spanning 4,500-hectares, increasing the total size of the Radar Titanium-Vanadium (Ti-V) project from 17,250-hecatres to 21,750-hectares. This addition now encompasses the 20km inferred oxide zone starting from the 2025 Hawkeye drill program area heading west towards the new claim boundary.

Michael Garagan, CGO & Director of SAGA comments: "Important information garnered from the combined field & drill programs suggests the oxide layer zone at Hawkeye may be contiguous to Trapper and possibly as far as SAGA's claim extension. These additional claims were strategic in an effort to ensure we've secured the full extent of mineralization. The team will look to apply magnetic geophysical continuity over the entire ‘inferred layering zone of the Dykes River' intrusion. The recently completed drill program over the prospective Hawkeye zone is our proof of concept to a much larger system."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Argentina Lithium & Energy

Argentina Lithium & Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×