Resource News

Argentina Lithium & Energy Corp. (TSX-V: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") is pleased to announce that it is expanding its lithium exploration project holdings at the Pocitos Salar in Salta Province at the heart of Argentina's world-renowned Lithium Triangle. The Company's holdings in this salar now total over 26,000 hectares (see Figure 1: https:bit.ly3HNEurI ). The Company and its Argentinian subsidiary, Argentina Litio y Energía S.A. have entered into three new option agreements with local vendors to acquire a 100% interest in 10,364 hectares of new properties. The Company already holds an option for 15,857 hectares of properties located on the west side of the Pocitos Salar (see October 14, 2021 News Release ).

¨Pocitos, one of the largest salars within Argentina's Lithium Triangle, remains a key under-explored salar in Salta. With these new acquisitions, we are now the largest holder of claims in this very prospective basin," stated Nikolaos Cacos , President and C.E.O.

The Pocitos Salar is located approximately 100 kilometres west of the town of San Antonio de los Cobres, the largest town in Argentina's high plain, and approximately 250 kilometres west of the provincial capital city of Salta. The Provincial Route 17 and the natural gas pipeline-fed industrial park at the settlement of Pocitos are located 17 km to the east. The rail line that crosses the middle of the Pocitos West property joins Salta with the port of Antofagasta on the Chilean Pacific coast. The present surface expression of the Pocitos Salar is approximately 57 kilometres north-south, and approximately 10 kilometres east-west. The salt pan is almost completely flat with portions of the older salar surface covered by talus and alluvial fan. The new properties are believed to have had little prior exploration and no drilling; they are located along the eastern flank and southern portion of the Pocitos basin. The Company will be planning its exploration approach to the Pocitos properties over the coming weeks.

Option Agreement Details

Argentina Lithium can acquire a 100% interest in the 1,602 hectare "El Pidio GIII" property in the southeast of the Pocitos Basin pursuant to an option agreement dated January 3, 2022 . The option terms include US$165,000 in cash payments over three years, including a mandatory total of US$30,000 over the first 18 months. In addition, 25,000 shares of the Company are to be issued to the vendor on signing, with additional share issuances valued at CAD$70,000 over the subsequent three years, including mandatory issuances valued at CAD$25,000 over the first 18 months.

Argentina Lithium can acquire a 100% interest in the Aguamarga 11 and Aguamarga 16 properties, totalling 7000 hectares in the east flank of the Pocitos Basin pursuant to an option agreement dated January 3, 2022 . The option terms include US$1,890,000 in cash payments over three years, including a mandatory total of US$105,000 over the first 12 months. In addition, 168,000 shares of the Company are to be issued to the vendor on signing, with additional share issuances valued at CAD$651,000 over the subsequent three years, including a mandatory issuance valued at CAD$126,000 after twelve months.

The obligations of the Company under the two above-mentioned option agreements are subject to the approval of the TSX Venture Exchange (the " Exchange ").

The number of common shares of the Company issuable under the option agreements are calculated based on the discounted market price of the Common Shares on the Exchange on the business day immediately prior to the date of this news release. All shares issued pursuant to the terms of the option agreements are subject to a hold period under applicable securities laws for a period of four months from the date of issuance.

The third agreement dated January 6, 2022 , gives Argentina Lithium the option to earn a 100% interest in five properties totalling approximately 1,762 hectares at the Pocitos Salar ("the Ramos Properties" see Figure 1). The option terms include mandatory payments totalling US$150,000 in the first year, followed by US$550,000 2 years after signing.

Qualified Person
The contents of this news release have been reviewed and approved by David Terry , Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101.

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 management group has a long history of success in the resource sector of Argentina , and has assembled a first rate team of experts to acquire and advance the best 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

https://www.facebook.com/argentinalithiumcorp/
https://twitter.com/arglit
https://ca.linkedin.com/company/argentina-lithium-&-energy-corp .
https://plus.google.com/103374365154724549351
https://argentinalithium.com/feed

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 closing of the transactions contemplated in the option agreements and Exchange approval of the option agreements; 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 inability to obtain Exchange approval to the option agreements; he 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-significantly-expands-lithium-portfolio-options-additional-properties-on-pocitos-salar-in-salta-province-301456821.html

SOURCE Argentina Lithium & Energy Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2022/10/c2450.html

News Provided by Canada Newswire via QuoteMedia

LIT:CA
Argentina Lithium & Energy

Argentina Lithium & Energy


Overview

Argentina is poised to become a growing leader in lithium production. The country’s government is actively encouraging foreign investment and renewable energy initiatives. Recently, the country’s administration announced an intention to increase Argentina’s production of lithium from 40,000 metric tons to 230,000 metric tons by the end of 2022. Today, Argentina is one of the top five global producers of lithium and hosts approximately 60 percent of known lithium reserves.

Argentina is home to a sizable share of the prolific Lithium Triangle, the largest resource of lithium in the world. Approximately half of the world’s lithium supply comes from the Lithium Triangle that spans Chile, Bolivia and Argentina. Some believe that the Triangle could host additional discoveries, specifically in Argentina. With the demand for lithium is expected to grow at a CAGR of 14.8 to reach a market size worth $8.2 billion by 2028, opportunities in Argentina’s Lithium Triangle may present an exciting opportunity for investors.

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 Grosso Group Management which is a resource management group that has pioneered exploration in Argentina since 1993.

Argentina Lithium & Energy Lithium Triangle

Argentina Lithium and Energy has a strong land position in Argentina with nearly 58,000 hectares of claims on four salars in the pro-mining provinces of Salta and Catamarca. The company’s properties are strategically located near key infrastructure, towns, rail, water and power. Argentina Lithium’s projects are also accessible year-round through an existing road network.

The company’s project portfolio includes Rincon West, Pocitos, Antofalla North and Incahuasi. In October 2021, the company announced that it signed a definitive agreement to acquire 100 percent interest in the highly prospective Rincon West and Pocitos properties in the Salta Province in Argentina. The agreement is pending approval on the TSX Venture Exchange. The projects are located in the most underexplored area of the Lithium Triangle with the potential to host the discovery of high-grade lithium brines.

Argentina Lithium & Energy Rincon West Aerial View

The company’s Rincon West project is located adjacent to two significant resource development projects with proven resources owned by Rincon Resources (ASX:RCR) and Argosy Minerals (ASX:AGY). The company believes that the Rincon West project may have the potential to host high-grade lithium brines.

The company’s fully-owned Antofalla North project is located in the Salta province less than 20 kilometres from Argentina’s largest lithium-producing operation at Salar de Hombre Muerto. The Antofallo North project is also located north of Albemarle Corporation’s (NYSE:ALB) Salar de Antofalla project which has grades of 350 mg/L of lithium and 6,400 mg/L of potassium.

Argentina Lithium and Energy’s fully-owned Incahuasi project is located in the Incahuasi Salar and basin. The project is north of Lake Resources’ (ASX:LKE) Kachi project. Incahuasi features maximum lithium values of 409 mg/L lithium and 1.56 percent potassium recovered in near-surface sampling to an 8-metre depth.


The company is led by Grosso Group’s management team which has a history of major mineral discoveries in Argentina, including the Mineros S.A. (TSX:MSA) Gualcamayo Gold mine, SSR Mining’s (TSX:SSRM) Chinchillas Silver Gold Zinc deposit, Pan American Silver’s (TSX:PAAS) Navidad Silver Lead project and Blue Sky Uranium’s (CVE:BSK) Amarillo Grande Uranium and Vanadium project.

Company Highlights

  • Focused on developing nearly 58,000 hectares of highly prospective lithium projects in the prolific Lithium Triangle.
  • The company’s projects include Rincon West, Pocitos, Antofalla North and Incahuasi which are strategically located near high-grade lithium projects.
    • The Rincon West and Pocitos projects are located in the most underexplored area of the Lithium Triangle with the potential to host the discovery of high-grade lithium brines.
    • The Incahuasi project features maximum lithium values of 409 mg/L lithium and 1.56 percent potassium recovered in near-surface sampling to an 8-metre depth.
  • The company has signed a definitive agreement to acquire a 100 percent interest in the Rincon West and Pocitos properties, pending approval on the TSX Venture Exchange.
  • The company is a member of Grosso Group Management Ltd. which has a successful track record in making major discoveries in Argentina.

Key Projects

Rincon West

Argentina Lithium & Energy Rincon West Photo

The Rincon West project is a prospective 2,370-hectare lithium project located in the Salta province in Argentina. The project is located west of the Rincon Salar which hosts two significant resource development projects with proven reserves. These projects are owned by Rincon Resources Ltd. (ASX:RCR) and Argosy Minerals Ltd. (ASX:AGY) which Rincon West is adjacent to.

The property is situated in the Lithium Triangle with access to an international highway, pacific ports and a major electrical power corridor.

Argentina Lithium and Energy plans to begin a work program in 2022 consisting of 40 line kilometre transient electromagnetic soundings to delineate lithium brines and test the bottom of the basin. Argentina Lithium and Energy believes that the Rincon West project may have the potential to host high-grade lithium brines. The company has the option to acquire up to 100 percent in the Rincon West project, subject to TSXV approval.

Pocitos

The Pocitos project is a prospective 15,857-hectare lithium project located in the Salta province in Argentina. The property is situated in the Lithium Triangle with access to an international railway, pacific ports, provincial highway and a major gas pipeline.

Argentina Lithium & Energy Pocitos Project Argentina

The Pocitos project features limited historic exploration, including geophysics, surface sampling and limited drilling.

The company plans to conduct a 50 line kilometre line of transient electromagnetic soundings to detect and delineate brine concentrations for testing in 2022. The company has the option to acquire up to 100 percent in the Pocitos project, subject to TSXV approval.

Antofalla North

The Antofalla North project is a prospective 9,080-hectare lithium project located in the Salta province in Argentina. The company owns a 100 percent interest in the property and has an additional 5,380 hectares under option.

The property is situated in the Puna region with access to a provincial highway and unpaved roads. The Antofalla North project is located less than 20 kilometres from Argentina’s largest lithium-producing operation at Salar de Hombre Muerto. The Antofallo North project is also located north of Albemarle Corporation’s (NYSE:ALB) Salar de Antofalla project which has grades of 350 mg/L of lithium and 6,400 mg/L of potassium.

Argentina Lithium & Energy Antofalia North Map

Argentina Lithium and Energy has conducted a CSAMT geophysical survey that identified high-conductivity targets in the upper 100 metres and additional targets at depth.

The company plans to obtain permits, conduct a 35 line kilometre of transient electromagnetic soundings to delineate brine deposits and drill up to three diamond holes in 2022.

Incahuasi

The 100 percent owned Incahuasi project is a high-grade 25,000-hectare lithium project located in the Incahuasi Salar and basin in the Catamarca province of Argentina. The project is north of Lake Resources’ Kachi project.

In 2017, the company completed its first exploration program consisting of initial geophysical, surface sampling and drilling programs on the property. Argentina Lithium and Energy found maximum lithium values of 409 mg/L lithium and 1.56 percent potassium recovered in near-surface sampling to an 8-metre depth. Argentina Lithium also conducted four drill holes which confirmed lithium-bearing brines with average grades of 109 mg/L of lithium and 6,718 mg/L of potassium.

The company plans to conduct a 50 line kilometre of transient electromagnetic soundings to detect and delineate new brine concentrations for testing. Argentina Lithium and Energy believes that the project is underexplored and may have the potential to host a quality lithium brine at depth.

Management Team

Nikolaos Cacos - M.I.M., President, CEO and Director

Nikolaos Cacos has over 25 years of management and advisory expertise in the mineral exploration industry. He has worked with Grosso Group since its inception and serves as a senior-level executive for all of its member companies. Cacos’ career includes administration and strategic planning for public companies. He currently serves as an officer and director of several TSX Venture Exchange-listed companies. He holds a Master’s degree in International Management from Heidelberg, Germany and a Bachelor of Science degree from the University of British Columbia.

Miles Rideout - Vice President of Exploration

Miles Rideout has 34 years of experience in advanced exploration practice, responsible business management, scientific team building and mining integration with local communities and indigenous peoples.

In recent positions, Rideout has directly managed the acquisition and exploration of dozens of lithium properties in northern Argentina. Previously, he served as CEO of Latin American Minerals Inc. (TSX:LAT) for 5 years in which he advanced gold and diamond projects in Paraguay. Rideout also spent 23 years with Quantec Geoscience Inc. where he initiated operations in South America and managed subsidiaries in several countries. He has experience in mine permitting, financing, construction and operations, including implementing the first operating mine in Paraguay. In addition, Rideout has deep expertise with all major geophysical technologies applied within the mining industry. He also has decades of experience working with many of the most successful exploration teams in South America. He participated in the discovery of several world-class deposits including the Collahuasi and Ujina copper-porphyry deposits, Veladero epithermal gold deposit and Navidad VMS/epithermal silver deposit. Rideout received a Bachelor of Science with Honors Certificate in Geophysics from the University of Western Ontario in 1987. Rideout is fluent in English and Spanish and has lived in Mendoza, Argentina for more than 20 years.

Connie Norman - Corporate Secretary

Connie Norman is a senior corporate officer with over 18 years of experience within the public company sector. Norman has provided corporate secretarial and regulatory compliance services. While her primary focus has been on TSX Venture-listed issuers, she has also worked with companies listed on the TSX and HKEx.

Darren C. Urquhart - CPA, CA, Chief Financial Officer

Darren Urquhart is a chartered professional accountant with 20 years of experience working in public practice and industry. Urquhart operates his public practise accounting firm in which he offers chief financial officer and accounting services to TSX Venture Exchange-listed companies in Vancouver, Canada. He has also served as director for some of his corporate clients. Urquhart began his career working as an audit accountant with Grant Thornton LLP. Later he worked as a senior tax accountant with Lohn Caulder Chartered Accountants. Urquhart obtained his chartered accountant designation in 2001 and is a member of the Chartered Professional Accountants of British Columbia. In 1995, Urquhart graduated from the University of British Columbia with a Bachelor of Applied Science in Electrical Engineering.

Joseph Grosso - Director

Joseph Grosso became one of the early pioneers of the mining sector in Argentina in 1993 when mining was opened to foreign investment. He was named Argentina's 'Mining Man of The Year' in 2005. His knowledge of Argentina was instrumental in attracting a premier team that led to the acquisition of key properties in Golden Arrow's portfolio. He has successfully formed strategic alliances and negotiated with mining industry majors such as Barrick, Teck, Newmont, Viceroy (now Yamana Gold) and Vale S.A. and government officials at all levels. Grosso's specialty is financing, negotiations, corporate and marketing strategy. He was an early and passionate adopter of best practices in environmental protection and socio-economic development through mineral exploration. He is the founder and president of Grosso Group Management Ltd.

John Gammon - Director

John Gammon has 40 years of experience in mineral exploration and management. His experience includes international positions with Falconbridge, assistant deputy minister mines and minerals with the Government of Ontario and, since his retirement, as ADM as a consultant working with industry, governments and universities. In addition to Dr. Gammon's mineral exploration experience, he has also spent a significant amount of time on aboriginal community and environmental issues. His knowledge of the Spanish language, South American culture and local societies coupled with his industry experience can assist the company with the advancement of its projects in Argentina.

The Power Play by The Market Herald Releases Interviews With Xali Gold, Falcon Gold, Psyched Wellness, Argentina Lithium, and Algernon Pharmaceuticals

The Power Play by The Market Herald has announced the release of new interviews with Xali Gold, Falcon Gold, Psyched Wellness, Argentina Lithium, and Algernon Pharmaceuticals discussing their latest press releases

The Power Play by The Market Herald provides investors with a quick snapshot of what they need to know about the company's latest press release through exclusive insights and interviews with company executives.

Keep reading... Show less
Argentina Lithium & Energy

Argentina Lithium Announces Corporate Update

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 retained Zoppa Media Group (" Zoppa ") to act as an investor relations consultant to the Company, to assist with corporate finance and investor relations programs. Zoppa has been engaged for a term of one year at a monthly fee of $1,500 .

Keep reading... Show less

InvestmentPitch Media Video Discusses Argentina Lithium & Energy's Significant Expansion of its Lithium Portfolio of Properties at the Pocitos Salar in Argentina - Video Available on Investmentpitch.com

Argentina Lithium and Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQB: PNXLF) has significantly expanded its lithium portfolio of properties at the Pocitos Salar in Argentina. The company and its Argentinian subsidiary have entered into three new option agreements with local vendors to acquire a 100% interest in 10,364 hectares of new properties in the heart of Argentina's world-renowned Lithium Triangle.

For more information, please view the InvestmentPitch Media "video" which provides additional information on the company and this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Argentina Lithium" in the search box.

Keep reading... Show less

Argentina Lithium Closes Non-Brokered Private Placement

/NOT FOR DISTRIBUTION TO THE UNITED STATES /

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), ("Argentina Lithium" or the "Company") announces that it has closed the private placement announced on November 1, 2021 and increased on November 26, 2021 through the issuance of 2,155,500 Units in this 3 rd and final tranche (the "Final Tranche") for aggregate gross proceeds to the Company of $969,975 . In total, the Company has closed on 13,260,337 Units for aggregate gross proceeds of $5,967,152 .

Keep reading... Show less
argentina lithium

Argentina Lithium Increases Non-Brokered Private Placement and Closes 2nd Tranche

/NOT FOR DISTRIBUTION TO THE UNITED STATES /

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), ("Argentina Lithium" or the "Company") announces that due to high investor demand, the Company has increased the private placement amount announced on November 1, 2021 from $4,950,000 to $6,750,000 consisting of 15 million units (the "Units") at $0.45 per Unit.

Keep reading... Show less
large lithium battery

Top 9 Lithium Stocks (Updated January 2022)

Editor's note — This article was originally focused on the top Canadian lithium stocks, but has been expanded to cover the top lithium stocks globally. Click here to read about the top Canadian lithium stocks.

Lithium prices hit an all-time high in 2021 as electric vehicle sales went through the roof in key markets.

With interest in battery metals surging, plenty of lithium companies have experienced share price increases.

Here the Investing News Network takes a look at the top lithium stocks with year-on-year gains. The list below was generated using TradingView’s stock screener on January 20, 2022, and includes companies listed on the NYSE, TSX, TSXV and ASX; all top lithium stocks had market caps above $10 million when data was gathered.

Keep reading... Show less

Power Metals Closes Equity Financing and Welcomes Sinomine as Partner

Power Metals Corp. (" Power Metals " or the " Company ") (TSX VENTURE : PWM)(FRANKFURT: OAA1)(OTC: PWRMF) is pleased to announce that it has closed its previously announced $1,500,000 equity financing with Sinomine Resource Group Co., Ltd., and the concurrent non-brokered financing of an additional $1,500,000 in units (the " Units ") for total gross proceeds to the Company of $3,000,000 .

Keep reading... Show less
Balkan Mining and Minerals

Received Boron Assays Yields Encouraging Exploration Results For Dobrina Project

Balkan Mining and Minerals Ltd (BMM or the Company) (ASX: BMM) is pleased to announce the final boron assays from its surface sampling program completed at the Dobrinja project.

Keep reading... Show less
Lithium Power International

Outstanding Results Delivered By The Maricunga Lithium Brine Project In Its Updated Definitive Feasibility Study

Lithium Power International Limited (ASX: LPI) (“LPI” or the “Company”) through its Joint Venture (“JV”) Company, Minera Salar Blanco S.A. (“MSB”), is pleased to provide details of the updated Definitive Feasibility Study (DFS) for its Maricunga Stage One lithium brine project in northern Chile. The study confirms that Maricunga Stage One could be one of the world’s lowest-cost producers of lithium carbonate, with a solid ESG strategy to support a sustainable future.

Keep reading... Show less
Europena Metals Logo

PFS UPDATE DELIVERS OUTSTANDING RESULTS

European Metals Holdings Limited (EMH or the Company) (ASX & AIM: EMH, OTC – Nasdaq Intl ADS: EMHXY) is pleased to announce the results of the mining update to the 2019 Pre-Feasibility Study (2022 PFS Update), led by mining definitive feasibility study (DFS) consultant Bara Consulting, on the backfilling potential of the Cinovec mine, in which it has a 49% economic interest, in the Czech Republic.

Keep reading... Show less
Europena Metals Logo

SUCCESSFUL PLACING TO RAISE ~AUD14.4 M

European Metals Holdings Limited (EMH or the Company) (ASX & AIM: EMH, OTC – Nasdaq Intl ADS: EMHXY) is pleased to announce it has successfully received firm commitments for a placement for 10,285,000 CDI’s at an issue price of A$1.40 per CDI to raise approximately A$14.4 million (before costs) (Placement) from institutional clients of Euroz Hartleys. The Placement was well supported by Ellerston Capital, a leading Sydney based fund manager with in excess of $4 Billion in funds under management, which is investing ~$13million. The proceeds of the Placement will assist in the further development of the Cinovec Lithium Project, the largest hard rock lithium resource in Europe, and further general working capital.

Keep reading... Show less

Latest Press Releases

Related News

×