Charger Metals NL (ASX: CHR, “Charger” or the “Company”) is pleased to provide an update for its Lake Johnston Lithium Project, which includes proposed drilling at the Medcalf Prospect. This program will follow the completion of drilling campaigns at the Company’s Coates and Bynoe Projects where drilling approvals are expected in the near term. The Lake Johnston Lithium Project’s ownership is predominately 70% Charger and 30% Lithium Australia NL (ASX: LIT) (see Schedule 1).
Charger’s Managing Director, David Crook commented:
“Charger has commenced the statutory approvals process required before the commencement of drilling of the spodumene-pegmatite target at the Medcalf Spodumene Prospect, which has mineralised outcrops extending over at least 500m of strike and where rock chip samples returned between 1.51% and 5.13% Li2O.
“Charger has successfully delivered new, priority drill targets at each of the Company’s three projects, and despite delays out of our control, we continue to work proactively with Western Australian and Northern Territory regulatory bodies and other stakeholders to commence drilling on each project as soon as permitting is finalised.”
The region hosting the Lake Johnston Project has attracted considerable interest in LCT pegmatite mineralisation due to its proximity to the large Mount Holland Lithium Project under development by Covalent Lithium Pty Ltd (a joint venture between subsidiaries of Sociedad Química y Minera de Chile S.A. and Wesfarmers Limited) located approximately 70km west of the Lake Johnston Project. Mt Holland is understood to be one of the largest undeveloped hard-rock lithium projects in Australia with Ore Reserves for the Earl Grey Deposit estimated at 94.2 Mt at 1.5% Li2O1.
Drilling schedule
The DMIRS2 has flagged delays processing “Program of Work” approvals for ground disturbing activities in Western Australia, which has impacted the start date for drilling at the Company’s Coates Ni Cu Co PGE Project. Similarly, the Company is working through the Northern Territory “Mine Management Plan” process prior to drilling commencing at its Bynoe Lithium Project. The Company is prepared for an immediate start at either of these projects on receipt of the respective statutory approvals.
Drilling planned for the Medcalf Spodumene Prospect
A program of approximately 40 RC holes is proposed to test the Medcalf Spodumene Prospect pegmatites.
The Medcalf Spodumene Prospect was discovered by reconnaissance fieldwork in 2018 and 20193, which included soil geochemistry, mapping and rock chip analysis centred on an area northeast of Lake Medcalf4, WA. Previously, the GSWA5 1:250,000 Lake Johnston map indicated a pegmatite outcrop at this location.
The fieldwork identified a spodumene-pegmatite swarm, comprising about 20 anastomosing pegmatite dykes that outcrop in an area between 500m and 800m long within a corridor 300m wide. The strike direction of the pegmatite dykes is approximately northwest and dip is to the southwest.
Charger’s 2022 soil geochemistry program extended the halo of the lithium-in-soil geochemical anomaly at Medcalf further north into an area where pegmatite-derived sands and minor outcrops suggest a possibly sub-parallel zone just northeast of the main Medcalf pegmatite swarm.
Figure 1: Medcalf Lithium Prospect showing mapped pegmatites, soil sample and rock chip locations. Assays shown are of spodumene-bearing rock chips. The central black rectangle aligns with the geochemical image in Figure 2 below. The large width of the outcropping pegmatite cluster will be drill tes
Figure 2: Shows image processed Li assay values from soil geochemistry (background), overlain by graduated point Li2O assay values. The area of the Medcalf pegmatite cluster is indicated by the central black rectangle with a soil geochemistry anomaly over covering approximately 800m by 600m
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This article includes content from Lithium Australia NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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
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 a strong track record of government and community relations.
About PDAC
The World's Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 26,000 attendees in person in 2024, participants could also attend programming, courses and networking events.
The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world's mineral industry.
For more information and/or to register for the conference please visit: https://www.pdac.ca/convention.
We look forward to seeing you there.
For further information:
Argentina Lithium and Energy
Shawn Perger
17786860135
perger@grossogroup.com
argentinalithium.com/
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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.
"The fourteen exploration wells drilled at Rincon West have validated our belief that the property has competitive grade potential. All drill holes have demonstrated mid-grade brines, validating our interpretation of the conductive formations identified during geophysical targeting." stated Miles Rideout , V.P. of Exploration. "Our team is currently working on the resource model for the initial exploration area, located on the west side of the Rincon salt flat adjacent to Rio Tinto's Rincon Project. This resource work incorporates results from pump tests currently being completed on the project's initial rotary well. Additional rotary wells are planned for the project, subject to permit approval. The provincial ministry is currently reviewing the drill permit application for the eastern Don Fermin block, which has had no previous drilling but has extensive geophysical responses suggesting subsurface conductive targets are present."
The results, including sampling method, sample interval data, and brine analyses for RW-DDH-14 are shown in Table 1. Drill collar information is presented in Table 2. An extensive selection of core samples has been sent to an independent laboratory for brine recovery testing.
The Rincon West Project covers 5198.8 hectares of the salar basin, consisting of three property blocks adjacent to Rio Tinto's Rincon Project. Drill hole RW-DDH-14 represents the fifth exploration hole of the 6-hole program planned for the Rinconcita II property, originally announced in the Company's October 19, 2023 News Release. The Company is currently completing a long-duration pump test at the sixth hole (RW-RT-01), a deep rotary well drilled beside RW-DDH-11.
Figure 1 presents a map of the western (main) block of the Rincon West project showing the positions of the fourteen exploration diamond drill holes and single rotary hole completed at Rincon West (see News Releases dated July 13, 2022 , October 3, 2022 , October 25, 2022 , January 26, 2023 , April 24, 2023 , May 31, 2023 , January 22, 2024 , April 24, 2024 .and October 1, 2024 ). The drill location plot is overlain by a yellow shaded outline of electrically conductive zones delineated by two geophysics campaigns (see News Releases dated May 2, 2022 and October 19, 2023 ).
Table 1: Interval data and results of brine analyses for lithium, potassium, and magnesium for drill hole RW-DDH- 14*
Sample interval (m) | Sample Method | Li | K | Mg | Density | ||
From | To | Thickness | (mg/litre) | (g/ml) | |||
24.5 | 27.5 | 3.0 | Single packer | 288 | 5695 | 2643 | 1.195 |
36.5 | 39.5 | 3.0 | Single packer | 294 | 5716 | 2797 | 1.19 |
30.5 | 33.5 | 3.0 | Double packer | 289 | 5641 | 2711 | 1.189 |
42.5 | 45 | 2.5 | Single packer | 277 | 5403 | 2695 | 1.186 |
48.5 | 51.5 | 3.0 | Single packer | 285 | 5548 | 2725 | 1.187 |
66.5 | 69.5 | 3.0 | Single packer | 355 | 6836 | 3186 | 1.215 |
54.5 | 57.5 | 3.0 | Double packer | 353 | 6777 | 3207 | 1.215 |
72.5 | 75.5 | 3.0 | Single packer | 357 | 6881 | 3207 | 1.216 |
84.5 | 87.5 | 3.0 | Single packer | 363 | 7013 | 3302 | 1.216 |
114.5 | 117.5 | 3.0 | Single packer | 379 | 7548 | 3178 | 1.219 |
120.5 | 123.5 | 3.0 | Single packer | 377 | 7521 | 3166 | 1.22 |
132.5 | 135.5 | 3.0 | Single packer | 371 | 7444 | 3131 | 1.22 |
138.5 | 141.5 | 3.0 | Single packer | 362 | 7282 | 3135 | 1.219 |
144.5 | 147.5 | 3.0 | Single packer | 357 | 7146 | 3145 | 1.22 |
240.5 | 243.5 | 3.0 | Single packer | 335 | 6833 | 2850 | 1.218 |
246.5 | 249.5 | 3.0 | Single packer | 364 | 7419 | 3047 | 1.217 |
340.0 | 380.0 | 40.0 | Single packer | 177 | 3644 | 1100 | 1.176 |
*The drill hole was inclined vertically; the brine hosting strata are believed to be flat lying resulting in reported intervals approximating true thickness. |
Drilling Methodology
RW-DDH-14 was executed with HQ-diameter diamond drilling, permitting the extraction of core samples of the salar basin formations and the recovery of brine samples where possible.
Drilling was carried out by Salta-based AGV Falcon Drilling SRL, under the supervision of Argentina Lithium's geologists.
Table 3: Collar and maximum depth information for RW-DDH-14 | ||||||
Hole ID | East | North | Elevation | Azimuth | Dip | Depth |
UTM Zone 19S (WGS84) | (m) | (deg.) | (deg.) | (m) | ||
RW-DDH-14 | 685248 | 7337015 | 3726 | n/a | 90 | 455.0 |
The Company's preferred method for brine sampling deploys a 'single packer' sampling unit during drilling. The packer sampling method allows the recovery of brine samples at specific depths while sealing the hole at the top and bottom of the interval. For single packer sampling, an inflatable seal closes the top of the interval; the lower limit of drilling represents the bottom of the interval. In certain instances, double packer sampling is conducted following the completion of drilling. In this case, inflatable seals are employed to close both the top and bottom of the sample interval. While the geologists can vary the interval length when using single packer sampling, the double packer system is limited to testing 3 m intervals.
Geophysical profiling and lining the hole with 2" diameter PVC filters have been completed. All core samples recovered in drilling were retained for geologic logging.
Observations regarding RW-DDH-14
RW-DDH-14 is located on the eastern-central portion of the Rinconcita II property, within the western salt flat at Rincon Salar.
A total of 17 brine samples were extracted using the single or double packer methods and were submitted for chemical analysis. Sampling was generally accomplished from 3 m intervals, though one 2.5 m interval and one 40 m interval were sampled. Brine samples collected between 24.5 m depth and 249.5 m depth ranged from 277 to 379 mg/l lithium. Over this 225 m interval, 16 single or double packer brine samples were collected totalling 47.5 m of sampling, representing 21.1% of the entire interval.
Drilling from surface to 15.5 m depth intersected fine sandy sediments. Medium sandy layers are interlayered with sandy breccias between 15.5 and 71 m depths. Sandy breccias then dominate to 137 m depth. Relatively loose gravel and sands were intersected between 137 m and 144.7 m . Crystaline halite (salt) was drilled between 144.7 and 208 m . Sandy sediments containing several clayey layers were logged between 208 m and 245 m . Breccia sedimentary units were drilled between 245 and 349 m , frequently exhibiting alteration. Ignimbritic breccia and fractured ignimbrite were logged between 349 and 372.5 m whereupon a tricone was required to advance to 375.5, thus 3 m of core was not recovered. Ignimbritic breccia and fractured ignimbrite then continued to 404.4 m . Breccia with traces of pyrite was drilled between 404.4 and 437.25 m . Ignimbritic breccia was then intersected, extending to the bottom of the hole at 455 m . The sandy units described in this exploration hole are expected to be the most productive levels for extracting lithium brine.
Analyses and QA/QC
Samples of brine were submitted for analysis to Alex Stewart International Argentina S.A. (" Alex Stewart "), the local subsidiary of Alex Stewart International, an ISO 9001:2017 certified laboratory, with ISO 17025:2017 certification for the analysis of lithium, potassium and other elements. Alex Stewart employed Inductively Coupled Plasma Optical Emission Spectrometry (" ICP-OES ") as the analytical technique for the primary constituents of interest, including boron, calcium, potassium, lithium, and magnesium. Measurements in the field included pH, electrical conductivity, temperature and density.
The quality of sample analytical results was controlled and assessed with a protocol of blank, duplicate and reference standard samples included within the sample sequence. For hole RW-DDH-14 the lot contained one blank and one duplicate sample, which reported within the acceptable range. Single low-grade, medium-grade and high-grade reference standard samples (3 standards in total) were included within the submitted sample suite. The low-grade reference standard analysed higher than 3 standard deviations (" SD ") of best value, with 10.4 relative percent difference (" RPD "); the medium-grade reference standard analysed below 3 SD of best value, with 1.3 RPD; the high-grade reference standard analysed below 3 SD of the best value with 2.3 RPD.
Qualified Person
Frits Reidel , CPG is a Qualified Person as defined in National Instrument 43-101, is the Principal of Atacama Water Consultants, and is independent of Argentina Lithium. Mr. Reidel has reviewed the work carried out by the Company's exploration team at the early-stage Rincon West property. 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 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 covering over 70,000 hectares in the Lithium Triangle of Argentina . 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
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.
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SOURCE Argentina Lithium & Energy Corp.
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HIGHLIGHTS
Comment regarding the strategic update from Livium CEO and Managing Director, Simon Linge
"We have advanced our strategy to inflection points, with the next phases of growth for each division requiring strategic partners to underpin their growth and development. With a focus on strategic growth partners, we have reviewed our resourcing and made the decision to restructure our organisation and reduce costs.
Livium remains committed to delivering returns for shareholders. Whilst organisational changes may impact our ability to react to opportunities, right sizing the organisation assists in resetting the Company's cost base to become sustainable over this critical period."
NEAR TERM PLANS
The following activities have been identified as key to delivering value in the near term:
BATTERY RECYCLING GROWTH OUTLOOK
The Battery Recycling division generates revenue today, is the largest recycler of lithium-ion batteries in the country, draws on our technical expertise to provide value-added services and has strong commercial relationships. Strategic focus is being placed on Battery Recycling, through Envirostream, due to the potential of increased recycling volumes over the coming years.
During CY2024, Envirostream successfully increased volumes of EV' andESS2 with most of the volume being received under exclusive customer arrangements. Over CY2024, Envirostream collected 736k tonnes of large format batteries and it is estimated that there are five times these volumes available today which are increasingly expected to be recycled due to consumer demand and government regulation. In their Battery Market Analysis, B-cycle show how EV and ESS batteries are expected to dominate3.
Figure 1. EOL Battery Projections by Market Segment3
Focusing on only EV / ESS for the balance of the decade demonstrates the near-term opportunity for Envirostream collections growth relative to current performance.
Figure 2. 5-Year EV and ESS EOL Battery Projections3
The near-term outlook for Envirostream is positive, enabling increases of volumes collected and processed, and providing an opportunity to expand our service offerings in line with market requirements.
To accommodate expectations of market growth, the business intends to explore deploying growth capital to improve operating efficiencies and expand capacity. The company has appointed advisors to coordinate discussions around partnership and growth funding options, which includes both strategic partners and other financiers.
Click here for the full ASX Release
This article includes content from Livium Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
/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
Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF) ("Argentina Lithium" or the "Company") announces that further to the Company's news release dated October 29, 2024 and amended on November 8, 2024 and despite significant interest from investors including existing shareholders, it will not be proceeding with the non-brokered private placement offering using the Listed Issuer Financing Exemption for the sale of: (i) a minimum of 8,000,000 units of the Company (each, a " Unit ") at a price of $0.15 per Unit (the " Offering Price ") for aggregate gross proceeds of $1,200,000 ; and (ii) a maximum of 23,333,334 Units at the Offering Price for aggregate gross proceeds of $3,500,000.10 (the " Offering ").
The Company is considering alternate sources in funding that do not result in the issuance of shares nor any dilution to our current shareholders.
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 2023 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 covering over 70,000 hectares in the Lithium Triangle of Argentina . 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
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.
SOURCE Argentina Lithium & Energy Corp.
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TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
/NOT FOR DISTRIBUTION TO UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/
Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) ("Argentina Lithium" or the "Company") announces it is amending the terms of the Company's previously announced non-brokered private placement for the sale of: (i) a minimum of 8,000,000 units of the Company (each, a " Unit ") at a price of $0.15 per Unit (the " Offering Price ") for aggregate gross proceeds of $1,200,000 ; and (ii) a maximum of 23,333,334 Units at the Offering Price for aggregate gross proceeds of $3,500,000.10 (the " Offering "). Red Cloud Securities Inc. will be acting as a finder in connection with the Offering.
Each Unit will consist of one common share in the capital of the Company (each, a " Common Share ") and one transferrable Common Share purchase warrant (each, a " Warrant "). Each Warrant will entitle the holder thereof to purchase one additional Common Share (each, a " Warrant Share ") at an exercise price of $0.20 per Warrant Share for a period of three (3) years following the issue date of the Unit.
"While we received a substantial investment from Stellantis last October 2023 , those funds have been earmarked for our drilling and exploration activities on our projects in Argentina . A prepaid drilling services contract for up to 15,500 meters secured last October for just over $51 million ensures that all upcoming drill programs for the next couple of years are fully funded, " stated Nikolaos Cacos , President and CEO. " The current financing will ensure that our corporate activities will keep pace with our ongoing exploration programs. "
Please contact Shawn Perger at 1-604-687-1828 or Toll-Free: 1-800-901-0058
Email: info@argentinalithium.com
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the Units will be offered for sale to purchasers resident in Canada other than Quebec and in certain offshore jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the " Listed Issuer Financing Exemption "). The Units may also be sold in certain other jurisdictions pursuant to applicable securities laws. The Common Shares issuable from the sale of Units sold under the Listed Issuer Financing Exemption are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada , subject to any hold period imposed by the TSX Venture Exchange (the " Exchange ") on the securities issued to certain purchasers. There is an amended and restated offering document relating to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.argentinalithium.com . Prospective investors should read this offering document before making an investment decision.
Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including but not limited to, the approval of the Exchange. Directors, officers and employees of the Company may participate in a portion of the Offering and any securities issued to such directors and officers are subject to the Exchange's four-month hold period. A commission may be paid to arm's length finders on a portion of the Offering. The Company intends to use the proceeds of the Offering for exploration programs on the Company's projects in Argentina and for general working capital.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " 1933 Act ") or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the 1933 Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
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 covering over 70,000 hectares in the Lithium Triangle of Argentina . 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
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 contains certain statements and information that may be considered "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved" and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, without limitation, statements or information concerning the use of proceeds of the Offering; the closing of the Offering; the Company's expectations about when the Offering will close, if the Offering closes at all; the Company's expectation that it will meet the requirements of the Exchange necessary to have the Common Shares listed; the size and other terms of the Offering; the participation by insiders in the Offering; finder's fees; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; future exploration and operating plans; and the expectation that all of the closing conditions will be met.
These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, including, without limitation, assumptions about the proposed completion of the Offering; future prices of lithium; the price of other commodities; currency exchange rates and interest rates; favourable operating conditions; political stability; timely receipt of governmental approvals, licences and permits (and renewals thereof); access to necessary financing; stability of labour markets and market conditions in general; availability of equipment; the accuracy of mineral resource estimates and preliminary economic assessments; estimates of costs and expenditures to complete the Company's programs and goals; and there being no significant disruptions affecting the development and operation of the project.
There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include: the risk that the Offering will not complete on the timeline anticipated or at all; the risk that all necessary regulatory approvals will not be obtained, including the approval of the Exchange; the risk that the Company will not be able to utilize the proceeds of the Offering as anticipated; risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions; risks relating to unanticipated operational difficulties; failure of equipment or processes to operate in accordance with specifications or expectations; cost escalations; unavailability of materials and equipment; government action or delays in the receipt of government approvals; industrial disturbances or other job action; unanticipated events related to health, safety and environmental matters; risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; ongoing war in Ukraine , rising inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all and economic activity in general; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities regulators.
The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Argentina Lithium & Energy Corp.
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Galan Lithium’s investment appeal is driven by its Hombre Muerto West project, a top 20 global lithium resource featuring high-grade, low-cost lithium brine concentrate, on track for near-term production in Argentina’s renowned mining region.
Argentina is no stranger to lithium mining. The South American nation is one of three encompassed in the prolific Lithium Triangle, a region that holds more than 60 percent of the world’s lithium resources. Argentina has the world’s second greatest endowment of lithium reserves (17 Mt), concentrating lithium operations in the provinces of Jujuy, Salta and Catamarca.
Demand for lithium is forecasted to grow from approximately 1 Mt LCE in 2024 to around 3Mt in 2030, a compound annual growth rate of around 20 percent. Argentina has committed to $7 billion worth of investment for lithium production with strong growth projected for exports at $1.1 billion in 2023.
Galan Lithium (ASX:GLN,FSX:9CH) is an Australia-based international mining development company focused on its high-quality lithium brine projects in Argentina – Hombre Muerto West and Candelas. The company also holds a highly prospective lithium project in Australia – Greenbushes South.
The company’s flagship Hombre Muerto West (HMW) project hosts some of Argentina’s highest grade and lowest impurity levels with an inventory of 8.6 million tons (Mt) contained LCE @ 859 mg/L lithium, with 4.7 Mt contained LCE @ 866 mg/L Li in the measured category. The 100-percent-owned property is strategically located near Rio Tinto’s recently acquired Arcadium Lithium project, highlighting its position within a highly sought-after lithium region
Galan has signed a commercial agreement with the Catamarca Government supporting the grant of permits to enable the commercialisation of lithium chloride concentrate from HMW to be sold locally or exported internationally.
In August 2024, Galan entered into a memorandum of understanding with Chengdu Chemphys Chemical Industry Co. for an offtake prepayment agreement for the HMW project. Once a definitive agreement is executed, Chemphys will purchase a total of 23,000 tonnes lithium carbonate equivalent, as a lithium chloride product, over the first five years of production from Phase 1 of the HMW project. Chemphys will also provide Galan with an offtake prepayment facility to facilitate the continued development of Phase 1 of the HMW project.
The company also executed binding agreements with Authium Limited, securing a comprehensive funding and offtake package to support initial production from the Hombre Muerto West (HMW) Project. Under the agreements, Authium will fund, supply, and operate processing technology at HMW, significantly reducing Galan’s upfront capital and operating costs.
Catamarca Governor Raúl Jalil and Galan Lithium Managing Director Juan Pablo Vargas de la Vega in Catamarca.
In September 2024, Galan successfully completed a capital raising of AU$20 million, including a fully-subscribed Entitlement Offer of $13.3m, reflecting strong shareholder support and confidence in the Company’s strategic direction and the development of its HMW project
In addition to Hombre Muerto West, Galan Lithium’s portfolio includes several strategically positioned projects that complement its flagship asset:
Backed by a highly experienced management team, Galan is well-positioned to advance these complementary projects while maintaining its primary focus on developing HMW into a world-class lithium production hub.
The 100-percent-owned Hombre Muerto West project is a large land property that sits on the west coast of the Hombre Muerto salar in Argentina, the second-best salar in the world for the production of lithium from brines. The property also leverages strategic positioning near Arcadium Lithium, recently acquired by Rio Tinto.
Galan has increased HMW’s mineral resource to 8.6 Mt contained LCE @ 859 mg/L lithium (previously 7.3 Mt LCE @852 mg/L lithium), one of the highest grade resource estimates declared in Argentina. HMW’s measured resource is now at 4.7 Mt contained LCE @ 866mg/L lithium. Inclusion of the Catalina tenure adds ~1.3 Mt LCE to the HMW resource.
The pilot plant at HMW has validated the production of lithium chlorine concentrate, adding reagents to eliminate impurities, and generating a concentrate at 6 percent lithium. The plant comprises pre-concentration ponds, a lime plant, a filter press and concentration ponds.
Pilot Plant at HMW
Construction for Phase I has already commenced for 5.4 ktpa LCE production at HMW, and aims to deliver lithium chloride production in H2 2025. The fourth long-term pumping test (PBRS-03-23) results at HMW record an outstanding lithium mean grade of 981 mg/L - the highest reported grade from a production well in the Hombre Muerto Salar.
In October 2024, Galan announced 45 percent project completion with pond construction at 76 percent and project execution is advancing as planned.
A definitive feasibility study (DFS) for phase 2 shows a 20.85 ktpa LCE operation at HMW, targeting high-quality, 6 percent concentrated lithium chloride product (equivalent to 12.9 percent lithium oxide or 31.9 percent LCE) in 2026. The DFS also indicated phase 2 will deliver a post-tax NPV (8 percent) of US$2 billion, IRR of 43 percent and free cash flow of US$236 million per year. Phase 2 provides an exceptional foundation for significant economic upside in phases 3 and 4, targeting 60 ktpa LCE production by 2030.
Galan has entered into a memorandum of understanding with Chengdu Chemphys Chemical Industry Co. for a prepayment offtake agreement. Once a definitive agreement is executed, Chemphys will purchase a total of 23,000 tonnes of lithium carbonate equivalent, as a lithium chloride product, over the first five years of production from Phase 1 of the HMW project.
Chemphys will also provide Galan with a US$40 million offtake prepayment facility to facilitate the continued development of the HMW project.
The company has also signed binding agreements with Authium Limited, establishing a comprehensive funding and offtake package to support initial production at the Hombre Muerto West (HMW) Project. As part of the agreement, Authium will fund, supply, and operate the processing technology at HMW, materially lowering Galan’s upfront capital requirements and ongoing operating costs.
Galan now has 100 percent full ownership of the Catalina tenement that borders the Catamarca and Salta Provinces in Argentina. The newly secured Catalina tenure has a strong potential to significantly add to the existing HMW resource. The tenure also covers the Catalina, Rana de Sal II, Rana de Sal III, Pucara del Salar, Deseo I and Deceo II tenements.
The 100-percent-owned Greenbushes South lithium project is located near Perth, Western Australia, and is three kilometers south of the world-class Greenbushes lithium mine, managed by Talison Lithium. The Greenbushes South tenements can be found along the Donnybrook-Bridgetown Shear Zone geologic structure, which hosts the lithium-bearing pegmatites at the Greenbushes Lithium Mine.
Greenbushes South covers nearly 315 square kilometers, and hosts elevated pathfinder elements with well-defined anomalies adjacent to the property.
Richard Homsany is an experienced corporate lawyer and has extensive board and operational experience in the resources and energy sectors. He is the executive chairman of ASX-listed uranium exploration and development company Toro Energy Limited, executive vice-president of Australia of TSX-listed uranium exploration company Mega Uranium and the principal of Cardinals Lawyers and Consultants, a boutique corporate and energy and resources law firm. He is also the chairman of the Health Insurance Fund of Australia (HIF) and listed Redstone Resources and Central Iron Ore and is a non-executive director of Brookside Energy Homsany’s past career includes time working at the Minera Alumbrera Copper and Gold mine located in the Catamarca Province, northwest Argentina.
Juan Pablo Vargas de la Vega is a Chilean/Australian mineral industry professional with 20 years of broad experience in ASX mining companies, stockbroking and private equity firms. JP founded Galan in late 2017. He has been a specialist lithium analyst in Australia, has also operated a private copper business in Chile and worked for BHP, Rio Tinto and Codelco.
Daniel Jimenez is a civil and industrial engineer and has worked for a world leader in the lithium industry, Sociedad Química y Minera de Chile, for over 28 years. He was the vice-president of sales of lithium, iodine and industrial chemicals where he formulated the commercial strategy and marketing of SQM’s industrial products and was responsible for over US$900 million worth of estimated sales in 2018.
Terry Gardiner has 25 years’ experience in capital markets, stockbroking and derivatives trading. Prior to that, he had many years of trading in equities and derivatives for his family accounts. He is currently a director of boutique stockbroking firm Barclay Wells, a non-executive director of Cazaly Resources, and non-executive chairman of Charger Metals NL. He also holds non-executive positions with other ASX-listed entities.
María Claudia Pohl Ibáñez is an industrial civil industrial engineer with extensive experience in the lithium production industry. Until recently, she worked for world leader in the lithium industry Sociedad Química y Minera de Chile (NYSE:SQM, Santiago Stock Exchange:SQM-A, SQM-B) for 23 years, based in Santiago, Chile. During her time at SQM, she held numerous senior leadership roles including overseeing lithium planning and studies. Ibáñez brings significant lithium project evaluation and operational experience whilst joining the board at a critical juncture in Galan’s journey to becoming a significant South American lithium producer. Since leaving SQM in late 2021, Ibáñez has been managing partner and general manager of Chile-based Ad-Infinitum, a process engineering consultancy, with a specific focus on lithium brine projects under study and development, and the associated project evaluations.
Ross Dinsdale has 18 years of extensive experience across capital markets, equity research, investment banking and executive roles in the natural resources sector. He has held positions with Goldman Sachs, Azure Capital and more recently he acted as CFO for Mallee Resources. He is a CFA charter holder, has a Bachelor of Commerce and holds a Graduate Diploma in Applied Finance.
With compelling economic metrics demonstrated through its new prefeasibility study, Jindalee Lithium’s McDermitt Project presents a strong case for investors to gain exposure to this critical mineral and participate in the global clean energy transition.
Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) is an Australia-based pure-play US lithium company focused exclusively on its 100-percent-owned McDermitt Lithium Project, currently one of the largest lithium deposits in the US, boasting a resource of 21.5 million tons (Mt) of lithium carbonate equivalent (LCE).
Backed by a newly released (November 2024) prefeasibility study (PFS) demonstrating very compelling economics, the McDermitt Project is poised to play a crucial role in meeting North America’s growing lithium demand for the lucrative battery value chain.
As the US continues to transition to energy independence, demand for lithium is expected to exponentially increase. Jindalee’s McDermitt Project, located in southeast Oregon, is a game-changer for North American lithium supply, critical for meeting the demands of the fast-growing electric vehicle, energy storage and defense sectors.
McDermitt also stands to significantly benefit from the US government’s policies and incentives to boost domestic supply of critical resources. In fact, in a move that signifies the US government's support of the McDermitt Lithium Project, the US Department of Energy's Ames National Laboratory signed a Cooperative Research and Development Agreement with Jindalee's subsidiary HiTech Minerals to develop cutting-edge extraction methods for the McDermitt Project. The Ames National Laboratory spearheads the DOE's Critical Materials Innovation Hub.
Key milestones in the US lithium resource space also provide significant insights into the future prospects for Jindalee’s project. Lithium Americas (TSX:LAC), for instance, has received a total of US$945 million investment from General Motors, which will fund the development, construction and operation of the Thacker Pass project in Humboldt County, Nevada. In October 2024 LAC closed a $2.3 billion loan from the US Department of Energy and in April 2025 announced the Final Investment Decision for Thacker Pass following a $250 million investment from Orion Resource Partners.
Another lithium resource developer in Nevada, Australia-based Ioneer (ASX:INR) has closed a US$996 million loan guarantee from the US Department of Energy to finance the development of its flagship Rhyolite Ridge lithium-boron project.
The US government has taken further action to bolster domestic critical mineral production. On 20 March 2025, President Trump issued a significant executive order titled "Immediate Measures to Increase American Mineral Production", underscoring the urgency and strategic imperative of increasing domestic supply chains for critical minerals. This order builds on previous initiatives by fast-tracking the permitting processes, prioritizing access to mineral-rich federal lands, clarifying regulatory frameworks, and mobilizing substantial financial resources – including Defense Production Act (DPA) funds – towards domestic mineral projects.
As one of the largest lithium resources in the US and situated on federal lands, Jindalee’s McDermitt Lithium Project stands to potentially benefit from these accelerated permitting processes and enhanced government support mechanisms. The clear commitment demonstrated by the US administration highlights the critical strategic advantage of domestically located mineral assets such as McDermitt, reinforcing its importance in securing robust domestic supply chains, essential for energy security
These are just a few examples of current market dynamics that point to a rapidly accelerating lithium resource development in the US.
An experienced management team, with the right blend of experience and expertise in geology, corporate administration and international finance, leads Jindalee to fully capitalize on the potential of its assets.
The economic metrics revealed in the PFS paint a compelling picture of the McDermitt Lithium Project's potential:
Production Capacity: The Project is set to produce 1.8 Mt of battery-grade lithium carbonate over its first 40 years, with an annual output forecast of 47,500 tons per annum (tpa) in the initial 10 years, tapering to 44,300 tpa over the first 40 years.
Financial Metrics: The Project boasts a net present value (NPV) of US$3.23 billion at an 8 percent discount rate, with an internal rate of return (IRR) of 17.9 percent. These figures underscore the Project’s strong economic viability.
Payback Period: Investors can expect a payback period of less than five years, a relatively short timeframe for a project of this magnitude.
Break-even Price: The break-even NPV price is approximately US$14,600/t of lithium carbonate, providing a buffer against market fluctuations.
The PFS estimates a total project cost of US$3.02 billion, which includes a prudent 21 percent contingency margin. This substantial investment is balanced by impressive profitability projections, including an EBITDA margin of 66 percent generating post-tax free cash flow of US$6.6 billion during the first decade of operations. With a pre-tax net operating cashflow margin of 17 percent at current spot prices, McDermitt shows strong cash generation potential.
These financial indicators suggest that McDermitt is not only economically viable but potentially highly profitable, positioning it as an attractive prospect for investors and strategic partners alike.
The McDermitt Project is located in Malheur County on the Oregon-Nevada border and is approximately 35 kilometres west of the town of McDermitt. The 100-percent-owned asset covers 54.6 square kilometres of claims at the northern end of the McDermitt volcanic caldera.
The Project is characterized by its unique sedimentary lithium deposits, primarily composed of lithium-bearing clays, a geological formation that sets McDermitt apart from many other lithium projects worldwide. This sedimentary nature of the deposit offers several advantages:
The lithium-rich clays at McDermitt are part of a broader geological context that includes volcanic tuffs and sedimentary rocks. This geological setting is indicative of a complex depositional history, which has resulted in the concentration of lithium in economically viable quantities.
The 2023 mineral resources estimate (MRE) for the McDermitt Project contains a combined indicated and inferred mineral resource inventory of 3 billion tons at 1,340 parts per million (ppm) lithium for a total of 21.5 Mt LCE at 1,000 ppm cut-off grade.
Ian Rodger is a qualified mining business executive with almost 15 years of experience in various roles including as a mining engineer for Rio Tinto across two large greenfield mine developments, before successfully transitioning into mining corporate finance where he held Executive and Director positions at RFC Ambrian overseeing origination and management of numerous mandates across a range of corporate advisory roles. Rodger was the project director for Oz Minerals (ASX:OZL) where he made significant contributions to successfully define the value potential of the West Musgrave nickel/copper province through the delivery of a portfolio of growth studies. Most notably, he led technical, market and partnership development workstreams, successfully confirming value potential for producing an intermediate Nickel product for the battery value chain.
Rodger holds a Bachelor of Mining Engineering from the University of Queensland, a Masters of Mineral Economics from Curtin University and is also a graduate of the Australian Institute of Company Directors and member of the Australasian Institute of Mining and Metallurgy.
Lindsay Dudfield is a geologist with over 40 years of experience in multi-commodity exploration, primarily within Australia. He held senior positions with the mineral divisions of Amoco and Exxon. In 1987, he became a founding director of Dalrymple Resources NL and spent the following eight years helping acquire and explore Dalrymple’s properties, leading to several greenfield discoveries. In late 1994, Lindsay joined the board of Horizon Mining NL (Jindalee Lithium’s predecessor) and has been responsible for managing Jindalee Lithium since inception. Lindsay is a member of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists, the Geological Society of Australia and the Society of Economic Geologists. He is also a non-executive director of Jindalee spin-out companies Energy Metals (ASX:EME), Dynamic Metals (ASX:DYM) and Alchemy Resources (ASX:ALY).
Wayne Zekulich was appointed to the board as Chair on 1 February 2024. He holds a Bachelor of Business and is a fellow of the Institute of Chartered Accountants. Zekulich is a consultant and non-executive director who has substantial experience in advising, structuring and financing transactions in the infrastructure and resources sectors. He was previously the head of Rothschild in Perth, chief financial officer of Gindalbie Metals Limited, chief development officer of Oakajee Port and Rail and a consultant to a global investment bank. Currently, he is chair of Pantoro (ASX:PNR) and non-executive director of the Western Australian Treasury Corporation. In the not-for-profit sector, he is the past chair of the Lester Prize and is a mentor in the Kilfinan program.
Darren Wates is a corporate lawyer with over 23 years of experience in equity capital markets, mergers and acquisitions, resources, project acquisitions/divestments and corporate governance gained through private practice and in-house roles in Western Australia. Wates is the founder and principal of Corpex Legal, a Perth-based legal practice providing corporate, commercial and resources related legal services, primarily to small and mid-cap ASX listed companies. In this role, he has provided consulting general counsel services to ASX listed company Neometals (ASX:NMT), having previously been employed as legal counsel of Neometals. Wates holds Bachelor's degrees in Law and Commerce and a Graduate Diploma in Applied Finance and Investment.
Paul Brown has over 23 years of experience in the mining industry, most recently with Mineral Resources (ASX:MIN) where he was chief executive – lithium, and chief executive – commodities. Brown has held senior operating roles with Leighton, HWE and Fortescue (ASX:FMG) and has a strong track record in technical leadership, project/studies management, and mine planning and management. Brown is currently CEO of Core Lithium (ASX:CXO). He holds a Master in Mine Engineering.
Executing a well-defined project development strategy for its lithium assets and advancing Direct Lithium Extraction (DLE), CleanTech Lithium is poised to become a key player in an expanding batteries market.
CleanTech Lithium (AIM:CTL,FWB:T2N) is a resource exploration and development company with four lithium assets with an estimated 2.72 million tons (Mt) of lithium carbonate equivalent (LCE) in Chile, a world-renowned mining-friendly jurisdiction. The company aims to be a leading supplier of ‘green lithium’ to the electric vehicle (EV) market, leveraging direct lithium extraction (DLE) – a low-impact, low-carbon and low-water method of extracting lithium from brine.
Lithium demand is soaring as a result of a rapidly expanding EV market. One study estimates the world needs 2 billion EVs on the road to meet global net-zero goals. Yet, the gap between supply and demand continues to widen. As the world races to secure new supplies of critical minerals, Chile has emerged as an ideal investment jurisdiction with mining-friendly regulations and a skilled local workforce to drive towards a clean green economy. Chile is already the biggest supplier of copper and second largest supplier of lithium.
With an experienced team in natural resources, CleanTech Lithium holds itself accountable to a responsible ESG-led approach, a critical advantage for governments and major car manufacturers looking to secure a cleaner supply chain.
Laguna Verde is at pre-feasibility study stage targeted to be in ramp-up production from 2027. Laguna Verde has a JORC resource estimate of 1.8 Mt of lithium carbonate equivalent (LCE) while Viento Andino boasts 0.92 Mt LCE, each supporting 20,000 tons per annum (tpa) production with a 30-year and 12-year mine life, respectively. The latest drilling programme at Laguna Verde finished in June 2024, results from which will be used to convert resources into reserves.
The lead project, Laguna Verde, will be developed first, after which Veinto Andino will follow suit using the design and experience gained from Laguna Verde, as the company works towards its goal of becoming a significant green lithium producer serving the EV market.
The company is carrying out the necessary environmental impact assessments in partnership with the local communities. The indigenous communities will provide valuable data that will be included in the assessments. The Company has signed agreements with the three of core communities to support the project development.
DLE Pilot Plant Inauguration event held in May 2024 with local stakeholders and indigenous communities in attendance
The company also has two prospective exploration assets - the Llamara project and Salar de Atacama/Arenas Blancas project. Llamara project is a greenfield asset in the Antofagasta region and is around 600 kilometers north of Laguna Verde and Veinto Andino. The project is located in the Pampa del Tamarugal basin, one of the largest basins in the Lithium Triangle.
Salar de Atacama/Arenas Blancas comprises 140 licenses covering 377 sq km in the Salar de Atacama basin, one of the leading lithium-producing regions in the world with proven mineable deposits of 9.2 Mt.
CleanTech Lithium is committed to an ESG-led approach to its strategy and supporting its downstream partners looking to secure a cleaner supply chain. In line with this, the company plans to use renewable energy and the eco-friendly DLE process across its projects. DLE is considered an efficient option for lithium brine extraction that makes the least environmental impact, with no use of evaporation ponds, no carbon-intensive processes and reduced levels of water consumption. In recognition, Chile’s government plans to prioritize DLE for all new lithium projects in the country.
CleanTech Lithium’s pilot DLE plant in Copiapó was commissioned in the first quarter of 2024. To date, the company has completed the first stage of production from the DLE pilot plant producing an initial volume of 88 cubic metres of concentrated eluate – the lithium carbonate equivalent (LCE) of approximately one tonne over an operating period of 384 hours with 14 cycles. Results show the DLE adsorbent achieved a lithium recovery rate of approximately 95 percent from the brine, with total recovery (adsorption plus desorption) achieving approximately 88 percent. The Company’s downstream conversion process is successfully producing pilot-scale samples of lithium carbonate . As of January 2025, the Company is producing lithium carbonate from Laguna Verde concentrated eluate at the downstream pilot plant - recently proven to be high purity (99.78 percent). Click for highlights video.
CTL’s experienced management team, with expertise throughout the natural resources industry, leads the company toward its goal of producing green lithium for the EV market. Expertise includes geology, lithium extraction engineering and corporate administration.
The 217 sq km Laguna Verde project features a sq km hypersaline lake at the low point of the basin with a large sub-surface aquifer ideal for DLE. Laguna Verde is the company’s most advanced asset.
CleanTech Lithium’s second-most advanced asset covers 127 square kilometers and is located within 100 km of Laguna Verde, with a current resource estimate of 0.92 Mt of LCE, including an indicated resource of 0.44 Mt LCE. The company’s planned second drill campaign aims to extend known deposits further.
The Llamara project is one of the largest greenfield basins in the Lithium Triangle, covering 605 square kilometers in the Pampa del Tamarugal, one of the largest basins in the Lithium Triangle. Historical exploration results indicate blue-sky potential, prompting the company to pursue additional exploration.
The project comprises 140 licences covering 377 sq km in the Salar de Atacama basin, a known lithium region with proven mineable deposits of 9.2 Mt and home to two of the world’s leading battery-grade lithium producers SQM and Albermarle. Following the granting of the exploration licences in 2024, the Cleantech Lithium is designing a work programme for the project
Steve Kesler has 45 years of executive and board roles experience in the mining sector across all major capital markets including AIM. Direct lithium experience as CEO/director of European Lithium and Chile experience with Escondida and as the first CEO of Collahuasi, previously held senior roles at Rio Tinto and BHP.
Ignacio Mehech brings over a decade of senior leadership experience in the lithium and mining sectors. During his seven-year tenure at Albemarle—the world’s largest producer of battery-grade lithium—he spent the last three years as Country Manager in Chile, overseeing a workforce of 1,100 and managing critical relationships with government, indigenous communities, and other key stakeholders. Mehech brings deep expertise in lithium project development, regulatory engagement, and sustainability. He has led high-profile engagements with global investors, customers, NGOs, analysts, scientists, and international governments. He also played a key leadership role in the El Abra copper operation—a joint venture between Codelco and Freeport-McMoRan—where he led the legal strategy and contributed to corporate transformation initiatives. Mehech holds a law degree from the Universidad de Chile and a Master’s in Energy and Resources Law from the University of Melbourne.
Gordon Stein is a commercial CFO with over 30 years of expertise in the energy, natural resources and other sectors in both executive and non-executive director roles. As a chartered accountant, he has worked with start-ups to major companies, including board roles of six LSE companies.
Maha Daoudi has more than 20 years of experience holding several Board and senior-level positions across commodities, energy transition, finance and tech-related industries, including a senior role with leading commodity trader, Trafigura. Daoudi holds expertise in offtake agreements, developing international alliances and forming strategic partnerships.
Tommy McKeith is an experienced public company director and geologist with over 30 years of mining company leadership, corporate development, project development and exploration experience. He's held roles in an international mining company and across several ASX-listed mining companies. McKeith currently serves as non-executive director of Evolution Mining and as non-executive chairman of Arrow Minerals. Having worked in bulk, base and precious metals across numerous jurisdictions, including operations in Canada, Africa, South America and Australia, McKeith brings strategic insights to CTL with a strong focus on value creation.
Jonathan Morley-Kirk brings 30 years of experience, including 17 years in non-executive director roles with expertise in financial controls, audit, remuneration, capital raisings and taxation/structuring.
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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