Mammoth Energy Group Signs First Letter of Intent to Acquire Lithium Concessions of Salt Gold Inter Chile Limitata of Chile

- August 3rd, 2010

Mammoth Energy Group Inc. (PINKSHEETS: MMTE) announced that it has signed a Letter of Intent to acquire forty-nine percent (49%) of the outstanding stake of Salt Gold Inter Chile Limitata’s concessions in the Salar de Maricunga located in the Atacama desert near Copiapo, Chile.

Mammoth Energy Group Inc. (PINKSHEETS: MMTE) announced that it has signed a Letter of Intent to acquire forty-nine percent (49%) of the outstanding stake of Salt Gold Inter Chile Limitata’s concessions in the Salar de Maricunga located in the Atacama desert near Copiapo, Chile.

The press release is quoted as saying:

Salt Gold Inter Chile Limitata lithium concessions consist of 1008 acres in the Salar de Maricunga. Preliminary results of drilling and chemical analysis from its project under development has returned results and confirmed the presence of lithium — potassium brine bearing aquifers. Brine Concentrations averaged grades of 650 ppm (parts per million) for lithium and 9500 ppm for potassium.

Click here to access the entire press release

Click here to access Mammoth Energy Group Inc. Corporate Site

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