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Rock Tech Lithium Inc. (TSXV:RCK,FWB:RJIA) entered into an Option Agreement with Lithea Inc. and its wholly-owned subsidiary, Lithea Argentina SA to purchase a 100% interest in two lithium brine projects located in the Salar de Incahuasi and the Salar de Pular (the “Option Properties”) in northwest Argentina, encompassing 3,346 hectares in an area that is referred to as the “Lithium Triangle” in South America that covers portions of Argentina, Chile and Bolivia.
Rock Tech Lithium Inc. (TSXV:RCK,FWB:RJIA) entered into an Option Agreement with Lithea Inc. and its wholly-owned subsidiary, Lithea Argentina SA to purchase a 100% interest in two lithium brine projects located in the Salar de Incahuasi and the Salar de Pular (the “Option Properties”) in northwest Argentina, encompassing 3,346 hectares in an area that is referred to as the “Lithium Triangle” in South America that covers portions of Argentina, Chile and Bolivia.
As quoted in the press release:
The tenements (leases) of the Salar de Incahuasi, Mina Sisifo, are comprised of 2,000 hectares and the Salar de Pular, Mina Patilla, are comprised of 1,346 hectares. The Option Properties are accessible from the city of Salta, Argentina via all-season roads. The property at Salar de Incahuasi is some 230 kilometres due west of Salta and 55 kilometres east of the Argentina-Chile border while the property at Salar de Pular is some 275 kilometres due west of Salta along the Argentina-Chile border.
Under the terms of the Option Agreement, Rock Tech has been granted, for a period of 60 days, the exclusive rights to conduct due diligence and fairness opinion that would value the properties at a minimum of $3.5 million USD. Subject to its due diligence and fairness opinion, Rock Tech will enter into a Purchase Agreement with the Vendor. In consideration for the exclusive rights to conduct due diligence and negotiate the potential purchase of the Option Properties, Rock Tech has agreed to place in escrow a CAD$100,000 deposit. Should the Company decide to purchase the Option Properties the acquisition will be subject to the approval of the TSX Venture Exchange.
Rock Tech President and CEO, Eunho Lee, said:
“The potential addition of these lithium brine projects provides valuable diversification for our shareholders. Should the Company decide to enter into a Purchase Agreement upon completion of our due diligence and fairness opinion, our plan is to aggressively develop these assets to bankable feasibility and, ultimately, to production.”
Click here to read the Rock Tech Lithium Inc. (TSXV:RCK,FWB:RJIA) press release
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