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Advantage Lithium to Acquire Interest in 4 Lithium Brine Projects in Mexico
Sep. 12, 2016 10:10AM PST
Battery Metals
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 12, 2016) – Advantage Lithium Corp. (the “Company” or “Advantage Lithium”) (TSXV:AAL) has entered into letter of intent (the “LOI”) with Radius Gold Inc. (“Radius”) pursuant to which the Company has acquired an option to earn up to a 70% interest in three lithium brine exploration projects (the “Projects”) located in Chihuahua, Northwest Mexico from Radius Gold Inc.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 12, 2016) – Advantage Lithium Corp. (the “Company” or “Advantage Lithium“) (TSXV:AAL) has entered into letter of intent (the “LOI”) with Radius Gold Inc. (“Radius”) pursuant to which the Company has acquired an option to earn up to a 70% interest in three lithium brine exploration projects (the “Projects”) located in Chihuahua, Northwest Mexico from Radius Gold Inc.
Project Highlights
- The four projects covering a total of approximately 37,000 hectares and held by claim applications are located in the states of Chihuahua (La Union, La Union 2 and Santa Maria) and Coahuila (La Viesca)
- All projects are located in large, salar closed basins, in geological settings analogous to the Clayton Valley Basin, Nevada host of Albemarle’s Silver Peak lithium producing mine operation
- Historic work in the area by the Mexican Geologic Survey included a 1982 drill hole at La Union which returned a brine sample of 283 ppm Li
- Radius conducted controlled surface samples which resulted in numerous anomalous lithium results including 189ppm Li at La Viesca
- Region is underexplored
- Mexico is considered a mining friendly supportive jurisdiction. The area has excellent infrastructure and is road accessible, leading to potentially low exploration costs
Key geographical highlights similar to Clayton Valley and/or associated with brine deposits
- Located in a desert climate with historic evaporate ponds.
- Large closed basin salar targets
- Geothermal hotsprings observed at La Union and Viesca salars
- Suitable lithium source-rocks
- Subsurface highly saline aquifers described in historic data
- Basin formation post Tertiary
David Sidoo, President and Director, of Advantage Lithium, commented: “We are extremely pleased with these lithium brine projects. They are in a closed basin with salar targets and surface-level lithium – directly analogous to Clayton Valley. The region has seen little prior exploration and is an ideal setting for our technical team, which includes the award-winning geologist, Ross McElroy, who has a track record of making major discoveries in underexplored areas. We are looking forward to working with Radius to close the agreement and begin active exploration.”