Alset to Submit Santa Clara, Caliguey Drilling Permits

Alset Energy Corp. (TSXV:ION) has provided an update regarding continuing work encompassing resizing the concessions, as well as permitting efforts on the company’s Mexican lithium salar projects.
The largest concession, Sutti 19, located in the state of San Luis Potosi, Mexico, is currently being split into 18 smaller concessions that will result in the reduction of annual work requirements required by the Mexican government, but without any loss of ground. Concession Sutti 19 covers approximately 8,776 hectares and will be split into 18 separate new contiguous concessions with a maximum of 500 hectares each. The total amount of hectares will remain unchanged; however, the expenditures required by the Mexican government will be drastically reduced (see press release dated Oct. 4, 2016). Surveying monuments were erected to facilitate this work and were completed by the company’s team of consultants in Mexico. The paperwork associated with this effort is currently being finalized and will be submitted to the requisite Mexican authority promptly. The Sutti 19 concession currently covers numerous salars including Caliguey and Santa Clara. Caliguey was a historical table salt operation that returned high lithium values from 1.2 per cent to 2.1 per cent lithium in four samples of fluid collected on the surface of the property by the Mexican government in 1992 (see press release dated Sept. 1, 2016).
In addition, the company has moved ahead on the drill permitting and is on schedule for drilling in the first quarter of 2017. To date, the permit for drilling at La Salada, located in Zacatecas state, Mexico, has been submitted, and the permit for Santa Clara and Caliguey will also be submitted within the next few weeks.
Allan Laboucan, president and chief executive officer of Alset Energy, said: “One of our near-term project initiatives of resizing the concessions is well under way. With our largest concession completed, we can now continue with the reduction followed by splitting into smaller parcels of Sutti 22 as it remains advantageous and cost-effective to do so. We are progressing expeditiously with our ongoing drill permitting and we are awaiting results from the laboratory for samples recently submitted that will provide us with insight into grade and recovery of lithium.”
Clinton Barr, PGeo, vice-president of exploration for Alset Energy, is the qualified person responsible for this release and has prepared, supervised and approved the preparation of the scientific and technical disclosure contained within the release.
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