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Argentina Lithium & Energy Corp. (TSXV: LIT.V) has announced the expansion of its Rincon West and Antofalla North projects through the acquisition of two new mining concessions in northwestern Argentina. The Don Fermin and Lexi-30 properties add significant hectares to the company’s lithium brine exploration portfolio.
Strategic Expansion of Lithium Projects
Argentina Lithium has secured a 100% interest in the Don Fermin property, adding 1456 hectares to the Rincon West Project, now totaling 5198.8 hectares. The Lexi-30 property increases the Antofalla North Project by 789 hectares, bringing the total to 16,619.5 hectares.
Advanced Exploration Techniques
CEO Nikolaos Cacos emphasizes the company’s commitment to enhancing its top-tier projects. Advanced geophysics will identify brine aquifers, with subsequent drilling and pump tests to assess lithium potential.
Strategic Location and Terms
Don Fermin is strategically located near Rio Tinto’s and Argosy Minerals’ projects. Lexi-30, adjacent to Albemarle Corporation’s project, has undergone TEM surveys but not drilling. The option agreements involve cash payments and Net Smelter Royalties, with terms allowing the company to repurchase NSRs.
Commitment to Lithium Demand
With the backing of Stellantis N.V., Argentina Lithium is poised to advance its projects to meet the surging demand for lithium in the battery sector. The company is part of the Grosso Group, with a strong track record in Argentina’s resource sector.
This news release contains forward-looking statements subject to risks and uncertainties. The company’s actual results may differ materially from those anticipated.
Company Website: https://argentinalithium.com
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