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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 holdings, enhancing its exploration potential for lithium in brines.
Strategic Project Expansion
Argentina Lithium has secured the Don Fermin property, adding 1456 hectares to the Rincon West Project, now totaling 5198.8 hectares. Similarly, the Lexi-30 property increases the Antofalla North Project to 16,619.5 hectares. These acquisitions position the company adjacent to major players like Rio Tinto and Albemarle Corporation, signaling strong growth prospects.
Advancing Exploration Efforts
CEO Nikolaos Cacos emphasizes the company’s commitment to integrating these areas into their exploration programs. Advanced geophysics and drilling are planned to assess the potential for lithium-rich brines. With financial backing from Stellantis, Argentina Lithium is well-equipped to explore and develop these promising salar properties.
Option Agreement Terms
The company has outlined the terms of the option agreements, which include cash payments and the retention of Net Smelter Royalties (NSR) by the vendors, with provisions for the company to repurchase the NSR.
Commitment to Quality and Compliance
Frits Reidel, CPG, has reviewed and approved the disclosure in this news release, ensuring adherence to National Instrument 43-101 standards. Argentina Lithium continues to focus on acquiring and advancing high-quality lithium projects to meet the surging demand from the battery sector.
The company cautions that proximity to other mining operations does not guarantee mineralization on its property, and if it occurs, that it will be economically viable.
This news release includes forward-looking statements subject to risks and uncertainties that could affect the company’s actual results. Investors are advised to refer to the company’s public disclosure documents for a detailed discussion of these factors.
Company Website: https://argentinalithium.com
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