- >14,000 ha of claims/reservations on Antofalla Salar
- Located in the mining-friendly province of Salta
- Accessible by provincial highway and unpaved roads
- Other land holders on the salar include global lithium producer Abermarle
About the Project
The Project includes over 14,000 hectares on the Salar de Antofalla in Salta Province, Argentina. This includes a 100% interest in approximately 9,000 hectares of mining claims in the north end of the Salar de Antofalla (“Staked Properties”) and an option agreement to earn a 100% interest in three additional properties totaling over 5,300 hectares (“Optioned Properties”) situated adjacent to the Staked Properties.
The geological environment at the Salar de Antofalla is similar to other salars in the Puna region where lithium and potash are found. Several other companies are exploring properties on the salar, including global lithium producer Abermarle. Reported grades from the salar include 350 mg/l lithium and 6,400mg/l potash (https://roskill.com/news/lithium-albemarle-expands... accessed 3/5/18) .
These facts were used to help prioritize the acquisition of these properties. The reader is cautioned that that proximity to a discovery, past-producing mine, or mineral resource, does not indicate that mineralization will occur on the Company’s property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario. Results from other companies are not indicative of expected Argentina Lithium’s results, as there has been insufficient exploration on the properties by Argentina Lithium.
Location & Infrastructure
The Salar de Antofalla is approximately 150 kilometres long and 5-7 kilometres wide, and is situated at 3,900 metres elevation. The salar is accessed by Provincial highway 43 and unpaved roads, with the small town of Antofalla approximately 50 kilometres to the south and the city of Salta approximately 500 kilometes away.
The Company expects to announce an exploration program in the second half of 2018.
The Optioned Properties include two granted mine concessions and a third mine application. Terms of the option include cash payments totaling US$3,500,000 over 42 months, but limited to only $500,000 in the first 18 months.The option also includes annual exploration expenditure commitments of $500,000 in year one, followed by $1.5M in year two, $2.0M in year 3 and $3.0M in year 4.