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Lithium Corporation holds Placer claims that cover approximately 6400 acres. Locally, the Lithium enriched Tertiary era Fish Lake formation of Rhyolitic tuffs or ash flow tuffs have accumulated in a valley or basinal environment.
Access is excellent in Fish Lake Valley with all weather gravel roads leading to the property from Highways 264 and 265 and maintained gravel roads ring the Playa. Power is available approximately 9 miles (15 km) from the property and the village of Dyer is approximately 12 miles (20 kms) to the south and the town of Tonopah Nevada is approximately 46 miles (75 km) to the East.
Near surface brine sampling in April/May 2011 encountered Lithium/Boron enriched Brines where the best result was 140mg/L Lithium. In addition to these strongly anomalous Lithium values, Boron is also elevated with the highest value to date of 2500 mg/L., and Potassium is also enriched, with the best result being 7200 mg/L. The highest values appear to be confined to an area approximately one-half mile square that is within a larger zone of moderate to highly anomalous Lithium and Boron, which is 1 ½ miles long by 1 mile wide.
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Importantly, there is not just Lithium, but also associated Boron !
Boron is booming in the USA, and the ASX Boron stock "ABR" in the last year has gone from 20 cents to $2.40 - I wish I'd thought of investing in USA Boron a year ago.
Boron is a $7 billion market.
And there is also the potential for Potash via Potassium.
It's always good to have friends, and Altura has had a friend in Lithium Corporation for 9 years, with good working and personal relationships it would seem. The price of the 60%, with the potential to go to 100% seems quite modest, but what are friends for eh!
It's a start, and will permit AJM to be relisted on the ASX, and I'd expect to do a small capital raising only, since the price of this project is low.
Well, ....... here we go again, ...... it looks like the boys are back in town.
