Deals still happening.Special Report: Canadian-listed American Salars is moving to expand its Argentinean portfolio with the signing of a letter of intent to acquire the Cauchari Ines 01 lithium brine project.
The Cauchari project covers about 1235 hectares over part of the 2550km2 Cauchari Salt Lake basin and is known to contain lithium concentrations, with sampling returning up to 383ppm lithium from a depth of 30cm below the salt crust.
It is located about 13km from Rio Tinto’s Rincon salar – an approved US$2.5 billion development that will eventually export 60,000tpa of lithium carbonate – and about 80km from the town of San Antonio de Los Cobres with access provided by existing mining tracks and roads.
There is also immediate proximity to railroads, electricity and gas pipelines.
Cauchari Ines 01 sits within a known geological district with significant lithium and potassium sampling and is near the San Antonio de los Cobres and Pocitos industrial centre.
American Salars (CSE:USLI) chief executive officer Nick Horsley says the potential of this section of the Salar de Cauchari is immense.
“Cauchari is a proven producing salar operated by Exar-Ganfeng & Lithium Argentina that produces battery grade lithium carbonate,” he added.
“The company will look to continue to increase its footprint on the Cauchari and Pocitos lithium projects.”
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