VANCOUVER, British Columbia, Oct. 30, 2024 (GLOBE NEWSWIRE) — AMERICAN SALARS LITHIUM INC. (“AMERICAN SALARS” or the “Company”) (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY) announced. is an independent company acquiring 100% of the Lac Simard South project, comprising 3,672.75 hectares covering 64 claim blocks adjacent to Sayona Mining Limited (ASX:SYA) and Refined Metals Corp. We have concluded a mineral claim purchase agreement (hereinafter referred to as the “Agreement”) with a company. (CSE: RMC) “Lac Simard” property (Ref. Report GM 36797, 1980) sampling 2.1% lithium (4.52% lithium oxide Li2O) and 5.88% tantalum oxide (Ta2O5).
The 100%-owned Lac Simard South project is located 80 km southwest of Sayonnat’s “Autier” lithium project, straddling the townships of Beauneville, Clerion, Delbreuil and Chabert-It, and is a gravel road off Route 117 near the city of Cadillac. It can be accessed at Eastern claims are accessed by a network of logging roads. The southern and western sectors are accessible by boat or all-terrain vehicle and are largely free of sediment.
The Company begins planning a comprehensive program of work to identify targets and test areas of immediate interest in mining-rich Québec’s active lithium exploration, production and processing region. It’s planned. The Abitibi hub, consisting of Sayona Mining Limited’s North American Lithium, Autier Lithium and Tansim Lithium projects, is located nearby and is Quebec’s largest lithium resource, with a 1.14% lithium rated 111 million yen. The total amount of resources, which is an astonishing 10,000 tons, is measured and displayed.
Figure 1. Areas of immediate interest
Click here to view image
This lithium hub is more accessible than James Bay, allows for relatively low-cost exploration, and the region has a fully operational lithium concentrator and a planned lithium carbonate/lithium hydroxide conversion plant. , reducing the need for redundant downstream processing solutions and capital expenditures. An event of economic discovery.
R. Nick Horsley, CEO and Director of American Salars, said: The company’s long-term belief in the recovery of lithium prices is unwavering, and now is the time to build a multi-jurisdictional lithium company. ”
Figure 2. Lac Simard southern region map
Click here to view image
Figure 3. Lac Simard South Claim Map
Click here to view image
property geology
Beneath the property of Lac Simard South is the large monzodiorite rock of Lac Simard Sud. This deep stone is pinkish-gray and composed of plagioclase, potassium feldspathic amphibole, and small amounts of epidote and quartz. Quartz-monzodiorite dykes and cobblestones are observed at the margin of this intrusion. The Ni-Cu Laforce prospect, explored by Kerr Addison Gold Mines Ltd. and more recently by Fieldex Exploration (2007), is located approximately 1 km south of the property and is underlain by a large granite bedrock intrusion. I’m doing it. This specimen, investigated by Kerr Addison Gold Mines, is located in a clast of amphibolite surrounded by pink granite, but not far from the western edge of the deep granite. This rock is composed of gray feldspathic amphibole, which makes up 40 to 90% of the rock.
transaction
American Salars has entered into an agreement with Quebec-based Quartier Mineral Ltd. to acquire a 100% interest in the Lac Simard South project by issuing 50,000 common shares to the vendor.
Additional projects are currently under consideration and further disclosure will be made upon completion of due diligence and closing of the transaction.
American Salars’ management cautions that historical results and discoveries with respect to properties proximate to American Salars may not necessarily indicate the presence of mineralization on our properties.
Qualified person
Mitchell Lavery, P.Geo NI 43-101 Qualified Person (QC) as defined in the Regulations has reviewed the technical information forming the basis of The Lac Simard portion of this news release and has made the disclosures herein. Approved.
American Salars’ global lithium portfolio consists of two advanced lithium resources in Argentina and a developed U.S. lithium asset in Nevada.
Our existing lithium deposit portfolio includes two NI 43-101 compliant estimates consisting of 457,000 tonnes of lithium carbonate equivalent (“LCE”) and shared deposits at the Candela 2 Lithium Brine Project (“Candela”) Contains a Mineral Resource Estimate (“MRE”). The MRE of the Pocytos 1 Lithium Brine Project (“Pocytos”), consisting of 760,000 tonnes of LCE. Although the Pocitos MRE is shared with the adjacent Pocitos 2, which is not contracted or owned by USLI, we note that the drilling that forms the partial base of the MRE has not occurred in the Pocitos 2 field. That is important. Both saltwater projects are located in Argentina’s Salta province.
Recently, mining giant Rio Tinto made further investments in Argentina, acquiring Argentine lithium producer Arcadium Lithium for US$6.7 billion in an all-cash deal, making Rio Tinto the third largest lithium miner in the world. It became.
About Pocytos 1 Lithium Deposit
WSP Australia was first written by Philip Thomas QP in June 2023 and is based on inference using block models and mineral resource estimates with porosity of 6% and 14% for claystones and sandstones respectively. Completed update of estimated NI 43-101 report. The combined land of Pocitos 1 (800 hectares) and the adjacent Pocitos 2 concession (532 hectares) will store 760,000 tonnes of lithium carbonate equivalent (“LCE”) (“MRE”). Although American Salars does not own the adjacent Pocitos 2 property, which makes up 40% of the total land package comprising the resource, it is noted that all drilling to date has been completed on American Salars’ Pocitos 1 property. worth it.
The Pocitos 1 project is located approximately 10 kilometers from the town of Pocitos with gas, electricity and accommodation facilities. Pocitos 1 is approximately 800 hectares (1,977 acres) and is accessible by road. Joint exploration since 2017 has totaled more than US$2 million in project development, including surface sampling, trenching, TEM and MT geophysics, and drilling of three wells with excellent brine flow results. Ta. Based on the latest MT survey, immediate follow-up drilling locations have already been identified for future exploration.
A lithium value of 169 ppm from the PCT22-03 packer test in the drill hole analyzed from laboratory analysis conducted by Alex Stewart was recorded during the project’s December 2022 drill campaign. The packer sampling system was used in the headquarters diamond drill holes drilled to depths of up to 409 meters. Brine flow was observed to continue for more than 5 h, and all holes exhibited exceptional brine flow rates. An NI 43-101 update report completed by WSP Australia has been released for the Pocitos 1 project.
Ekosolve Ltd., a DLE technology company, was able to produce lithium carbonate with a purity of 99.8%, and the extraction was over 94% of the lithium present in the brine. This means that 169ppm to 158.86ppm of lithium was recovered.
Figure 4. Drilling at the Pocitos 1 Lithium Brine Project (Salta, Argentina)
Click here to view image
About the Candela II lithium deposit
The Candela II lithium deposit is located at the southernmost, lowest point of the Salar de Incahuasi in Argentina’s Salta province. Candela II is located approximately 45 kilometers from the town of Tlar Grande and 267 kilometers from Salta, near advanced and famous lithium salt fields such as Arizaro (Lithium Chile) and Pocitos (Hanaq). The Cerro Aracar, Medina and Prall volcanoes supply lithium to the Salar de Incahuasi through their aquifers.
The Candela II Lithium Brine Project includes a National Instrument 43-101 Mineral Resource Estimate (“MRE”) completed by WSP Australia Pty. Ltd. (see Spey Resources Corp. news dated September 26, 2023). reference). This NI 43-101 resource report estimates that the project will contain 86,000 tonnes of lithium metal, equivalent to 457,500 tonnes of in-situ lithium carbonate equivalent (LCE), and 9,000 tonnes of lithium metal to 48,000 tonnes. will be the lithium yield of LCE. The calculation assumes no losses due to lithium metal and an average porosity updated in the next drilling stage.
Figure 5. Candela II Lithium Brine Project 2022 Roads (Salta, Argentina)
Click here to view image
Qualified person
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV) is a Qualified Person as defined in the NI 43-101 Regulation and the technical information underlying some of this news release regarding real estate in Argentina reviewed. has approved disclosure here. Mr. Thomas is a shareholder in American Sallers’ lithium stock.
Mitchell Lavery, P.Geo National Instrument 43-101 A Qualified Person within the meaning of the Disclosure Standards for Mineral Projects, has reviewed and approved the scientific and technical information relating to the Quebec Properties contained in this press release.
About American Salars Lithium Inc.
American Salars Lithium is an exploration company focused on exploring and developing high-value battery metals projects that meet the demands of the evolving electric vehicle market. The company’s Pocitos 1 and Candela II lithium salt projects in Argentina both feature NI 43-101 inferred resources.
We encourage all interested parties to follow us on our social media profiles: LinkedIn, Twitter, TikTok, Facebook, and Instagram.
On behalf of the Board of Directors,
“R. Nick Horsley”
R. Nick Horsley, CEO
For more information, please contact us below.
American Salars Lithium Inc.
Phone: 604.740.7492
Email: info@americansalars.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer regarding forward-looking information
Certain statements in this release are forward-looking statements and reflect management’s expectations regarding American Salar’s intent to continue to identify potential transactions and make certain corporate changes and adoptions. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations and intentions regarding the future. Such statements involve risks and uncertainties that could cause actual results, performance or developments to differ materially from those contained in the statements. There can be no assurance that the events anticipated by the forward-looking statements will actually occur or, if they do, what benefits U.S. salaried employees will derive from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions that may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by forward-looking statements, including the results of exploration or consideration of properties actually acquired by American Salars . These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements or if actual results differ from the forward-looking statements, except as follows: We are not obligated to update any reasons why the information differs from those anticipated. Comply with applicable securities laws.
