https://www.miningweekly.com

Millennial swoops in on Argentina lithium prospect

3rd February 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – TSX-V-listed Millennial Lithium has signed a definitive option agreement to acquire the prospective Pocitos West project, in Argentina.

Pocitos West is next to ground recently acquired by fellow TSX-V-listed explorer Pure Energy Minerals and is near known lithium resources, including the Rincon project located 32 km to the north and the Sal De Vida project, 90 km to the south.

The option may be exercised within three years by making a total of $4.5-million in payments for a 100% interest in the project.

Pocitos West is located 160 km from Salta, and about 40 km due west of Millennial's flagship Pastos Grandes project, where recent drilling has confirmed significant lithium brines from surface to depths of 400 m. Pocitos West is directly accessible by Salta Provincial Highway 17 and close to other high-quality regional and site infrastructure including local labour, rail and power generation.

The 60-m-long Pocitos salar basin was previously drill tested by 12 shallow holes in 1979 by an Argentine government agency. The most significant result from the historical work programme includes a shallow drill hole, which averaged 417 parts per million (ppm) lithium and 15 300 ppm potassium.

In 2010, Li3 Energy announced the results of 46 brine samples taken from just below the surface of the salar, with brine assays ranging from 300 ppm to 600 ppm lithium. These samples were taken immediately east of the Pocitos West property. Previous geophysical studies conducted by Li3 Energy also demonstrated the Pocitos basin, where sampled, is about 500 m deep and that the prospective brine target is open and extends westward toward the Pocitos West property, the company said.

The news boosted Millennial’s TSX-V-listed stock, which closed up 11.73% at C$1.81 apiece on Thursday.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 
Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.044 0.779s - 110pq - 2rq
Subscribe Now