https://www.miningweekly.com

LSC to acquire Alqa Lihtium, add 2 595 ha in the Salar de Salinas Grandes

23rd November 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – Lithium exploration junior LSC Lithium has entered into a binding contract to acquire all of the outstanding equity of Alqa Lithium, which owns a 100% stake in the Mina Teresa project that comprises 2 595 ha in the Salar de Salinas Grandes, in Jujuy province, Argentina.

Under terms of the acquisition agreement, LSC will pay Alqa $2-million in cash in three instalments.

The TSX-V-listed company LSC Lithium has amassed a significant portfolio of about 300 000 ha covering prospective lithium-rich salars – or salt flats – and is focused on developing its tenements located in five salars: Pozuelos, Pastos Grandes, Rio Grande, Salinas Grandes, and Jama. All LSC tenements are located in the ‘Lithium Triangle’, an area at the intersection of Argentina, Bolivia and Chile, where the world's most abundant lithium brine deposits are found.

According to LSC, Mina Teresa is strategically located immediately next to its tenements Cristina, San José and Mahoma. Following the transaction, LSC's land package on the Salar de Salinas Grandes will total 37 910 ha and represent more than 50% of the salar surface.

The transaction is expected to close by year-end.

LSC also announced that it has been given approval to start its exploration programme on the San José and Navidad concessions, located in the Salinas Grandes salar. These concessions cover a total area of 4 300 ha and are part of a joint venture with fellow TSX-listed Dajin Resources.

LSC said it is now designing an exploration programme to investigate the presence of lithium bearing brine and lithologies on the property. This includes evaluating and integrating historical data into the exploration target model. Thereafter, the programme will potentially include geological mapping, surface sampling, a geophysical data acquisition phase and a drilling phase to confirm the target generation results and potentially deliver a Canadian National Instrument 43-101-compliant mineral resource for the property.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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