MGX secures option over Argentina lithium brine project
Canadian resources firm MGX Minerals has entered into an option to acquire an 80% interest in the Salinitas lithium brine mining tenements in the lithium triangle of Argentina.
The 4 308-ha contiguous land package resides in the Puna region of north-west Argentina near the border of Chile, an area renowned for its lithium- and potassium-rich brine resources.
MGX has agreed to pay $250 000 to TSX-V-listed AIS Resources to secure the option. The company can acquire an undivided 80% in the project at any time during the agreement by making payments totalling C$3.2-million. MGX has also agreed to incur total expenditures of at least $1.2-million prior to May 31, 2020.
MGX explains that the surface elevation of the Salinas Grandes salar is about 3 400 m above the sea level. The salar forms a composite closed basin with internal drainage, where discharge occurs by evaporation. Water inflow into the salar is produced by precipitation, and superficial groundwater incursions.
MGX plans to conduct a transient electromagnetic method geophysical study along with trenching, which will be followed by a drill programme along the edge of the salar, to test for shallow, near surface brines and determine locations with anomalous concentrations of lithium.
MGX has developed a rapid lithium extraction technology eliminating or reducing the physical footprint and investment in large, multi-phase, lake-sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. The technology is applicable to petrolithium (oil and gas wastewater), natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation