TSX-V-listed Lithium Chile has announced an arm’s length definitive option agreement with fellow-listed Monumental Minerals to earn up to 75% of the 5 200-ha Salar De Laguna Blanca project, near San Pedro de Atacama.
The Laguna Blanca project is located in the lithium triangle, a zone within the central Andes high desert that includes Chile, Argentina and Bolivia. This zone is estimated to contain more than half of the world’s lithium supply beneath its many salt flats.
The property consists of 23 exploration concessions, 100% owned by Lithium Chile through its wholly owned Chilean subsidiary Minera Kairos Chile Limitada. The Laguna project includes both active and paleo salar brines and salts.
"With our energies currently focused on expanding our lithium resource on Salar de Arizaro property in Argentina, this joint venture will ensure work continues on one of our Chilean properties. The experience and expertise Monumental's team gained from working on Advantage Lithium's project in Argentina will be invaluable in advancing the Laguna Blanca project," said president and CEO Steve Cochrane.
To exercise the option to acquire a 75% interest in the Laguna project, Monumental must issue common shares, make certain staged cash payments to Lithium Chile and incur exploration expenditures.