Critical Reagent Project Acquired in Argentina
A Vertical Electrical Sounding survey completed on the project has returned better than anticipated initial results. Across the project area a total of eight transects with 15 sounding points has been completed. Management anticipated that the Laguna Santa Maria Project could extend tens of meters in depth. Preliminary results of the V.E.S. survey indicated the depth potential exceeds 280 meters with no sign of basement rock. It would appear from this preliminary result, that the Laguna Santa Maria Project basin has a depth potential for a significant soda ash deposition. Further results from the exploration program are expected in the next week.
Eleven liquid samples and fifteen solid samples have been collected at site by the OZ Li exploration team. The samples have been collected under the supervision of William Feyerabend, CPG, a consulting geologist, and Qualified Person under NI 43-101. All samples are being tested by Alex Stewart Laboratories (ISO Certified) of Mendoza,
Soda Ash Critical to Lithium Carbonate Production
Soda ash is the trade name for sodium carbonate, a chemical refined from the mineral trona or sodium carbonate bearing brines (both referred to as "natural soda ash") or manufactured from one of several chemical processes (referred to as "synthetic soda ash"). The US Geological Survey reports
Soda ash is a "critical reagent" in the production of lithium carbonate with the process requiring two tonnes of soda ash for every tonne of lithium carbonate produced. As reported in La Nacion (an online Argentina News Paper) on January 30, 2023, there is an insufficient local supply of soda ash and importing it has various issues and challenges for present and future lithium carbonate producers in
Project Acquisition
Based upon the results to date, the Company has decided to acquire the Laguna Santa Maria Project. Pursuant to the terms of the purchase option agreement, the Company made the initial payment of
Company Name Change
To better reflect the new direction of the Company, a name change to Critical Reagents Corporation is being undertaken. Shareholders will be further apprised of the name change and new trading symbol in the coming weeks.
The Technical and scientific information contained in this news release was reviewed by Mr. William Feyerabend, CPG, a Consulting Geologist and Qualified Person under NI 43-101. Mr. Feyerabend participated in the production of this news release.
ON BEHALF OF THE BOARD
Adrian Hobkirk
President and CEO
T: 954-684-8040
E: info@ozlithiumcorp.com
W: www.ozlithiumcorp.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE 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.
This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. We seek safe harbor.
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SOURCE Oz Lithium Corporation