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American Salars Lithium (OTC: USLIF) has announced a significant expansion of its Pocitos Project in Argentina's Lithium Triangle through a Letter of Intent Agreement to acquire up to 100% of the Salar De Pocitos Project. The acquisition adds 13,080 hectares to their existing 800-hectare Pocitos 1 Project, representing a 1,635% increase in property size to 13,880 hectares total.
The company's current Pocitos 1 claim has an NI 43-101 Mineral Resource Estimate of 456,000 tonnes of Lithium Carbonate Equivalent (LCE). Previous drilling at Pocitos 1 yielded lithium values of 169ppm, with Ekosolve 's DLE technology achieving 99.8% purity lithium carbonate and over 94% extraction efficiency.
The acquisition terms include USD $2,000,000 in cash payments, 20,000,000 shares issuance, and a 1% Net Smelter Royalty. The deal will make American Salars the second-largest property holder on the Salar de Pocitos. The project benefits from strategic infrastructure including Provincial Highway Route 17, natural gas pipeline access, and railway connectivity to the Port of Antofagasta.
American Salars Lithium Inc. (CSE: USLI, OTC: USLIF) has entered into a share purchase agreement to acquire a 100% interest in an 18,083-hectare Hardrock LCT Pegmatite Project in Brazil's Jaguaribe/Solonópole region. The Jaguaribe Project has shown promising initial sample discoveries with up to 3.72% Li2O, along with significant rare earth elements and critical minerals.
The property features multiple extensive pegmatite dykes measuring up to 30 meters in width and 300 meters in length. Initial sampling revealed high values of various elements, including 554.5 ppm of Cesium, 135 ppm of Tantalum, and 177 ppm of Niobium. The acquisition terms include issuing 3,500,000 units of American Salars, each consisting of one common share and one purchase warrant at 20c for three years.
The company has secured field crews and specialists for a Phase 2 work program to map pegmatite outcrops and sample new areas, with plans for a follow-up drilling program. The project benefits from favorable infrastructure, including proximity to deep-water ports and international airports.
American Salars Lithium has initiated a Phase 1 exploration program on its Lac Simard Nord property in Quebec, which is adjacent to Sayona Mining's Tansim Project. The program focuses on reconnaissance, mapping, and sampling of pegmatite outcrops. The property is strategically located 430 meters west of the Viau Showing, which has reported lithium grades of up to 2.77% LiO2. The company also owns the Lac Simard South project, situated 95 km southwest of Sayona and Piedmont's North American Lithium Mine. American Salars holds two NI 43-101 compliant resources in Argentina: Candela 2 with 457,000 tonnes LCE and Pocitos 1 with 760,000 tonnes LCE.
American Salars Lithium has signed an agreement to acquire the Lac Simard Nord Project, consisting of 286 acres covering 2 claim blocks adjacent to Sayona Mining's Tansim Project in Quebec. The acquisition expands American Salars' holdings in Canada's only producing lithium camp to 3,958.75 acres. The property is located 430 meters west of the Viau Showing, which has reported lithium oxide grades of 2.77% over 3.20m. The company will acquire 100% interest by issuing 50,000 common shares to the vendor. The project area shows promising geology and is near Sayona Mining's Abitibi Hub, which has a measured and indicated resource of 111 million tonnes grading 1.14% lithium.
American Salars Lithium has signed an agreement to acquire the Lac Simard South Project in Quebec, consisting of 3,672.75 hectares across 64 claim blocks. The property is adjacent to Sayona Mining's Lac Simard property, which has sampled 2.1% Lithium and 5.88% Tantalum Oxide. Located 80 km southwest of Sayona's Authier lithium project, the acquisition marks American Salars' re-entry into Quebec. The company will acquire 100% interest by issuing 50,000 common shares to Quartier Mineral The project is situated in an active lithium exploration region with accessible infrastructure and proximity to a fully operating lithium concentrator.
American Salars Lithium Inc. (CSE: USLI, OTC: USLIF, FWB: Z3P) announces its common shares will trade under the symbol USLIF on OTC Markets starting August 7, 2024. The company has also received DTC eligibility, enhancing liquidity and expanding its potential shareholder base. American Salars' portfolio includes:
1. Pocitos 1 Lithium Project (Argentina): 760,000 tonnes LCE inferred resource (including neighboring Pocitos 2).
2. Candela II Lithium Project (Argentina): 457,500 tonnes in-situ LCE resource.
3. Black Rock South Lithium Project (Nevada): Recent sampling returned an average of 131 PPM lithium.
CEO R. Nick Horsley expressed optimism about lithium market recovery and ongoing M&A activities for strategic opportunities.
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