AMERICAN SALARS ACQUIRES HIGHLY PROSPECTIVE PROPERTY WITHIN SAYONA MINING’S TANSIM LITHIUM PROJECT, QUEBEC
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 ha firmato un accordo per acquisire il Progetto Lac Simard Nord, che consiste in 286 acri coprendo 2 blocchi di concessione adiacenti al Progetto Tansim di Sayona Mining nel Québec. L'acquisizione espande le partecipazioni di American Salars nell'unico campo di litio produttivo del Canada a 3,958.75 acri. La proprietà si trova a 430 metri a ovest del Viau Showing, che ha riportato gradi di ossido di litio del 2.77% su 3.20m. L'azienda acquisirà il 100% di interesse emettendo 50,000 azioni ordinarie al venditore. L'area del progetto mostra una geologia promettente e si trova vicino all'Abitibi Hub di Sayona Mining, che ha una risorsa misurata e indicata di 111 milioni di tonnellate con un grado di 1.14% di litio.
American Salars Lithium ha firmado un acuerdo para adquirir el Proyecto Lac Simard Nord, que consiste en 286 acres y cubre 2 bloques de reclamación adyacentes al Proyecto Tansim de Sayona Mining en Quebec. La adquisición amplía las tenencias de American Salars en el único campamento de litio productor de Canadá a 3,958.75 acres. La propiedad se encuentra a 430 metros al oeste del Viau Showing, que ha reportado grados de óxido de litio del 2.77% sobre 3.20m. La empresa adquirirá un interés del 100% emitiendo 50,000 acciones comunes al vendedor. El área del proyecto muestra una geología prometedora y está cerca del Abitibi Hub de Sayona Mining, que posee un recurso medido e indicado de 111 millones de toneladas con un grado de 1.14% de litio.
American Salars Lithium는 퀘벡의 Sayona Mining Tansim 프로젝트에 인접한 286 에이커의 2개의 권리 블록으로 구성된 Lac Simard Nord 프로젝트를 인수하는 계약을 체결했습니다. 이 인수로 American Salars의 캐나다 유일의 리튬 생산 캠프 보유 면적이 3,958.75 에이커로 확대되었습니다. 이 부지는 Viau Showing에서 서쪽으로 430미터 떨어진 곳에 위치하고 있으며, 여기에서 3.20m의 구간에서 리튬 산화물 등급이 2.77%로 보고되었습니다. 이 회사는 판매자에게 50,000주를 발행하여 100%의 지분을 인수할 것입니다. 프로젝트 지역은 유망한 지질 구조를 보여주며 Sayona Mining의 Abitibi Hub와 가깝고, 여기에는 1.14% 리튬 등급의 1억 1100만 톤의 측정 및 지시 자원이 있습니다.
American Salars Lithium a signé un accord pour acquérir le Projet Lac Simard Nord, qui se compose de 286 acres couvrant 2 blocs de revendications adjacents au Projet Tansim de Sayona Mining au Québec. Cette acquisition élargit les participations d'American Salars dans le seul camp de lithium productif du Canada à 3 958,75 acres. La propriété est située à 430 mètres à l'ouest du Viau Showing, qui a signalé des taux d'oxyde de lithium de 2,77 % sur 3,20 m. L'entreprise obtiendra un intérêt de 100 % en émettant 50 000 actions ordinaires au vendeur. La zone du projet présente une géologie prometteuse et est proche du Hub Abitibi de Sayona Mining, qui dispose d'une ressource mesurée et indiquée de 111 millions de tonnes avec une teneur de 1,14 % de lithium.
American Salars Lithium hat eine Vereinbarung zur Übernahme des Lac Simard Nord Projekts unterzeichnet, das aus 286 Acres besteht und 2 Ansprüchblocks neben dem Tansim-Projekt von Sayona Mining in Quebec umfasst. Die Übernahme erweitert die Bestände von American Salars in dem einzigen produzierenden Lithium-Camp Kanadas auf 3.958,75 Acres. Das Grundstück liegt 430 Meter westlich des Viau Showings, das Lithiumoxid-Gehälter von 2,77 % über 3,20 m berichtet hat. Das Unternehmen wird durch die Ausgabe von 50.000 Stammaktien an den Verkäufer 100 % Anteil erwerben. Das Projektgebiet zeigt vielversprechende Geologie und liegt in der Nähe des Abitibi Hubs von Sayona Mining, der über eine gemessene und angezeigte Ressource von 111 Millionen Tonnen mit einem Gehalt von 1,14 % Lithium verfügt.
- Strategic acquisition expanding presence in active lithium production region
- Property located near high-grade lithium showings (2.77% LiO2 over 3.20m)
- Low acquisition cost (50,000 common shares)
- Accessible location with existing infrastructure
- Early stage exploration property with no defined resources
- Share dilution from acquisition payment
VANCOUVER, BC, Nov. 21, 2024 (GLOBE NEWSWIRE) -- AMERICAN SALARS LITHIUM INC. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY) announces it has signed a Mineral Claims Purchase Agreement (the “Agreement”) with an arm’s length vendor to acquire
This brings the Company’s holding in Canada’s only producing lithium camp to 3,958.75 acres at Lac Simard, Quebec.
Sayona and Piedmont Limited (“Piedmont”) announced a merger this week to create a USD
Tansim Lithium Project Page: (https://sayonamining.com.au/projects/tansim-project/)
Figure 1. Lac Simard Nord Claims Map
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[1] Sayona, Piedmont to create lithium giant in
[2] Piedmont Lithium shares up on continued record production at NAL - Canadian Mining Journal
American Salars CEO & Director R. Nick Horsley states, “This was a great opportunity to acquire strategic ground in close proximately to a known lithium showing inside Sayona's Tansim project. We will continue the hunt for low cost / high value lithium projects. Furthermore, the merger of Sayona and Piedmont shows that there is a strong appetite for M&A in the lithium space.”
These new claim blocks are located approximately 430 meters west of the Viau Showing (GM 67780):
In addition to these new Lac Simard Nord claims the Company’s previously announced and
The Company intends to begin planning for a comprehensive work program to identify targets and test areas of immediate interest in this active lithium exploration, production and processing region of mining friendly Quebec. Sayona Mining Limited’s Abitibi Hub, comprised of its flagship North American lithium Mine, Authier Lithium and Tansim lithium projects that are located nearby and boast a aggregate measured and indicated resource of 111 million tonnes grading 1.14 % lithium, the largest lithium resource in Quebec.
This lithium hub is more readily accessible, providing relatively lower cost exploration, than James Bay, and the area is home to a fully operating lithium concentrator and planned lithium carbonate/hydroxide conversion plant thereby reducing the need for redundant processing downstream solutions and capital expenditure in the event of an economic discovery.
Figure 2. Lac Simard South Regional Map
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Figure 3. Area of immediate interest on Lac Simard South
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Property Geology
The Lac Simard Nord property is underlain by the large monzodiorite batholith of Lac Simard Sud. This batholith is pinkish grey in color and is composed of plagioclase, K-feldspar hornblende with minor amount of epidote and quartz. Quartz-monzodioritic dykes and sills are observed at the margin of this intrusion. The Ni-Cu Laforce showing explored by Kerr Addison Gold Mines Ltd. and more lately by Fieldex Exploration (2007) lies about 1 km south of the Property and is underlain by a large granite batholith intrusive. The showing explored by Kerr Addison Gold Mines Ltd. is in a mass of amphibolite surrounded by pink granite but not far from the western edge of the granite batholith. The rock is composed of grey feldspar hornblende, the hornblende constituting from 40 to
The Transaction
American Salars has entered into an agreement with Quartier Mineral Ltd. of Quebec, whereby American Salars is acquiring a 100-per-cent interest in the Lac Simard Nord project by issuing to the vendor 50,000 common shares.
Additional projects are still being reviewed and will be subject to further disclosure once due diligence is completed and a deal is completed.
American Salars’s management cautions that past results or discoveries on properties in proximity to American Salars may not necessarily be indicative of the presence of mineralization on the Company's properties.
Qualified Person
Mitchell Lavery, P.Geo. (QC), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for The Lac Simard portion of this news release, and has approved the disclosure herein.
American Salars global lithium portfolio consists of two advanced lithium resources in Argentina and our advancing USA lithium asset in Nevada.
The Company’s existing portfolio of lithium deposits including two NI 43-101 Compliant Inferred Mineral Resource Estimates (“MRE”) consisting of 457,000 tonnes Lithium Carbonate Equivalent (“LCE”) at the Candela 2 Lithium Brine Project (“Candela”) and a shared MRE at the Pocitos 1 Lithium Brine Project (“Pocitos”) consisting of 760,000 tonnes LCE. The Pocitos MRE is shared with neighbouring Pocitos 2 which is not under contract or owned by USLI, however it is important to note that none of the drilling that makes up a partial basis for the MRE took place on the Pocitos 2 block. Both brine projects are located in Salta Province, Argentina.
Recently, mining giant Rio Tinto made an additional investment into Argentina, with an all-cash transaction to acquire Argentina lithium producer Arcadium Lithium for US
About Pocitos 1 Lithium Deposit
WSP Australia completed an update of the NI 43-101 report initially written by Phillip Thomas QP in June 2023 and estimated on an inferred basis using a block model with
The Pocitos 1 project is located approximately 10 kilometers from the township of Pocitos where there is gas, electricity, and accommodation. Pocitos 1 is approximately 800 hectares (1,977 acres) and is accessible by road. Collective exploration since 2017 totals over US
Lithium values of 169 ppm from drill hole PCT22-03 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project’s December 2022 drill campaigns. A packer sampling system was used in HQ Diamond drill holes that were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours with all holes exhibiting exceptional brine flow rates. An NI 43-101 updated report completed by WSP Australia has been released on the Pocitos 1 project.
Ekosolve Ltd. a DLE technology company was able to produce
Figure 4. Drilling at Pocitos 1 Lithium Brine Project (Salta, Argentina)
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About Candela II Lithium Deposit
The Candela II Lithium deposit is on the southern and lowest end of the Incahuasi Salar, located in the Province of Salta, Argentina. Candela II is situated approximately 45 kilometers from town of Tolar Grande, 267 kilometers from Salta, and close in proximity to advanced and renowned lithium salars such as Arizaro (Lithium Chile) and Pocitos (Hanaq). Volcanoes Cerro Aracar, Medina and Pular contribute lithium to the Incahuasi salar through aquifers.
The Candela II Lithium Brine Project contains a National Instrument 43-101 mineral resource estimate (“MRE”) completed by WSP Australia Pty. Ltd. (see Spey Resources Corp. news dated September 26th, 2023). This NI 43-101 resource report estimates the project to contain lithium metal of 86,000 tonnes which equates to 457,500 tonnes of in-situ lithium carbonate equivalent (LCE) and a lithium yield of 48,000 tonnes of LCE from 9,000 tonnes of lithium metal. The calculations assume no losses from lithium metal and a porosity average that will be updated in the next drilling phase.
Figure 5. Road on Candela II Lithium Brine Project 2022 (Salta, Argentina)
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Qualified Person
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release regarding Argentina properties, and has approved the disclosure herein. Mr Thomas is a shareholder of American Salars lithium shares.
Additionally, American Salars has engaged Stockhouse Publishing Ltd ("Stockhouse") to provide marketing services in support of the Company’s marketing strategy in building investor awareness and increasing exposure of the Company. Stockhouse, a renowned Vancouver-based marketing and media platform catering to retail investors, will be paid
Contact: (604) 678-4349 sales@stockhouse.com
As well , American Salars has entered into an advertising and investor awareness campaign with Dig Media Inc. dba Investing News Network (INN). INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007 at www.investingnews.com. For the 12 month term of the agreement, INN will provide advertising to increase awareness of the issuer. INN does not provide Investor Relations or Market Making services. The cost of the campaign is
The Company announces that it has entered into an agreement with Triomphe Holdings Ltd. (dba Capital Analytica) (“Capital Analytica“) for investor relations and communication services (the “Consulting Agreement“). The Consulting Agreement has an initial term of six months, commencing November 22, 2024, under which the Company will pay Capital Analytica a fee of
Pursuant to the terms of the Consulting Agreement, Capital Analytica will provide ongoing capital markets consultation, ongoing social media consultation regarding engagement and enhancement, corporate video dissemination, and other related investor relations services. Capital Analytica is a Nanaimo based company owned and operated by Jeff French who is at arm’s length to the Company and holds no securities, directly or indirectly of the Company.
Contact: 604-778-882-4551 jeff@capitalanalytica.com
About American Salars Lithium Inc.
American Salars Lithium is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market. The company's Pocitos 1 and the Candela II lithium salar projects in Argentina both feature a NI 43-101 inferred resource.
All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, TikTok, Facebook and Instagram.
On Behalf of the Board of Directors,
“R. Nick Horsley”
R. Nick Horsley, CEO
For further information, please contact:
American Salars Lithium Inc.
Phone: 604.740.7492
E-Mail: info@americansalars.com
Neither the Canadian Securities Exchange 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.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding American Salar’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits American Salars will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including American Salars results of exploration or review of properties that American Salars does acquire. These forward-looking statements are made as of the date of this news release and American Salars assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
FAQ
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