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TSX Undertaking Alternate (TSX-V): LIT
Frankfurt Reserve Alternate (FSE): OAY3
OTCQX Undertaking Marketplace: LILIF
VANCOUVER, BC, Oct. 31, 2024 /PRNewswire/ – Argentina Lithium & Power Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF), (“Argentina Lithium” or the “Company”) proclaims that it has won the exploration allow for the Paso de Sico mining concession, a part of the Rincon West Challenge positioned adjoining to Rio Tinto’s Rincon Challenge in Salta Province, Argentina. The 2-year allow is issued by way of the provincial Secretariat of Mines and Power for exploration paintings together with diamond and rotary drilling. The Corporate intends to mobilize a diamond drill in a while to start out a six-hole exploration program to judge the possibility of lithium brines throughout the feature.
Nikolaos Cacos, President and CEO, mentioned “The grant of the drilling permit is a long awaited step which allows us to advance the Rincon West project evaluation. Recent drilling on our West Block properties has successfully identified extensive host formations saturated with lithium-rich brines. We intend to execute a similar programme on this northern block, which is currently undrilled. We have also identified Paso de Sico as the likely site of any potential future processing plant and related extraction facilities for the project due to its very favorable setting. The Paso de Sico property is adjacent to major provincial and national highways and is crossed by a new 345 kW power corridor.”
Together with the deliberate program at Paso de Sico, roughly 8000 metres of drilling are deliberate all over the Rincon West challenge over the upcoming 18 months to finish brine useful resource, H2O useful resource and indistinguishable drilling. This paintings remains to be funded by way of the pay as you go drilling guarantee established in 2023 for as much as 15,500-metres of drilling (see the fresh Financial Statements for main points).
The Paso de Sico feature is a contiguous assemblage of 4 mining concessions totalling 791.3 hectares positioned on the northern fringe of the Salar de Rincon (see Figure 1). The feature is positioned 50 km northwest of the village of Olacapato, the place the Corporate maintains an operational bottom.
Within the October 6, 2022 News Release, the Corporate introduced the purchase of the Paso de Sico choice, an word with a neighborhood seller to earn a 100% passion within the houses. Phrases of the Paso de Sico choice word come with money bills totalling US$1.5MM paid over two years and a complete of US$2.3MM of exploration and building expenditures over a three-year duration starting on the lend of the exploration allow. Recently there may be one fee of US$400,000 residue. The choice word grants a three% NSR to the Seller, which may also be bought by way of the Corporate for an backup US$1.5MM.
Certified Individual
Frits Reidel, CPG is a Certified Individual as outlined in Nationwide Software 43-101, is the Major of Atacama Aqua Specialists, and is free of Argentina Lithium. Mr. Reidel has reviewed the paintings performed by way of the Corporate’s exploration crew on the early-stage Rincon West feature. The disclosure on this information let go has been reviewed and authorized by way of Mr. Reidel.
About Argentina Lithium
Argentina Lithium & Power Corp is considering obtaining top feature lithium initiatives in Argentina and advancing them in opposition to manufacturing to bring to satisfy the rising international call for from the battery sector. The Corporate’s strategic investment by way of Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., one of the most international’s important automakers, parks Argentina Lithium in a novel place to discover, assemble and progress its 4 key initiatives overlaying over 70,000 hectares within the Lithium Triangle of Argentina. Control has a protracted historical past of good fortune within the useful resource sector of Argentina and has assembled one of the vital maximum potential lithium houses on the planet famend “Lithium Triangle”. The Corporate is a member of the Grosso Crew, a useful resource control crew that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
“Nikolaos Cacos”
_______________________________
Nikolaos Cacos, President, CEO and Director
Neither TSX Undertaking Alternate nor its Legislation Products and services Supplier (as that time period is outlined in insurance policies of the TSX Undertaking Alternate) accepts duty for the adequacy or accuracy of this let go.
This information let go accommodates forward-looking statements. Usually, forward-looking statements may also be known by way of the utility of terminology reminiscent of “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and related expressions. Ahead-looking statements deal with time occasions and situations and subsequently contain inherent dangers and uncertainties. All statements, alternative than statements of historic reality, that deal with actions, occasions or traits control of the Corporate believes, expects or anticipates will or would possibly happen going forward, together with, with out limitation, statements concerning the Corporate’s plans for its mineral houses; the Corporate’s industry technique, plans and outlooks; the time monetary or working efficiency of the Corporate; and time exploration and working plans are forward-looking statements.
Ahead-looking statements are topic to numerous dangers and uncertainties that can purpose the untouched result of the Corporate to range materially from the ones mentioned within the forward-looking statements and, even supposing such untouched effects are discovered or considerably discovered, there may also be negative contract that they’re going to have the predicted repercussions to, or results on, the Corporate. Accordingly, readers will have to no longer park undue reliance at the forward-looking statements. Components that would purpose untouched effects or occasions to range materially from wave expectancies come with, amongst alternative issues: dangers and uncertainties indistinguishable to the power to acquire, amend, or uphold licenses, lets in, or floor rights; dangers related to technical difficulties in reference to exploration actions; the chance that time exploration. There is also alternative components that purpose effects or occasions not to be as expected. Unedited effects would possibly range materially from the ones lately expected in such statements. Readers are inspired to please see the Corporate’s Control’s Dialogue and Research for a extra graphic dialogue of things that can have an effect on anticipated time effects. The forward-looking statements contained on this press let go are made as of the week hereof or the dates in particular referenced on this press let go, the place appropriate. The Corporate undertakes negative legal responsibility to publicly replace or revise any forward-looking statements, until required pursuant to appropriate regulations. All forward-looking statements contained on this press let go are expressly certified by way of this cautionary commentary.
We propose U.S. buyers that the SEC’s mining tips strictly oppose knowledge of this kind in paperwork filed with the SEC. U.S. buyers are cautioned that mineral deposits on adjoining houses aren’t indicative of mineral deposits on our houses.
SOURCE Argentina Lithium & Power Corp.
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