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TSX Venture Exchange (TSX-V): LIT Frankfurt Stock Exchange (FSE): OAY3 OTCQB Venture Market (OTC): PNXLF
VANCOUVER, BC, Nov. 30, 2023 /PRNewswire/ — Argentina Lithium
The Rincon Oeste/Pocitos option, now exercised, covers 2,390. 5 hectares of homes at the Company’s Rincon Oeste project, adding those where the Phase 1 drilling program was effectively completed this year. The option exercised also includes 15,857 hectares of homes in the Company’s Rincón Oeste project. Pocitos Project, which is recently in a 170 linear kilometer TEM geophysical survey program to map the subsurface for potential long-term drilling targets.
The Pipo/Alkaline option exercised covers 5,380. 5 hectares of housing in the Company’s Antofalla Norte project, for which the Company recently announced accelerated exploration plans for 2024.
Nikolaos Cacos, CEO of Argentina Lithium, said: “The restructuring of the features at Rincón Oeste and Antofalla Norte is a key step to move forward with the development of plans and the progression of our two main projects. Drilling on the option assets at Rincon West verified the potential for concentrated grade. lithium aquifer. Drilling is underway at Antofalla Norte, but our geophysics demonstrates a deep salar basin and we are confident in the prospectivity of lithium brines, so we have set ambitious plans to advance the project. We have secured an investment to fully explore those two projects. Array and our partner, Stellantis, fully support our approach. “
The anticipated restructuring of any of the characteristics was carried out through the Company’s Argentine subsidiary, Argentina Litio y Energía S. A. (“FTA”). Argentina Lithium owns 80. 1% of ALE, of which 19. 9% is owned through Peugeot Citroën Argentina S. A. , a subsidiary of Stellantis N. V. (“Stellantis”), following the transaction announced on September 27, 2023.
Rincon West/Pocitos Option Details
The Rincon West/Pocitos option agreement was announced on September 28, 2021. The option was conditional on cash payments of US$4,200,000 and payment of shares in the Company equivalent to CA$700,000 at the time of issuance, payable over 36 months. The Company had previously made US$1,300,000 in payments towards the option and completed its share issuance requirements and has now paid the remaining balance of US$2,900,000. The exercise of the Rincon West/Pocitos option grants 100% ownership of the Villanoveño II property as originally announced (2370 hectares) as well as the subsequently awarded Demasia Villanoveño II (20.5 hectares), both located at the Salar de Rincon, and the eleven properties designated as Pocitos 200, 201, 202, 203, 204, 205, 206, 207, 208, 209, 211, totalling 15,857 hectares located at the Salar de Pocitos.
Pipo/Alkaline Option Details
The Pipo/Alkalina option was announced on August 4, 2021, and covers 3 mining concessions totaling 5,380. 5 hectares, conditioned on US$ 4,000,000 in bills of exchange payable in 42 months and US$ 7,000,000 in payment commitments. painting expenses. In the past, the Company had issued warrants worth US$800,000 and has now paid the remaining balance of US$3,200,000. The conditions to begin work have been lifted and the cash operation of the Pipo/Alkalina option confers one hundred percent ownership of Alcalina V, Pipo I and Pipo II, which are considered central homes of the Antofalla Northern Society operation. The option exit was finalized by the completion of the significant money notes specified in the option agreement. The former asset holders accepted the completed paintings out of option and agreed to waive any ongoing paintings commitment specified in the original agreement. The organization that owns the original assets maintains a 2% NSR on the homes, which the Company further has the option to purchase at any time for a cash payment of US$5,000,000.
Qualified Person
Frits Reidel, CPG is a Qualified Person as defined in National Instrument 43-101, and the Principal of Atacama Water, and is independent of Argentina Lithium. The disclosure in this news release has been reviewed and approved by Mr. Reidel.
About Argentinian lithium
Argentina Lithium
ON BEHALF OF THE COUNCIL
“Nikolaos Cacos”_______________________________Nikolaos Cacos, President, CEO and Director
www. argentinalitium. com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is found in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company’s plans for its mineral properties; the Company’s business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.
Forward-looking statements are subject to a number of dangers and uncertainties that could cause the Company’s actual effects to differ materially from those discussed in the forward-looking statements and, even if such actual effects were known or substantially known, they could not possibly be It is guaranteed that they will have the expected consequences or effects on the Company. Factors that may also cause actual effects or events to differ materially from existing expectations include, but are not limited to: the effect of COVID-19; dangers and uncertainties related to the ability to obtain, modify or possess licenses, leases or surface rights; hazards related to technical difficulties related to mining activities; and the option that long-term exploration, progression or mining effects may not be consistent with the Company’s expectations. Actual effects would likely differ materially from those currently expected in such statements. Readers are encouraged to consult the Company’s public disclosure documents for a more detailed discussion of items that could possibly expect long-term effects. The Company undertakes no legal responsibility to publicly update or revise any forward-looking statements, except as required by applicable law. We advise US investors that SEC mining regulations strictly prohibit data of this type in documents filed with the SEC. American investors are cautioned that mineral deposits in adjacent homes are not representative of mineral deposits in our homes.
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SOURCE Argentina Lithium & Energy Corp.
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