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TSX Venture Exchange (TSX-V): LITFFfurt Venture (FSE): OAY3OTCQB Venture Market (OTC): PNXLF
VANCOUVER, British Columbia, Nov. 8, 2023 /PRNewswire/ — Argentine lithium
Nikolaos Cacos, CEO of Argentina Lithium, said: “We continue to focus on expanding potential resources for our Tier 1 projects in Rincon and Antofalla Norte. These new spaces will be incorporated into our exploration systems and we plan to implement complex geophysics to verify the presence of brine aquifers and conduct drilling and pumping tests to assess their possibilities of hosting lithium in brines. Our financing agreement with Stellantis, announced on September 27, puts us in a strong position to fully source and explore highly prospective wage housing as it becomes available. “
Don Fermín is a mining concession granted through the Mining Authority of the Province of Salta, on the eastern flank of the Salar de Rincón, approximately 19 km east of the Company’s main asset block, Rincón Oeste (see Map 1). Assets have not been the subject of significant exploratory paintings in the past. It is adjacent to Rio Tinto’s Rincon assignment and 1. 1 km northeast of Argosy Minerals’ Rincon assignment.
Lexi-30 is a mining concession granted through the Mining Authority of the Province of Catamarca, on the west side of the Salar de Antofalla, adjacent to the Company’s existing Antofalla Norte asset block (see Map 2). The assets have already been inspected by TEM in the future. It hasn’t been drilled before. It is approximately 1. 1 km northwest of Albemarle Corporation’s Antofalla project.
[Argentina Lithium cautions that proximity to a discovery, mineral resource or mining operation does not imply that mineralization will occur on the Company’s property and, if it occurs, that it will occur in sufficient quantity or grade to result in an economic extraction scenario. ]
Details of the Don Fermín Agreement
The terms of the option include bills of exchange totaling $2,750,000 over 18 months, plus a $250,000 non-refundable advance. The Company would possibly advance the dates of the next 4 installments at its discretion. The dealer keeps a 1. 5% net foundry royalty (“NSR”) that can be redeemed for US$4 million.
Details of the deal with Lexi
The terms of the option offer two bills of exchange totaling $425,000, plus a non-refundable advance payment of $50,000 and an optional final payment of $375,000, payable within a maximum of 12 months. The merchant is left with a net smelting royalty. (“NSR”) of 2%. In the event that the grantee wishes to move or sell the NSR, the Company has the right to align with the terms of moving or selling the NSR.
Qualified Person
Frits Reidel, CPG is a National Instrument 43-101 Qualified Person and Director of Atacama Water, and is independent of Argentina Lithium. The data contained in this press 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 & Director
www. argentinalitium. com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may include forward-looking statements. Forward-looking statements relate to long-term events and situations and involve inherent dangers and uncertainties. All statements, other than statements of past fact, that refer to activities, events or developments that the Company believes, expects or hopes will occur or are likely to occur in the long term, including, but not limited to, statements regarding the Company’s plans. Company for its mineral properties; the Company’s business strategy, plans and prospects; the Company’s long-term monetary or operational performance; and long-term exploration and progression 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
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