InvestmentPitch Media Video Discusses Argentina Lithium and its Two Projects in Argentina as its Featured Company - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - April 21, 2021) - Argentina Lithium and Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQB: PNXLF), a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993, is today's featured company video with Investmentpitch Media. The company has two projects in Argentina, within the Lithium Triangle, an area that produces about half of the world's lithium and hosts approximately 60% of the known lithium reserves.
Most lithium in this area is in salt lake or salar brines, with Argentina producing approximately 10% of the world's lithium, placing it within the top five global producers in 2020.
For more information, please view the InvestmentPitch Media "video" which provides additional information on the company and this news including video comments by Niko Cacos, President and CEO of Argentina Lithium. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Argentina Lithium" in the search box.
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The company holds a 100% interest in the 13,372-hectare Incahuasi Project, which covers an area approximately 2.5 kilometers wide and 17 kilometers long, is located approximately 3,300 meters above sea level in the Incahuasi Salar and basin in Catamarca province. Management believes Incahuasi is underexplored and prospective for quality lithium brines particularly at depth, as it is located in a hyper-arid region which receives on average less than 30 millimetres of rain per year, a necessary condition for the creation of evaporative brines.
Geological mapping completed in 2017 and 2018, which consisted of 52 reconnaissance pit samples taken to a maximum depth 8 meters, returned maximum values of 409 milligrams per liter lithium and 1.56% potassium. In addition, 69 vertical electric soundings taken on 9 lines showed extremely low resistivity which corresponded to extremely high conductivity starting at surface and extending 200 meters in depth.
Some high conductivity zones, shown in blue, were detected below the present surface sediments indicating potential for brines at depth. A 4-drill-hole program of 878 meters completed in 2018 tested two highly conductive domains identified from this survey showed modest, consistent results as shown in this table.
The company also holds a 100% interest in the approximately 9,000-hectare Antofalla Project in the north end of the Salar de Antofalla. The Salar de Antofalla is approximately 150 kilometres long and 5 to 7 kilometres wide and is situated at 3,900 meters above sea level. A geophysical survey completed in 2018 identified several potential targets with high conductivity in the first 100 meters and moderate conductivity at deeper levels.
The company recently raised gross proceeds of $764,000 from an oversubscribed private placement of approximately 8.4 million units priced at $0.09 per unit.
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