Vancouver, B.C, January 18, 2018 – Alba Minerals Ltd. (“Alba”) (TSX-V: AA.V: AXVEF:US Frankfurt: A117RU) is pleased to announce that it has successfully reached the final stage of adding another Lithium Property to its Lithium Exploration Portfolio in Salta, Argentina. The Chascha Norte concession consists of a single mining claim, which covers 2843 hectares. It is located in the Southeastern part of the Salar de Arizaro, the largest yet unknown Salar in this district, in closest vicinity to Argentina Lithium & Energy Corporation’s and Lithium X’s Arizaro lithium brine projects.
Figure 1&2: Location
About Salar de Arizaro
The Chascha Norte Property, the same as the whole Arizaro Salar itself historically benefits from an good infrastructure, since several mining projects (including precious metals and lithium) have been developed within surrounding districts. Due to its length, the Salar’s environment is still one of the most unknown concerning its potential to host fresh water and brine resources enriched with lithium and/or potassium.
Table 1 and Figure 3: Salar de Arizaro General Aspects
To the company’s knowledge only the Chascha Aquifer System, Taca Taca Aquifer System and Salar de Arizaro Aquifer System were identified and scientifically described to date (cf. Garica et al. 2016). Hydrogeologically, the Chascha Aquifer System develops in the southern sector where it is connected to other river basins (Cori, Arita, Cavi, Rio Grande, among others). The Sub-basin Chascha is a tributary to the Salar de Arizaro and host numerous alluvial plains (vegas) and lagoons (Vega of Chascha, Agua Negra and Las Lagunitas).
Historical sampling and drilling programs on the western margins and to the north of the Property executed by other Canadian companies show lithium anomalies in near surface contained within the classic halite layer and subsurface aquifers with increasing Li-values in depth.
Sandy MacDougall, Chairman and Director of Alba comments: “While awaiting the geophysical results from Quiron II which are expected within the next two weeks, we are positively surprised about the progress made in the process of acquiring this significant exploration prospect and the opportunity to widen our portfolio of properties for our Lithium Brine Project in Argentina. After a year of learning and adapting to local ways of doing business, we are armed now for 2018 with everything we need to build on our projects and aggressively pursue more opportunities to increase our land position.”
- Salar de Arizaro is accessed by a highway and railroad that connect the Project to Chile and Pocitos, where natural gas and an Industrial Park are found.
- Favorable structural geology: suave relief where the Salar is expected to continue underneath
- Zone with elevated concentrations of dissoluted solids corresponding to the Taca Taca Region Cori Unit
- Close to Lithium X Arizaro lithium brine project (cf. NEXTVIEW NEW ENERGY LION HONG KONG LIMITED) and Grosso Group’s Argentina Lithium & Energy Corp and adjacent to large-scale mining projects, including First Quantum’s Taca-Taca copper project and Fortuna Silver’s Lindero gold project.
The technical information contained in this news release has been reviewed and approved by Dr. Peter Born, P.Geo., who is a Qualified Person as defined under National Instrument 43-101.
Terms of Acquisition:
The Company has entered into the Chascha Norte Property Option Agreement with two arms’ length vendors to earn 100% interest under the following terms:
- $250,000 total cash consideration ($50,000 upon signing and $200,000 within 30 days of TSX Venture Exchange approval) and;
- 4,500,000 common shares issued upon TSX Venture Exchange approval.
Brief on Quiron II:
The data processing of the electric vertical sounding at Quiron II is in its final stage. The highly experienced team of Conhydro under the supervision of Dr. Garcia is evaluating the last computer-generated mathematical models and results are expected to be available within the next
About Alba Minerals Ltd.
Alba Minerals Ltd. Is a Vancouver based junior resource company with projects in North and South America, focusing on the development of our Lithium properties. Lithium Projects are located in Clayton Valley Nevada where Alba has earned a 25% interest and entered into an agreement to acquire an additional 25% in the project. The second lithium project Quiron II consist of 2,421 hectares of prospective exploration property in the Pocitos Salar, Province of Salta, Argentina. The Project is located approximately 12 km northeast from the Liberty One Lithium Corp and 19 Km from Pure Energy Minerals Ltd’s Pocitos prospects.
Please visit our web site for further information: www.albamineralsltd.com
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman & Director
Direct: (778) 999-2159
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.
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