Value Proposition: Acquired 100% ownership of the Chascha Norte lithium property in one of the world’s best location of lithium enrichment and within South American Lithium Triangle.
Property: The Chascha Norte lithium property cover an area of 2,843 hectares.
Location: The Chascha Norte Property is located in the Southeastern part of the Salar de Arizaro in the Province of Salta, Argentina. 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.
About Salar de Arizaro
The Chascha Norte Property, the same as the whole Arizaro Salar itself historically benefits from a 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.
- 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.
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.