Liberty One Lithium Corp., an emerging exploration company focused on the acquisition and development of high grade lithium brine deposits, announced the closing of a mineral option and joint venture agreement with Millennial Lithium Corp.
The agreement grants Liberty One Lithium the sole and exclusive right and option to acquire up to an eighty (80%) percent undivided beneficial right, title and interest in the Pocitos West project in Argentina consisting of a total area of 15,857 Ha (approx.39,000 acres) along the western portion of the Pocitos Salar located in Los Andes Department, western Salta Province. The project is ideally located directly in the middle of the Argentinian segment of the well-known lithium triangle.
The 60-kilometre-long Pocitos salar basin was previously drill tested with 12 shallow holes in 1979 by an Argentine government agency, the Direccion General de Fabricaciones Militares (DGFM). The most significant result from the historical work program includes a shallow drill hole, which averaged 417 parts per million (ppm) lithium and 15,300 ppm potassium. The results of these holes and the sampling conducted are historical in nature and cannot be confirmed by the Company under National Instrument 43-101 standards of exploration applicable today.
Company President Brad Hoeppner stated: «We have recently completed a detailed field inspection with our JV partners and had an opportunity to meet with several operators in the area. Examination of sampling efforts that were underway at an adjacent claim area were extremely interesting and we are preparing to move ahead with our initial NI 43-101 report with an aim to ready work plans in accordance with our agreement.»
