Argentina Lithium & Energy Corp (CVE:LIT) (OTCMKTS:PNXLF) (FRA:OAY1) is pleased to announce the successful early exercise of its 100 percent mineral property options at both Rincon West and Antofalla North Projects located in the province of Catamarca, Argentina.
The company has now gained full ownership of all tenements related to the projects, located within the Lithium Triangle, a globally-recognized lithium production region.
With the acquisition of the property options, the company now owns eight claims with total surface rights of 12,884 hectares. The Rincon West project contains six claims and 11,313 hectares, while the Antofalla North project contains two claims and 1,571 hectares.
“The early exercise of the option agreements further strengthens our already robust portfolio of lithium projects in Argentina and provides us with the mineral tenements required to develop a world class lithium project in the Lithium Triangle,” said President and Chief Executive Officer, Nicolas Aguilera.
“With increasing demand for lithium around the world, we are now well positioned to position ourselves to take advantage of this exciting opportunity. We look forward to the upcoming work programs for both projects and unlocking their potential to become leading lithium projects in Argentina.”
Argentina is increasingly seen around the world as a major source of lithium, and the Lithium Triangle is a major focus for Argentine exploration and development. With a combination of favorable geology, mature infrastructure, and near perfect geographical positioning between Argentina, Chile, and Bolivia, the region has become one of the world’s leading lithium-producing regions.
Argentina Lithium & Energy Corp is uniquely positioned to take advantage of this growth, as one of only a handful of publicly-traded companies with high-grade lithium assets in the area. With the successful acquisition of the property options, the company is now able to pursue a much larger scale exploration program in the region, which could unlock significant value for investors.
As the company moves forward, it will continue to explore the region and focus its efforts on advancing its core projects. Through the use of modern technologies, the company is focused on unlocking the lithium potential of its projects and paving the way for a long-term, sustainable lithium production industry in Argentina.