In the last month, Millennial Lithium has moved to acquire projects in two large land packages in Argentina’s “Lithium Triangle,” as demand for the metal is expected to skyrocket.
Millennial Lithium Corp. (ML:TSX.V) has been moving quickly to acquire stakes in Argentina. In September it agreed to acquire 100% of the Pastos Grandes Lithium Project in Salta Province and other prospects, and also entered into an option agreement to acquire 100% of the Cauchari East Lithium Project in Jujuy Province. Both projects lie within the “Lithium Triangle,” the area of Argentina, Bolivia and Chile that may contain as much as 70% of the world’s long-term supply of lithium.
The company plans to explore these prospects without delay. In a Sept. 28 announcement, Millennial Lithium stated it “plans to apply its rapid development strategy to the Cauchari East Property. Pending government and community approvals, the Company will advance through geophysics to drilling in order to make, in as short an amount of time as possible, an assessment of resource potential. As warranted, the Company plans on advancing the project through the necessary work and studies to estimate a resource and, if a resource can be proven, to determining if commercial production is feasible.”
In Caesars Report,Thibaut Lepouttre wrote that “the Cauchari East lithium project is part of the salar where both Orocobre (ORL:TSX; ORE:ASX) and Lithium Americas (LAC:TSX; LHMAF:OTCQX) are working on two advanced-stage lithium projects.” He noted that “This seems to be an interesting acquisition in an already well-known salar and it validates the company’s intentions to execute a ‘rapid development strategy’ which could add the Cauchari East project to the current pipeline of lithium assets.”
Millennial released an NI-43-101-compliant Technical Report on the Pastos Grandes project, which used historical data. The company noted that “Previous work identified in the …read more