The Canadian company, a member of the Grosso Group, has successfully completed the exercise of option agreements for nearly 25,400 hectares of lithium-rich land across its Rincon West, Pocitos, and Antofalla North Projects, in Argentina. This strategic move underscores the Company’s commitment to expanding its lithium portfolio in the region.
By Panorama Minero
The recent investments have enabled the Company to acquire full ownership of 22 high-potential properties, following significant advancements in drilling and geophysical assessments throughout 2024. These acquisitions are pivotal as they validate the Company’s exploration strategies and strengthen its position in the growing lithium sector.
Key Property Acquisitions
● Antofalla Salar: The company has finalized its option to acquire three mining concessions totaling 5,380.5 hectares. The agreement, initially involving a US$ 4 million payment plan, was concluded with a final payment of US$ 3.2 million, waiving previous exploration investment commitments. A 2% net smelter royalty will apply once production begins.
● Pocitos and Rincon Salar: Multiple mining concessions in Salta Province, including eleven contiguous properties at Pocitos Salar and Villanoveño II at Rincon Salar, were secured. The total deal value was US$ 4.2 million and CA$ 700,000 in shares. The option was fully exercised with a final payment of US$ 2.9 million, resulting in complete ownership with no further royalties.
● Ramos Properties: The final option for five mining concessions at Pocitos Salar, totaling 1,762 hectares, was completed with a final payment of US$ 550,000. A 1% net smelter royalty will be in place upon production.
“These acquisitions position Argentina Lithium as a key player in the lithium sector, with expanded landholdings that are expected to drive future growth and development”, Argentina Lithium & Energy stated in a press release.
