Project:

Laguna Verde

Size

Aggregate total concession size of approximately 8,700 hectares in Region III, northern Chile

Location

193 km east of regional capital Copiapo, adjacent to Highway 60 and 15 km west of the Argentinian border

Timeline

Lake-brine sampling and evaluation program initiated March 2017

Gravity survey May 2017

Laguna Verde Overview

Lithium brines generally occur in surface and sub-surface brines as well as in deeper brine aquifers. At Laguna Verde (translates to ‘Green Lake’) the principle target is the lake itself and the lake brines contain highly elevated lithium and potassium. Laguna Verde is in a similar geological setting to other lithium-bearing salars in Chile in that it is in a closed basin, surrounded by volcanic cones. The difference is that inflow of lithium-enriched brine is sufficient to maintain standing water. The lake is fed by active hot springs that appear to be the primary source of lithium, potassium and other metallic salts.

More

Less

The majority of sampling at Laguna Verde was undertaken in 2010 when detailed brine lake samples were collected on a pre-established grid of 500m or less. Surface water samples were collected using standard techniques whereas water samples taken at depth were collected using a Van Dorn Vertical Water Sampling Bottle allowing collection of undisturbed water samples from specific depths. A total of 78 samples were collected and the density of lake brines was found to be constant from surface to depth. The sample chemistry was also found to be consistent with a single data population and a standard deviation of only 6%. Average grades of 213 mg/l for lithium and 4,881 mg/l of potassium were recorded.

 


Work Program

The Company is currently analyzing data collected from field work studies, including resistivity tests which are quite accurate for locating subsurface brines. The result of the analysis will give the Company drill targets that will be drilled once the seasonal factors permit so. The Company believes that the above ground lake at the Laguna Verde, which was originally anticipated to be the only potential resource of lithium, is in fact a small part of a much larger lithium basin where the bulk of anticipated lithium brines are located underneath the lake in permeable layers that form the salar basin.

As part of the recently completed work program, the Company has retained Tenova to test brines from Laguna Verde for lithium (and other elements) grade, as well as to begin recovery technology testing. It is expected that the results of such work will be available by the end of Q3 2017.