The 48,325 hectare Los Sapitos project in Argentina is a new lithium exploration target within a prospective tectonic corridor stretching from northern San Juan province north into La Rioja province. A series of salars, hot springs and geysers are situated within this tectonic corridor and are geologically analogous to well-known lithium bearing environments in Salta and Jujuy provinces. 26,962 hectares of the project are under option from a private vendor, while an application to acquire the rights for a further 21,363 hectares of open ground within this prospective corridor has been submitted.
The area is host to vast alluvial sand and clay deposits which have never been investigated for their lithium content. Very limited exploration has occurred on the project since it was acquired by the vendors and the initial focus of the Company will be to conduct systematic sampling of not only the brines, but also investigate the potential for the presence of lithium rich clays. Ulexite (a boron evaporite mineral) has also been identified on the Property and indicates that concentrated boron bearing brines have been present which is an indicator for lithium prospectivity. This corridor will be the primary focus of the Company’s lithium exploration.