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Published on July 16, 2024 • Read for 6 minutes
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VANCOUVER, British Columbia, July 16, 2024 (GLOBE NEWSWIRE) — AMERICAN SALARS LITHIUM INC. (“AMERICAN SALARS” or the “Company”) (CSE: USLI, OTC: ASALF, FWB: Z3P, WKN: A3E2NY) Announces that it has adopted a formal Environmental, Social and Governance (ESG) policy.“ESG”) Policy before continuing to develop Pocitos 1 Lithium Salar (“Positos 1”) Candela 2 lithium brine project (“Candela 2”) In Salta Province, Argentina and its southern black rocks of lithium salar (“Black Rock South”) In Nevada.
The ESG policy extends beyond corporate offices and project sites; it also covers all current and future operational sites throughout their entire lifecycle. This ensures a comprehensive approach to ESG aspects across all areas of operations.
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A copy of the new ESG Policy is available on the Company’s website: www.americansalars.com
American Salars CEO and Managing Director, R. Nick Horsley, stated, “The old way of putting greed before social responsibility is gone. Our new ESG policy sets a new standard for values and ethics for our company and the world. Our new framework aligns with our corporate ESG investment mandates for long-term sustainable development projects. While the company has always been guided by ESG ethics and the core thesis of our business operations, we have now formally established a transparent policy framework. As we continue to explore and develop our projects in Pocitos 1, Candela 2 and BlackRock South, we will integrate our new ESG principles into every aspect of our business. We believe this approach will deliver long-term benefits to our stakeholders in the local community, employees and shareholders while aligning with our corporate objectives.”
The Company expects all business partners to adhere to the Policy and will work with them to achieve compliance.
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The Company’s global lithium portfolio consists of two advanced lithium resources in Argentina and our advanced lithium assets in the United States in Nevada.
About Pocitos 1 Lithium Deposit – Salta, Argentina
WSP Australia completed the update to the NI 43-101 report initially written by Phillip Thomas QP in June 2023 and estimated on an inferential basis using a block model with porosity of 6% and 14% for the clay and sand rocks respectively and Mineral Resource Estimate (“MRE”) of 760,000 tonnes of lithium carbonate equivalent (“LCE”) in the Pocitos 1 area (800 ha) and the adjacent Pocitos 2 area (532 ha). American Salars does not own the adjacent Pocitos 2 land, which constitutes 40% of the total land package that comprises the resource, but it is worth noting that all drilling to date has been completed on American Salars’ Pocitos 1 block.
Figure 1. Drilling at the Pocitos 1 lithium brine project (Salta, Argentina)
The Pocitos 1 Project is located approximately 10 kilometers from the town of Pocitos where gas, electricity and housing are available. Pocitos 1 is approximately 800 hectares (1,977 acres) in size and is accessible by road. Total collective exploration since 2017 has totaled over $2.0 million in project development, including surface sampling, trenching, TEM and MT geophysics, and the drilling of three wells that returned excellent brine flow results. Immediate follow-on drilling locations have already been identified for future exploration based on the latest MT survey.
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Lithium values of 169 ppm were recorded from the PCT22-03 drill hole assay from laboratory analysis conducted by Alex Stewart during the project’s drilling campaigns in December 2022. A packer sampling system was used in the HQ Diamond drill holes which were drilled to depths of up to 409 metres. Continuous brine flow was observed for over five hours with all holes showing exceptional brine flow rates. An updated NI 43-101 report completed by WSP Australia has been issued on the Pocitos 1 Project.
Ekosolve Ltd., a DLE technology company, was able to produce lithium carbonate with a purity of 99.8% and recovery was greater than 94% of the lithium present in the brine, meaning 158.86 ppm of lithium could be recovered from 169 ppm.
About the Candela 2 Lithium Deposit – Salta, Argentina
The Candela II lithium deposit is located at the southern and lower end of the Salar Incahuasi, located in the province of Salta, Argentina. Candela II is located approximately 45 kilometers from the city of Tolar Grande, 267 kilometers from Salta, and is close to advanced and well-known lithium salars such as Arizaro (Chilean lithium) and Pocitos (Hanaco). The Cerro Aracar, Medina and Polar volcanoes contribute lithium to the Salar Incahuasi through groundwater aquifers.
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Figure 2. Roadmap for the Candela 2 Lithium Brine Project (Salta, Argentina)
The Candela II Lithium Salt Project has a Mineral Resource Estimate (“MRE”) under National Instrument 43-101 completed by WSP Australia Pty. Ltd. (see Spey Resources Corp. news of 26 SeptemberD2023). This NI 43-101 resource report estimates that the project contains 86,000 tonnes of lithium mineral equivalent. 457,500 tonnes of lithium carbonate equivalent (LCE) on site The lithium yield is 48,000 tonnes of lithium ore from 9,000 tonnes of lithium metal. The calculations assume no lithium metal losses and an average porosity that will be updated in the next drilling phase.
About the South Black Rock Lithium Brine Project – Nevada
The Black Rock South Lithium Brine Project is located 72 miles north of the Tesla Gigafactory, 93 miles southwest of Thacker Pass, and 215 miles northwest of the only producing lithium mine in the United States, Albemarle Corporation’s Silver Peak Lithium Brine Mine. The claims cover a conceptual lithium brine target that closely resembles the published geology of the Clayton Valley lithium brine production area approximately 200 miles to the southeast. The concept is consistent with generally accepted data and theories about the formation of lithium brine resources. The target area is lithium-salt in basin-fill deposits. The most recent Phase 1 sampling program in 2024 returned an average grade of 131 ppm with a peak of 180.5 ppm lithium.
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Figure 3. The Black Rock South Lithium Brine Project is close to Tesla’s gigafactory and the Albermarle Silver Peak.
Figure 4. Black Rock South Lithium Brine Project to be explored in 2024
qualified person
Philip Thomas, BScGe, MBA, FAAME, MBAE, CMV, a Qualified Person as defined in NI Regulation 43-101, has reviewed the technical information underlying portions of this press release and has approved the disclosure contained therein. Mr. Thomas is a shareholder in American Solar’s lithium shares.
About American Salars Lithium Inc.
American Salars Lithium is an exploration company focused on exploring and developing high-value battery mineral projects to meet the demands of the advanced electric vehicle market. The company’s Pocitos 1 and Candela II projects in Argentina feature an inferred resource of NI 43-101.
All stakeholders are encouraged to follow the company on its social media accounts. LinkedIn, Twitter,
Tik Tok, Facebook And Instagram.
On behalf of the Board of Directors,
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“R. Nick Horsley”“
R. Nick Horsley, Chief Executive
For more information, please contact:
Salars Lithium Corporation
Phone: 604.880.2189
E-mail: info@americansalars.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts any responsibility for the adequacy or accuracy of this statement.
Disclaimer of Forward-Looking Information
Certain statements in this release are forward-looking statements that reflect management’s expectations regarding American Salar’s intention to continue to identify potential transactions and to make certain corporate changes and applications. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that could cause actual results, performance or developments to differ materially from those expressed in the statements. No assurance can be given that any of the events anticipated in the forward-looking statements will occur or, if they do occur, what benefits American Salar will obtain therefrom. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions that may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including the results of American Salar’s exploration or the review of properties acquired by American Salar. These forward-looking statements are made as of the date of this press release, and American Salars undertakes no obligation to update these forward-looking statements, or to update the reasons why actual results could differ from those anticipated in the forward-looking statements, except as required by applicable securities laws.
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