American Salars Acquires Lac Simard South Lithium Project in Quebec, Canada
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American Salars Lithium has signed a mineral claims purchase agreement with an arm’s length vendor to acquire 100 percent of the Lac Simard South Project consisting of 3,672.75 hectares covering 64 claim blocks.
The 100 percent owned Lac Simard South project is located 80 km southwest of Sayona’s Authier lithium project and spans the townships of Beauneville, Clérion, Delbreuil, and ChabertIt, accessible by gravel road near the municipality of Cadillac. The claims in the eastern sector are accessible by a network of logging roads and the southern and western sectors are accessible by boat or all-terrain vehicle and has very little overburden.
“This is the company’s first re-entry point into Quebec with the intention of building a strategic portfolio of hard rock lithium projects to compliment our lithium brine assets. The company’s long-term belief in a lithium price rebound is steadfast and now is the time to build a multi-jurisdictional lithium company,” said American Salars CEO and Director Nick Horsley.
The company intends to begin planning for a comprehensive work program to identify targets and test areas of immediate interest in this active lithium exploration, production, and processing region of mining friendly Quebec. Sayona Mining’s Abitibi Hub, comprised of its North American lithium, Authier Lithium, and Tansim lithium projects are located nearby and boast a staggering aggregate measured and indicated resource of 111 million tonnes grading 1.14 percent lithium, the largest lithium resource in Quebec.
This lithium hub is more readily accessible, providing relatively lower cost exploration, than James Bay, and the area is home to a fully operating lithium concentrator and planned lithium carbonate/hydroxide conversion plant thereby reducing the need for redundant processing downstream solutions and capital expenditure in the event of an economic discovery.
American Salars Lithium is an exploration company focused on exploring and developing high-value battery metals projects to meet the demands of the advancing electric vehicle market. The company’s Pocitos 1 and the Candela II lithium salar projects in Argentina both feature a NI 43-101 inferred resource.
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