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Location: 38 km SW from Tolar Grande, Argentina
#700, 903 – 8th Ave. SWCalgaryAlberta, CanadaT2P 0P7
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On December 19, 2024, Lithium Chile Inc. announced that on December 16, 2024, the Company executed a binding letter of intent (“LOI”) with an arm’s length party (the “Buyer”) for the sale of Lithium Chile’s 80% interest in the Arizaro project. The Buyer is a large, Asian based company founded over two decades ago.
Following the proposed Project sale, Lithium Chile will retain its 89% interest in Block IV on the Salar de Arizaro spanning approximately 8,445 hectares.
Deposit TypesThe deposit type corresponds to a brine aquifer within a salar basin.Based on the available information, Salar de Arizaro is a mature salar, and one of the larger salars in the Argentinean altiplano. A thick halite core exists in the basin with underlying clastic sediments, forming the basis for the planned exploration program. Basin margins are interpreted to be fault controlled. The principal sources of water entering the project area are from surface water coming into the basin from the basin margins. To date, surface water flow has not been formally measured. Some groundwater inflow from natural recharge along the mountain fronts via alluvial fans is also believed to exist. In both cases, there appears to be limited mixing of the freshwater and brine in the basin due to density differences, although the mixing is believed to be more pronounced in the shallowest portion of the aquifer. As such, the freshwater entering the Project tends to stay in the upper part of the aquifer system on the edges of the basin, without moving to the central deep portion of the salar. These freshwater discharge areas tend to support altiplanic vegetation, especially along the margin.MineralizationThe mineralization for the project consists of a lithium-enriched brine, generally below 190 m bls, that is contained within the pore spaces of the basin-fill sedimentary strata in the salar basin. Also, with this deep brine, boron and potassium enrichment may be considered as having future potential for economic extraction. The mineralization of the brine has occurred over a long period of time via evapo-concentration in the Salar, and the near surface portion is believed to be diluted by precipitation and freshwater recharge. Laterally, the brine is continuous throughout the mine concessions given the depositional environment and topographical low point where evapo-concentration occurs.Based on the exploration to date within the Project concessions, the aquifer system is a lithium-enriched brine with generally consistent grades that are higher at depth. Approximate average lithium concentration in undiluted brine below 190 m ranges from about 200 – 360 mg/L, with elevated values in the southeast portion of the property below 110 m bls (exceeding 500 mg/L with depth).The boundaries of the mineralization are suspected to be the basin hard rock, fault-bounded boundaries, although some lithium-enriched brine may be contained in the fractures and/or pores of the rocks that form the basin boundary. Aside from lithium, the distribution and chemical composition of the brine in the entire salar sediments is not currently known, even though this type of information exists for the Lithium Chile concessions.
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