Alpha Lithium adds to Argentina salar holding
Alpha Lithium (TSX.V:ALLI) said today that it is acquiring 3,800 hectares in Argentina’s Hombre Muerto Salar.
Alpha calls it the world’s highest quality productive lithium brine salars, comparable only to the Salar de Atacama in Chile.
Alpha signed a letter of intent with Argentina Prime Holdings, the owner of the property, to issue 5 million common shares of the Company in exchange for 100% of the issued and outstanding securities of TargetCo.
"Hombre Muerto is the highest quality lithium deposit in Argentina. It is home to Livent Corp’s Fenix operation, which has been in commercial production for over 25 years. Hombre Muerto also houses Korean giant, POSCO’s Sal de Oro project, which it acquired from Galaxy Resources Limited (“Galaxy”) for US$280 million. Additionally, the southern portion of Hombre Muerto is home to Galaxy, who recently announced an AU$4 billion merger with Orocobre Limited," writes Alpha Lithium.
Alpha's current land holding is +27,500 hectares at Argentina’s Tolillar Salar.