Li3 Energy, Inc., a plucky young US company pushing the limits of lithium acquisition and energy production technology, announced today that it has acquired several lithium and potassium assets in Peru as a result of the execution of a definitive agreement.
The total acquisition consists of 9 claims, comprising 19.5k acres, located in Puno (Loriscota Project), Tacna (Suches Project) and Moquegua (Vizcachas Project) Provinces, at an average elevation of 14k feet above sea level.
The Projects are in an area previously studied in 1981 by the Peruvian Mining Ministry, whose survey indicated high concentrations of both lithium and potassium, with additional, more recent sampling indicating a productive potential on par with more advanced commercial operations in South America, making the Projects a potential gold mine for the Company.
With mineralization equivalent to that found in salt deposits of evaporitic lakes, which are well known for their lithium production potential, the Projects collectively represent a low-cost, high-yield, energy efficient and environmentally friendly production envelope based on typical evaporative brine techniques.
The previous signing of a definitive agreement to obtain options for 100% interest on up to some 170k acres of a strategically advantageous lithium brine deposit by Li3 near Tonopah, Nevada in the Big Smoky Valley – and the signing of a letter of intent to acquire options on up to 80% interest on some 123k acres of prime Chilean salt flats, including the highly productive Salar de Atacama, as well as an option to obtain 85% of some 90k acres on the Centenario, Cauchari, Pocitos, and Rincon salt flats in Argentina – have collectively positioned Li3 to capitalize on the potential of its core energy production technologies.
All of these acquisitions make Li3 one of the world’s leading holders of lithium-producing property, a very strong position to be in considering the skyrocketing demand for such green energy technologies as the Company specializes in.
CEO of Li3, Luis Saenz, was excited about the Peruvian acquisitions and noted the “diligent efforts” by the Company’s geological assessment team in helping to identify and obtain these promising sites.
Saenz noted the robust portfolio of lithium production capability as making Li3 an “important player in this sector”, and said that the ability to leverage such status in the future, as outstanding options are closed, would make the Company remarkably well-positioned to generate substantial returns for investors as development and advancement ensue.