In the last month, Millennial Lithium has moved to acquire projects in two large land packages in Argentina’s “Lithium Triangle,” as demand for the metal is expected to skyrocket.
Millennial Lithium Corp. (ML:TSX.V) has been moving quickly to acquire stakes in Argentina. In September it agreed to acquire 100% of the Pastos Grandes Lithium Project in Salta Province and other prospects, and also entered into an option agreement to acquire 100% of the Cauchari East Lithium Project in Jujuy Province. Both projects lie within the “Lithium Triangle,” the area of Argentina, Bolivia and Chile that may contain as much as 70% of the world’s long-term supply of lithium.
The company plans to explore these prospects without delay. In a Sept. 28 announcement, Millennial Lithium stated it “plans to apply its rapid development strategy to the Cauchari East Property. Pending government and community approvals, the Company will advance through geophysics to drilling in order to make, in as short an amount of time as possible, an assessment of resource potential. As warranted, the Company plans on advancing the project through the necessary work and studies to estimate a resource and, if a resource can be proven, to determining if commercial production is feasible.”
In Caesars Report,Thibaut Lepouttre wrote that “the Cauchari East lithium project is part of the salar where both Orocobre (ORL:TSX; ORE:ASX) and Lithium Americas (LAC:TSX; LHMAF:OTCQX) are working on two advanced-stage lithium projects.” He noted that “This seems to be an interesting acquisition in an already well-known salar and it validates the company’s intentions to execute a ‘rapid development strategy’ which could add the Cauchari East project to the current pipeline of lithium assets.”
Millennial released an NI-43-101-compliant Technical Report on the Pastos Grandes project, which used historical data. The company noted that “Previous work identified in the report indicates the Pastos Grandes Salar exhibits significant lithium and potassium brines.”
In The Equedia Letter, Ivan Lo noted that “you can literally draw a line from Salar del Hombre Muerto, where FMC [FMC:NYSE] (one of the world’s largest producers of lithium) is currently producing, up through a number of lithium projects in development, to the top end where Orocobre is also producing. Along that trend, you have Millennial Lithium’s Pastos Grandes project, which sits right in the place you’d expect it to.” He added, “Millennial is right in elephant country, smack in the middle of a huge trend, with an asset that has all the earmarks of a strong lithium project.”
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1) Patrice Fusillo compiled this article for Streetwise Reports LLC. and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or family own, shares of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
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( Companies Mentioned: ML:TSX.V, )