[from TraderHuddle, 4 April 2011]
Lithium Exploration Group Acquires Option On 104,000 Acres In NW Argentina
Lithium Exploration Group (OTCBB:LEXG) has acquired 60% ownership of five mining concessions in the Salta Province in northwest Argentina. The five concessions (“cateos”), totaling 104,765 acres, are located on the western edge of two salt lakes (“salars”) in the region, Salar de Rio Grande and Salar de Arizaro. The properties are under-explored to date, but have proven to have measurable levels of both lithium and potassium in the surface water.
All five properties are located in the Puna plateau, a lithium-rich, high-elevation basin on the eastern slopes of the Andes that straddles the Argentina-Chile border. The area is approximately 75km south of the Salar de Atacama and 100km northwest of the Salar de Hombre Muerto, both of which are actively producing lithium assets.
“We are very excited about the opportunity to explore these five cateos," said Lithium Exploration Group CEO Alex Walsh. "The group that staked the properties has already completed a NI 43-101 compliant technical report, including surface water tests and an outline for exploration of the assets. It is an amazing opportunity to explore the groundwater in a region that holds some of the largest deposits of lithium in the world.”
About Us
Lithium Exploration Group is a US based exploration and development company focused on the acquisition and development potential of lithium brines and other precious metals that demonstrate high probability for near-term production. Currently the company is focused on its Western Canada and South America properties. Lithium Exploration Group is a fully reporting company traded on the Nasdaq OTCBB under the symbol LEXG. www.lithiumexplorationgroup.com
