With the prospects of acquiring lithium brine assets in the Puna region of northern Argentina, Li3 Energy has signed a letter of intent with a private Argentinean company. The location in which Li3 is looking into is known as the Rincon South Property ("Rincon South") which covers approximately 4,250 acres (1,720 hectares), comprising 14 claims on the southern portion of the Salar ("salt lake") de Rincon, located adjacent to an advanced lithium brine pumping and production project owned by Sentient ("Sentient"), and which was previously developed by Rincon Lithium Limited ("Rincon Lithium"), a subsidiary of Admiralty Resources NL, of Australia.
Li3 Energy's CEO Luis Saenz stated, "We believe this location is an excellent core project for rapid development. Given that previous works have included the establishment of roads, weather stations, a nearby pilot plant, evaporation ponds and homogeneity of lithium across the salar, we are confident that we can quickly begin implementing our strategic plans targeting realistic near term production at Rincon South."
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About Li3 Energy, Inc.
Li3 Energy, Inc. is an early stage, U.S. public company currently pursuing a business strategy in the lithium brine mining and energy sector in the Americas, with an initial focus on identifying and acquiring opportunities in Peru, Argentina, Chile and the United States. Li3 Energy aims to acquire a significant portfolio of lithium brine deposits in the Americas for the purpose of development and production in order to meet growing market demand and to support the clean energy and green energy initiatives being implemented globally.
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