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Xantippe Resources Limited (ASX: XTC) (Xantippe, XTC, or the Company) is pleased to advise it has, pursuant to its rights to purchase the shares in Carolina Lithium Pty Ltd1, secured an option to acquire four additional tenements in close proximity to Lake Resources’ Kachi Project (Acquisition). These four tenements have a total area of 9,500Ha which brings the total XTC tenement holding to 21,900 Ha. All are prospective for lithium brine deposits in Catamarca, Argentina and are to be known as the Carachi Pampa Lithium Project.
- Option to acquire 4 additional land packages in Catamarca.
- La Fortuna, La Fortuna1, La Potola and Justina have a total area of 9,500Ha in close proximity to Lake Resources Kachi project.
- Potential for development of a world class Lithium Brine project with further ground acquisitions being considered.
- Exercise of option on Luz Maria completed.
Xantippe Managing Director, Richard Henning, commented:
Having recently finalised our investment of Luz Maria2 which gives XTC a total of 12,400 Ha, we have now secured an exclusive option over a further 9,500Ha. This Triangle is one of the most exciting and valuable regions in the world providing high purity lithium to drive the world’s electric vehicle future.
At Xantippe, we are fortunate to be working with two of the most prominent and successful families in Argentina and we look forward to a strong partnership as we strive to reach our mutual goal of clean and environmentally responsible Lithium production.
We are delighted to have acquired such high-quality projects, located next to Tier One clean lithium developers. We will commence exploration activities as soon as possible. We look forward to keeping shareholders updated on our progress. The acquisition of the additional land option adds to our strategy of extending our footprint in Catamarca with plans to develop a Lithium product sourced from brines that will offer a clean product using direct lithium extraction (DLE) which requires a smaller environmental footprint and uses less water.”
The Acquisition comprises four tenements being the La Fortuna, La Fortuna 1, La Potola and Justina in Catamarca, Argentina and are located in the Carachi Pampa Salt Flat and cover 9,571 Ha (together the La Fortuna Properties).
Figure 1: Location map of La Fortuna Properties
The lithium brine target in Carachi Pampa is a paleo salar found at depth and not entire related to current salt flat layout. This paleo salar continues under a more recent alluvial fan cover to the northeast and west of Lake Resources (LKE) areas. LKE areas are in the salt lake and are prone to flooding whereas the target areas are covered by alluvial fans and easy to access
Figure 2: Carachi Pampa Lithium Project tenements
This article includes content from Xantippe Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.