- AIS Resources (AIS) initiates exploration program with Tech One Lithium Resources Corp. at Incahuasi Lithium Salar, Argentina
- AIS earned a 20 per cent interest in Mining Licence File Number 23262, covering 3 sq kilometres on the Incahuasi Salar
- Initially, a US$450,000 budget will be spent by Tech One on TEM geophysicsoption
- The fee paid by Tech One was US$100,000 and a further fee of US$100,000 payable by Tech One in six months’ time
- AIS has received the first payment for exploration
- A.I.S. Resources Limited (AIS) is down 6.67 per cent and is trading at 0.070 at 2:31 pm ET
A.I.S. Resources Limited (AIS) and Tech One Lithium Resources Corporation have commenced exploration at the Candela II property at Incahuasi Salar (salt lake).
In summary, AIS earned a 20 per cent interest in Mining Licence File Number 23262, covering 3 sq kilometres on the Incahuasi Salar in the lithium triangle in Argentina by negotiating the property, developing an exploration and processing plan for Tech One.
Initially, a US$450,000 budget will be spent by Tech One on TEM geophysics, drilling and brine analysis.
A 200-litre sample is being collected for Ekosolve, the selected processor to process the brines at the University of Melbourne pilot facility, chemical engineering department in Australia.
Gangfeng Lithium, China’s largest producer of the battery metal, Orocobre, a lithium producer in Argentina and PepinNini, an ASX explorer, all have mining licences Incahuasi Salar.
Tech One Lithium Resources Corporation has optioned the Exploration license for 12 months to complete due diligence and further exploration work.
It has the right to acquire 100 per cent of the property for US$1M.
The option fee paid by Tech One was US$100,000 and a further fee of US$100,000 payable by Tech One in six months.
AIS has received the first payment for exploration.
Tech One advises they have signed a facility fee agreement to utilize the Ekosolve™ lithium Solvent Exchange Extraction process that can efficiently manage the processing of the brines to produce lithium carbonate with a grade higher than 99.2 per cent and a recovery of 97 per cent far exceeding any ion exchange or adsorption process available to date.
Ekosolve™ is licensed to the University of Melbourne, Australia.
The key advantage of the Ekosolve system is the high rate of lithium yield at 97 per cent, and 95 per cent of the solvent is reclaimed.
Other systems such as adsorption achieve 72-80 per cent, fractional crystallization 50-70 per cent, and ion exchange up to 90 per cent.
In adsorption and ion exchange, extra processes may be required to manage the magnesium and boron in the brines, whereas this is not an issue with the Ekosolve process. Hence the capital and operation expenditure is usually much lower.
There are no ponds required which is a more eco-friendly solution.
A.I.S. Resources Limited is a publicly-traded investment issuer listed on the TSX Venture Exchange focused on precious and base metals exploration.
A.I.S. Resources Limited (AIS) is down 6.67 per cent and is trading at 0.070 at 2:31 pm ET.
