- Alpha Lithium (ALLI) acquires new property and expands second core area in Hombre Muerto Salar, Argentina
- Hombre Muerto houses one of the most desirable lithium brines in the world, rivalled only by the Salar de Atacama in Chile, primarily due to its high lithium concentrations
- This latest acquisition brings Alpha’s total to 4,087 Hectares
- Alpha also agreed to pay US$750,000 for the property, which has been privately owned by the same individual since 1957
- Alpha Lithium Corporation (ALLI)is down 1.27 per cent and is trading at C$0.78 at 12:03 pm ET
Alpha Lithium Corporation (ALLI) is increasing its existing position in the Hombre Muerto Salar, Argentina.
The company has agreed to purchase a 100 per cent working interest in an additional 287 Hectares in this world-class salar.
Hombre Muerto houses one of the most desirable lithium brines in the world, rivalled only by the Salar de Atacama in Chile, primarily due to its high lithium concentrations, exceptional brine flow rates and minimal levels of impurities.
It has attracted billions of dollars of investment from the likes of Livent Corporation, Galaxy Resources and Korean giant, POSCO, amongst others.
Alpha expects to build on this acquisition in this world-renowned salar.
Hombre Muerto is the highest quality and longest producing salar in Argentina and it benefits from an extensive amount of infrastructure developed to support Livent Corporation’s 25 years of production history.
Through a privately negotiated purchase and sale agreement the Company has acquired a 100 per cent interest in 287 Hectares – free of any third-party royalties – in the heart of the Hombre Muerto Salar.
This latest acquisition brings Alpha’s total to 4,087 Hectares. It’s position in Hombre Muerto, just as it is in neighbouring Tolillar Salar, is 100 per cent owned.
It has agreed to pay US$750,000 for the property, which has been privately owned by the same individual since 1957.
Alpha’s newest asset is adjacent to POSCO’s property, which was purchased from Galaxy Resources in 2019 for US$280 million.
POSCO has since been aggressively developing their project and is currently constructing a lithium production facility near to Alpha’s property.
Brad Nichol, President and CEO of Alpha noted his local team has a definite edge, “Our team has set a pace in Argentina that is unmatched.
They have hundreds of years of combined experience in Hombre Muerto, Tolillar and all the major salars in Argentina and Chile.
The progress we have made in the last year is a result of our team relying on their experience and strong, established relationships.
This is a clear benefit to our shareholders – and it will continue to be so as we increase our presence in Hombre Muerto, now our second core area. We are excited about developing this world-class asset, surrounded by numerous lithium giants.”
Alpha has $34.2 million in cash and equivalents and is well-positioned to aggressively pursue high-quality growth in Argentina’s Lithium Triangle.
Alpha Lithium is a team of industry professionals and experienced stakeholders focused on the development of the Tolillar and Hombre Muerto Salars.
Alpha Lithium Corporation (ALLI)is down 1.27 per cent and is trading at C$0.78 at 12:03 pm ET.
