- Edison Lithium’s (EDDY) prospective lithium brine claims are located in the Antofalla Salar and the Pipanaco Salar in Argentina
- In Q1 2023, the company is expecting to receive approval for its initial Environmental Impact Assessment Report for the prospecting phase of exploration of 24 claims covering 100,000 hectares
- Once the road construction and drilling permits are approved, drilling will commence on claims #29 and #30
- The company also announces that it intends to extend the expiry date of 9,700,000 common share purchase warrants issued last February by 24 months
- Edison Lithium Corp. is a Canadian-based mining exploration company focused on developing cobalt, lithium, and other energy metal properties
- Edison Lithium Corp. (EDDY) opened trading at C$0.09
Edison Lithium’s (EDDY) prospective lithium brine claims are located in the two geological basins known as the Antofalla Salar and the Pipanaco Salar in Argentina.
In the first quarter of 2023, the company is expecting to receive approval for its initial Environmental Impact Assessment (EIA) Report for the prospecting phase of exploration, which includes 24 claims covering approximately 100,000 hectares in the Antofalla Salar. Once the permits are approved, the company intends to perform geophysics on select claims, using the TEM (transient electromagnetic) method to identify drilling targets.
Claims #29 and #30 are Edison’s most advanced claims and the main focus for future exploration work. Geophysics results suggest the presence of a potential brine zone of at least 300 metres in thickness. Once the road construction and drilling permits are approved, the company plans to commence drilling.
Edison has been approached by various potential collaborators for the development of claims. The company may enter into collaboration agreements to advance multiple claims and simultaneously develop a larger number of claims in the Salar of Antofalla.
Nathan Rotstein, CEO of Edison Lithium, commented on the news.
“Argentina is second only to Bolivia for the largest identified lithium resources and has the third largest quantity of commercially viable lithium reserves behind Chile and Australia. A number of companies are actively looking for lithium acquisitions in anticipation that prices for the key raw material in electric-vehicle batteries will stay high for years to come. Consequently, we have had inquiries from several parties interested in acquiring properties in the lithium triangle from Edison.”
The company also announces that it intends to extend the expiry date of 9,700,000 common share purchase warrants by 24 months to February 26, 2025. The warrants were issued under a private placement and are currently set to expire on February 26, 2023.
Edison Lithium Corp. is a Canadian-based junior mining exploration company focused on acquiring, exploring and developing cobalt, lithium, and other energy metal properties.
Edison Lithium Corp. (EDDY) opened trading at C$0.09.
