Voltaic Minerals Corp (CVE:VLT) (OTCMKTS:VTCCF) said Thursday that it has agreed to pay $500,000 for six mineral claims in Argentina.
The Vancouver-based company said in a press release that the deal covers a total of almost 6,800 hectares (17,000 acres) in the South American country’s Salta province.
The claims are in the heart of what Voltaic describes as the world's lithium brine hotbed. They are less than 15 kilometers (9 miles) from Hombre Muerto, described as the premier lithium brine basin in Argentina, with a magnesium-to-lithium ratio of less than 4. The basin has been in production for more than 20 years, according to Votaic.
Voltaic said a private company known as 1146915 BC Ltd reached a deal on December 2 to acquire the claims from vendors, adding that under a deal less than three weeks later, the private company agreed to assign its rights to the claims to Voltaic for $500,000.
“It is an exciting time for the company as we embark on a very exciting new direction,” CEO Darryl Jones said in a statement.
He added that the Argentina claims complement Voltaic’s cobalt property in Montana.
Contact Dennis Fitzgerald at [email protected]