Proactive Investors - Run By Investors For Investors

Voltaic Minerals agrees to buy Argentina mineral claims for $500,000

The claims are in the heart of what Voltaic describes as the world's lithium brine hotbed
Map of Argentina
The deal covers almost 6,800 hectares (17,000 acres) in Argentina's Salta province

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.

READ: Voltaic Minerals to buy cobalt group with assets in Montana

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]


 

View full VLT profile View Profile

Voltaic Minerals Corp Timeline

Related Articles

salar del diablo
16:51
One World sees a lot of similarities between Salar del Diablo and Salar de Atacama, the world’s largest lithium brine deposit which produces 27% of the world’s supply
Electric car being charged
February 04 2019
Last year, the firm said it would buy L2 Cobalt Inc, which the firm believes is sitting on a cobalt-rich base metal deposit in Montana
Brine flowing out of a pipe
March 06 2019
Tesla and its Gigafactory for manufacturing lithium batteries in vast quantities is also in Nevada
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use