Alba Minerals Signs LOI To Purchase Rio Grande I Lithium Property
TSX VENTURE: AA
Vancouver, B.C / TheNewswire / August 9, 2017 - Alba Minerals Ltd. ("Alba") (TSX-V: AA.V: AXVEF:US Frankfurt: A117RU) We are please to report that it has signed a Letter of Intent (LOI) to purchase RIO GRANDE I Lithium Property ("The Property") in Salta, Argentina. The Property consist of 1491 hectares adjacent to LSC's Rio Grande Project, a company which entailes a strategic relationship with nearterm Lithium producer Enirgi Group.
The Rio Grande Salar is located in the northwestern part of the geographic region known as the "Puna" within the Province of Salta, close to the Chilean Border. Rio Grande is known for its accessibility and infrastructure due to its proximity to the historical La Casualidad Sulfur Mine District. The propitious regional and local, associated with an intense volcanic activity is responsible for the distinctive brine chemistry. Based on a a shallow sampling program executed by ADY in 2011 and own data, LSC Lithium Inc. reported elevated lithium-concentrations of up to 420 mg/L (Technical Report NI 43/101, December 2016) at surface. In addition, Rio Grande Salar has been identified as a mayor natural source of sodium sulphate in South America.
To the East, approximately 30% of the Rio Grande I Property covers Salar and alluvial fan which are the focus of Alba's lithium brine exploration prospects. The remaining 70% pertain to the former Mina Julia, a prolific extraction zone of Mina La Casualidad. The property is situated at a distance of approximately 5 hours (250km) from Enirgi Group's Salar del Rincon Lithium Carbonate Processing Plant ("DXP Plant") and can be accessed from Salta via Pocitos on national and provincial roads and railways that connect pacific and atlantic ports. The nearest station is Caipe about 75km from the property close to the Arizaro Salar.
Alba is very pleased to take advantage of this opportunity and add another strategic property to our portfolio of highly prospective lithium brine and clay projects in Nevada and Argentina given present and future demand of Lithium, as well as other key elements needed in the Clean Energy Industry.
About Alba Minerals Ltd.
Alba Minerals Ltd. Is a Vancouver based junior resource company with projects in North and South America, focusing on the development of our Lithium properties. Our Lithium Projects are located in Clayton Valley Nevada where we can earn up to a 50% interest in the project and just completed 46 hole drilling program. Our second lthium project Quiron II consist of 2,421 hectares of prospective exploration property in the Pocitos Salar, Province of Salta, Argentina. The Project is located approximately 7 km South East of Millennial Lithium - Southern Lithium JV Pocitos North Cruz Brine Project and 12 km northeast from the Liberty One Lithium Corp.
Please visit our web site for further information: www.albamineralsltd.com