American Salars Secures Candela II Lithium Brine Project Option, 457k Tonnes Lithium Equivalent

American Salars Lithium Inc. (CSE: USLI, Frankfurt: Z3P) has announced a significant development in its operations with the signing of an option agreement with Spey Resources Corp. (“Spey”) and A.I.S Resources Limited. (“AIS”) to acquire full ownership of the Candela II Lithium Brine Project. Situated in the Incahuasi Salar, Salta Province, Argentina, this project represents a strategic addition to American Salars' portfolio in the lithium sector.

The Candela II Lithium Brine Project features a mineral resource estimate (MRE) conducted under the guidelines of National Instrument 43-101 (NI 43-101) by WSP Australia Pty. Ltd. According to this report, the project encompasses approximately 86,000 tonnes of lithium metal, equivalent to an estimated 457,500 tonnes of in-situ lithium carbonate equivalent (LCE). Additionally, the report forecasts a lithium yield of 48,000 tonnes of LCE from 9,000 tonnes of lithium metal, assuming no losses during the extraction process.

To further assess the project's viability, Ekosolve Ltd., a leading player in Direct Lithium Extraction (DLE) technology, conducted extraction efficiency tests using 200 litres of brine sourced from the Candela II project. Impressively, these tests yielded a lithium extraction rate of 93.2%. Notably, the lithium content assayed from hole 5 on Candela II proved to be ideal for the extraction process, with solvents achieving a remarkable recovery rate exceeding 99% in each cycle.

Spanning 3,000 hectares (equivalent to 30 square kilometers), the Candela II Lithium Brine Project is strategically positioned for DLE initiatives, complementing American Salars' existing portfolio of Lithium and Battery Metals projects. Moreover, the project's proximity to major lithium players such as Ganfeng, Allkem (now Arcadian Plc), Power Minerals, and Patagonia Lithium on the Incahuasi Salar further enhances its appeal. Furthermore, the partnership with Spey Resources Corp. and A.I.S Resources Limited underscores American Salars' collaborative approach to project development and resource acquisition.

Looking ahead, American Salars anticipates conducting drilling and pumping tests on the Candela II project. These tests aim to expand and refine the project's mineral resource estimate in compliance with NI43-101 standards, thereby providing a more comprehensive understanding of its resource potential and paving the way for future development initiatives.

The option agreement signed by American Salars with Spey Resources Corp. and A.I.S Resources Limited marks a significant milestone in the company's strategic growth trajectory. With a promising mineral resource estimate, favorable extraction characteristics, and strategic location, the Candela II Lithium Brine Project holds immense potential to contribute to American Salars' leadership in the lithium sector and drive sustainable value creation for its stakeholders.