In
March 2010, Orocobre announced extensive pit sampling at Salinas
Grandes that showed the highest average Lithium and Potassium
grades in Argentina, and which were comparable to the world-class
Atacama brines.
The sampling showed highly concentrated levels of lithium and
potassium over an area of the nucleus covering approximately
60 km2 with lithium concentrations over 2000 mg/l, reaching
a maximum of 3117 mg/l. In addition potassium values of greater
than 20,000 mg/l occur over an area of approximately 40 km2,
and boron values of greater than 500 mg/l occur over more than
50 km2. These results are considerably higher than the results
produced on other salars in Argentina during regional assessments
undertaken in the past.
The Salinas Grandes tenements are held by the Orocobre’s
85% owned subsidiary, South American Salars Pty Ltd.
Salinas Grandes - A New Chemistry
Standard in Argentina
The key Lithium and Potassium values and ratios from
Salinas Grandes are significantly higher than reported data
from other salars in Argentina, and maybe comparable to the
reported brines from the Salar de Atacama (the world's largest
and lowest cost Lithium producer from brines), when the lower
Mg/Li ratio is considered. Summary Salinas Grandes brine
chemistry information is presented in the table below.
Based on Orocobre’s initial findings, Salinas Grandes
could become one of the world's premier Lithium and Potash
assets, and its proximity to the company’s other interests
provides an opportunity for significant operational synergies.
Over the remainder of 2010, as Orocobre completes the Definitive
Feasibility Study with Toyota Tsusho Corporation for Olaroz,
the company will conduct further evaluations of the Salinas
Grandes discovery to determine whether to develop the deposit
as either a stand-alone Lithium project or as part of an integrated
plan.
Ownership
The Salinas Grandes property is owned 100% outright, or with
rights to purchase 100%, by South American Salars Pty Ltd,
an 85% owned subsidiary of Orocobre.
The majority of the area has been acquired by applications
over vacant ground followed by augmentation of a number of
smaller properties through acquisitions from local parties.
Sampling Results
The table below shows the values from Salinas Grandes are
higher than other major salars and are comparable to Salar
de Atacama (the world's largest and lowest cost Lithium production).
The Potassium to Lithium ratio is a high 11.9 indicating potential
high co-product benefits from potash.
*Pit sample results only
Future Operational Milestones
During the third quarter of 2010, Orocobre intends to commence
a drilling and sampling programme at Salinas Grandes together
with preliminary hydrological studies to further evaluate
the project.
Environmental Impact Statement approval has been already
received for this work in the Salta Province, where the majority
of the Salinas Grandes properties are located.
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