Candela II Project, Incahuasi Salar, Lithium Triangle Argentina
AIS Resources currently has a 20% interest in a mining licence in the highly prospective Incahuasi Salar located in Argentina’s world-renown Lithium Triangle. The Candela II licence covering 3 sq km, neighbours a project owned by Gangfeng Lithium, China’s largest producer of the battery metal and Orocobre (ASX:ORE), a lithium producer in Argentina.
Our partner in the Candela II Project is Spey Resources Corporation (CSE: SPEY), a public company, that has optioned the Exploration license for 12 months to complete due diligence and further exploration work. Tech One has the right to acquire 100% of the property for US$1,000,000 (CAD1.3 million). The option fee paid by Tech One was US$100,000 and a further fee of US$100,000 payable by Tech One in six months time.
Aerial view of the Salar Candela II Project and the Incahuasi Salar located in the Lithium Triangle in Argentina.
AIS Resources – Operator and Exploration Team
Tech One appointed and contracted AIS to be the operator and exploration team for the Incahuasi Salar Candela II Project – with the one-year exploration plan outlined by AIS’s technical team. Upon a successful resource outcome, Tech One has the option to acquire AIS’ 20% stake by paying US$6,000,000. This is based upon establishing a resource estimate of at least 45,000 tonnes of lithium metal equivalent. The fee increases by US$250,000 for each increment of an additional 5 tonnes. Previous explorers have sampled brines between 270-300 ppm from the top 50 metres of the Incahuasi Salar Candela II Project.
L: Concession Map of the main land holders neighbouring Salar Candela II. R: Google Earth view of the Incahuasi Salar where previous explorers have sampled brines between 270-300ppm, from the top 50 metres of the Salar.
Fast Tracking the Ekosolve Lithium Processing Facility
As part of the exploration and development plan for the Incahuasi Salar Candela II Project, Tech One signed a facility fee agreement to utilize the Ekosolve™ Lithium Solvent Exchange Extraction process that can efficiently manage the processing of the brines to produce lithium carbonate with a grade higher than 99.2% and a recovery of 97% far exceeding any ion exchange or adsorption process currently available. Ekosolve have demonstrated a three-hour residence time to produce lithium chloride – a base material for producing lithium carbonate.
Tech One selected the process based on it being proven at the University of Melbourne using Argentine brines. The capital cost of building a processing plant is significantly less than other processes currently available. The modularity and the operational expenditure is in the mid $2,000 per tonne due to the process’ ability to recover 95% of the solvent for reuse. The process has a near zero carbon emission footprint as no evaporation ponds are required with minimal input chemicals needed to remove unwanted elements such as magnesium. Ekosolve™ is licensed to University of Melbourne, Australia.