AIS Resources Acquires 20% Equity Interest in Tech One Lithium Resources Corp. Incahuasi Lithium Salar, Argentina
VANCOUVER, British Columbia, March 23, 2021 (GLOBE NEWSWIRE) -- A.I.S. Resources Limited (TSX: AIS, OTCQB: AISSF) (the "Company" or "AIS") is delighted to report that AIS Resources has acquired from Tech One Lithium Resources Corp. a 20% interest in Mining Licence File Number 23262 (Candela II) covering 3 sq km on the Incahuasi Salar in the lithium triangle in Argentina. The Candela II licence neighbours Gangfeng Lithium, China’s largest producer of the battery metal and Orocobre, a lithium producer in Argentina. Tech One Lithium Resources Corporation (“Tech One”), a private company, has optioned the Exploration license for 12 months to complete due diligence and further exploration work, and has the right to acquire 100% of the property for USD one million dollars (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.
Fig. 1 – Concession Map of main land holders:
Tech One has appointed AIS as its operator and exploration team. A one-year exploration plan has already been outlined by AIS’s technical team. Tech One can acquire the 20% held by AIS (for a total
of 100%) by paying US$6,000,000 to AIS if there is a resource estimate of at least 45,000 tonnes of lithium metal equivalent, and this increases by US$250,000 for each increment of 5,000 tonnes.
Previous explorers have sampled brines between 270-300ppm, from the top 50 metres of the Salar.
Fast Track Ekosolve Lithium Processing Facility
Tech One advises they have 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 available to date. 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 a plant being significantly less than other processes available and its modularity and the operational expenditure being in the mid $2,000 per tonne due to the ability to recover 95% of the solvent for reuse. The near zero carbon emission footprint is due to no evaporation ponds required and minimal input chemicals required to remove unwanted elements such as magnesium. Ekosolve is licensed to University of Melbourne, Australia.
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