A couple of days ago, Advantage Lithium signed a letter of intent with Radius Gold Inc. pursuant to which the Company has acquired an option to earn up to a 70% interest in four lithium brine exploration projects located in the Mexican states Chihuahua and Coahuila. The four projects covering a total of approximately 37,000 hectares and are located in large, salar closed basins, in geological settings analogous to the Clayton Valley Basin. Historic work returned brine samples of 283 ppm Li at La Union and 189ppm Li at La Viesca.
In Mid-September, Advantage Lithium has entered into a letter of intent to acquire a 100% interest in the Stella Marys project, Salta Province, Argentine. Stella Marys lies immediately adjacent to Orocobre’s Salar de Salinas Grandes lithium-potassium-boron brine project, which hosts a near-surface, low sulfate inferred resource estimate of 56.5 million cubic meters of brine grading 795 mg/l lithium (239,200 tons of lithium carbonate equivalent (LCE)) and 9,547 mg/l potassium (1.03 million tons of potash equivalent) and 283 mg/l boron. Orocobre’s shallow inferred mineral resource is immediately adjacent to and potentially extends onto the Stella Marys property. The 1,472 ha property is located in the western sector of the Salinas Grandes salar within Argentina’s “Lithium Triangle” of developing and producing projects and has a good connection to the Argentinian infrastructure. The Company’s due diligence showed, that a previous operator may have completed a comprehensive exploration program of mapping and sampling, geochemistry, some drilling with pump tests, and preliminary engineering. These and other technical reports will be confirmed as part of the Company’s due diligence.
Background: Advantage Lithium is a Canadian mining company specializing in the development of lithium projects in North America. The company is an immediate neighbor to Albemarle’s Silver Peak Mine the only lithium brine mine in North America, and has its own water rights in Clayton Valley. Advantage Lithium is managed by the successful management team of Fission Uranium.
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Millennial Lithium acquires new project in Lithium Triangle

Last week, Millennial Lithium announced, that it has entered into an option agreement to acquire 100% of the Cauchari East Lithium Project. Cauchari East covers an area of 2,990 hectares on the eastern side of the Cauchari-Olaroz Salar, adjacent to Orocobre's producing Salar de Olaroz and Lithium Americas Corp.'s advanced-stage Cauchari-Olaroz. The property displays geological characteristics common with the deeper, buried salar-type mineralization that has been proven for both of those projects. Gravity and magnetotelluric survey profiles to the south of the property reported in the Orocobre technical report, and vertical electrical sounding survey results to the north of the property as reported by Lithium Americas both indicate that the brine-hosting aquifers extend beneath the Cauchari East project. Millennial plans to apply its rapid development strategy to the Cauchari East property. Pending government and communities approvals, the company will rapidly advance through geophysics to drilling in order to make a quick assessment of resources.
To earn 100% of the Cauchari East project, the company has to pay two million CA$ to the vendor plus 2.5 million CA$ in shares. Furthermore, Millennial has to do four million CA$ in exploration expenditures.
Background: Millennial Lithium is a Canadian development company focused on lithium projects in Argentina. The company has a better connection to the existing infrastructure than most competitors and aims to start production within three years.