AIS starts exploration with Tech One at Candela II
2021-04-01 09:35 ET – News Release
Mr. Phillip Thomas reports
AIS RESOURCES INITIATES EXPLORATION PROGRAM WITH TECH ONE LITHIUM RESOURCES CORP. AT INCAHUASI LITHIUM SALAR, ARGENTINA
AIS Resources Ltd. has commenced exploration at the Candela II property at Incahuasi Salar (salt lake).
In summary, AIS earned a 20-per-cent interest in mining licence file No. 23262 covering three square kilometres on the Incahuasi Salar in the lithium triangle in Argentina by negotiating the property, and developing an exploration and processing plan for Tech One Lithium Resources Corp. Initially a $450,000 (U.S.) budget will be spent by Tech One on TEM geophysics, drilling and brine analysis. A 200-litre sample is being collected for Ekosolve, the selected processor to process the brines at the University of Melbourne pilot facility, chemical engineering department in Australia.
Gangfeng Lithium, China’s largest producer of the battery metal, Orocobre, a lithium producer in Argentina and PepinNini an ASX explorer all have mining licences on the Incahuasi Salar. Tech One Lithium Resources has optioned the exploration licence for 12 months to complete due diligence and further exploration work, and has the right to acquire 100 per cent of the property for $1.3-million. The option fee paid by Tech One was $100,000 (U.S.) and a further fee of $100,000 (U.S.) payable by Tech One in six months time. AIS has received the first payment for exploration.
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 per cent and a recovery of 97 per cent far exceeding any ion exchange or adsorption process available to date. Ekosolve is licensed to University of Melbourne, Australia.
The key advantage of the Ekosolve system is the high rate of lithium yield at 97 per cent and 95 per cent of the solvent is reclaimed. Other systems such as adsorption achieve 72 per cent to 80 per cent, fractional crystallization 50 per cent to 70 per cent, and ion exchange up to 90 per cent. In adsorption and ion exchange extra processes may be required to manage the magnesium and boron in the brines whereas this is not an issue with the Ekosolve process. Hence the capital and operation expenditure is usually much lower. There are no ponds required which is a more eco-friendly solution.
Technical information in this news release has been reviewed and approved by Phillip Thomas, BSc Geol, MAIG, who is a qualified person under the definitions established by the National Instrument 43-101.
About AIS Resources Ltd.
AIS is a publicly traded investment issuer listed on the TSX Venture Exchange focused on precious and base metals exploration. AIS’s value add strategy is to acquire prospective exploration projects and enhance their value by better defining the mineral resource with a view to attracting joint venture partners and enhancing the value of its portfolio. The company is managed by a team of experienced geologists and investment bankers, with a record of successful capital markets achievements.
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