Key Points in this Announcement:
- LEXI is a green energy company focused on the acquisition,
exploration, and development of lithium brine assets in Argentina.
LEXI's portfolio includes approximately 72,000 hectares.
- The drilling campaign has already reached the first 40 meters,
and a pre-collar is being cemented in place before continuing to
drill the well with a state-of-the-art Boart Longyear LF90D smart
drill.
- Initial fluid samples were obtained and will be sent to one of
the Alex Stewart Group Laboratories for complete brine
analysis.
- The highly experienced, hyper-local team brings a wealth of
knowledge and hands-on familiarity with the Antofalla Salar.
- LEXI has provided a new generator with greater capacity to the
Community of Antofalla and improved and maintained over 22 km of
local roads.
Lithium Energi Exploration Inc. (TSXV: LEXI) (the “Company” or
“LEXI”) is pleased to announce the commencement of its Antofalla
North Project drilling campaign. This significant milestone marks
the start of a new chapter in LEXI's journey to provide the lithium
needed to actually build the green energy economy.
The drilling campaign, led by Dr. Gerardo Romero Agüero,
President of Lithium Energi Argentina (LEA) S.A. and LEXI Director,
has already reached the first 40 meters of the anticipated
400-meter well, with a state-of-the-art Boart Longyear LF90D smart
drill. Initial fluid samples were obtained and are now being sent
to Alex Stewart Laboratories to yield a complete spectroscopic
analysis of brine chemistry and lithium concentrations.
“We are optimistic about the potential of the Antofalla North
Project," said Mr. Agüero. "The speed and quality of the work
undertaken by our campaign team are highly encouraging, and our
commitment to safety, environmental care, community relations, and
compliance with international quality standards is unwavering.”
The drilling campaign is being executed by a highly experienced,
hyper-local team, ensuring the best possible understanding of the
Antofalla Salar and its potential. The operation is being carried
out entirely by companies from Catamarca, demonstrating LEXI's
commitment to local empowerment and responsible practices.
In line with its commitment to the local community through
infrastructure development, LEXI has provided a new generator with
greater capacity to the Community of Antofalla. This initiative,
coupled with the improvement and maintenance of over 22 km of local
roads, facilitates LEXI's operations and significantly benefits
local residents, tourists, and other companies in the area. These
roads also provide access to other LEXI properties in the Antofalla
North project.
LEXI's CEO, Ali Rahman, added, "This is a proud moment for LEXI.
The commencement of drilling in under 90 days from takeover by new
management underscores the company’s capacity to not only implement
the company’s green energy strategy but, more importantly, to
execute it. We are confident that 2023 will be a breakout year for
LEXI as we continue to drill our impressive portfolio of properties
in the Antofalla Salar.”
At its conclusion and based on the data obtained from the brine
and core samples and pump tests, the campaign is expected to yield
an NI 43-101 resource estimate, which the Company believes could be
ready for publication as early as Q4 of 2024. The technical content
of this news release has been reviewed and approved by Mr. Murray
Brooker, RP. Geoscientist 10,086, a consultant of the Company, and
a qualified person as defined by National Instrument 43-101.
About Lithium Energi Exploration, Inc.
Lithium Energi Exploration, Inc. is an exploration company
focused on the acquisition, exploration, and development of lithium
brine assets in Argentina. Headquartered in Toronto, Ontario, with
offices in Catamarca, Argentina, the Company's shares are listed on
the TSX Venture Exchange (TSXV: LEXI), the Frankfurt Exchange (FSE:
L09), and the U.S. over-the-counter market (OTC: LXENF). LEXI's
portfolio of prospective lithium brine concessions in the Argentina
Province of Catamarca (heart of the lithium triangle) includes
approximately 57,000 hectares and a 20% interest in Triangle
Lithium Argentina, S.A., which owns an additional 15,000 hectares -
all located in and around the Antofalla Salar, one of the largest
basins in the region, which is over 130 km long and up to 20 km
across. LEXI is committed to innovation, sustainability, and
quality, striving to differentiate itself from other players in the
industry to maximize its potential for success. For more
information, please visit our website at lithiumenergi.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Ali Rahman”
________________________
Ali Rahman, Chief Executive Officer & Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
statements.
These forward-looking statements are based on reasonable
assumptions and estimates of management of the Company at the time
such statements were made. Actual future results may differ
materially as forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to materially
differ from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors, among other things, include: the results of preliminary
testing proving accurate and repeatable over time and at commercial
scale; the absence of material changes with respect to the Company
and its businesses; possible variations in mineralization, grade or
recovery rates; actual results of exploration activities;
conclusions of future economic evaluations; fluctuations in general
macroeconomic conditions; fluctuations in securities markets;
fluctuations in spot and forward prices of commodities;
fluctuations in currency markets (such as the Canadian dollar to
United States dollar exchange rate); change in national and local
government, legislation, taxation, controls, regulations and
political or economic developments; risks and hazards associated
with the business of mineral exploration, development and mining
(including environmental hazards, industrial accidents, unusual or
unexpected formations pressures, cave-ins and flooding); the
speculative nature of mineral exploration and development
(including the risks of obtaining necessary licenses, permits and
approvals from government authorities); and title to properties;
failure to of the parties to the Transactions to comply with the
terms and conditions of the definitive agreements relating to the
Transactions; and the use of proceeds. Although the forward-looking
statements contained in this news release are based upon what
management of the Company believes, or believed at the time, to be
reasonable assumptions, the Company cannot assure its shareholders
that actual results will be consistent with such forward-looking
statements, as there may be other factors that cause results not to
be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release. Except
as required by law, the Company assumes no obligation to update the
forward-looking statements of beliefs, opinions, projections, or
other factors, should they change, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230613264364/en/
For media inquiries: Ian Murphy press@lithiumenergi.com (310)
689-6397
Alexis Practical Tactica... (AMEX:LEXI)
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