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Arian SIlver diversifies into lithium in Mexico

Published: 02:44 11 Apr 2017 EDT

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Battery demand will drive demand for lithium believes Arian

Arian Silver Corp (LON:ACQ) has taken out an option to acquire three lithium exploration projects in Mexico.

The projects cover 1,600 hectares (ha) in Zacatecas State, a region known for its lithium deposits said Arian.

The vendor is a privately held company, Comercializadora Gacu SA de CV, with the cost up to US$200,000 payable in instalments over the next 12 months including a non-refundable deposit of US$20,000.

WATCH: Arian boss says new lithium projects "good, exciting opportunity" ...

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Jim Williams, Arian’s chief executive, said the option was part of a strategy to diversify from exclusively exploring silver deposits.

Preliminary exploration at the projects ( Pozo Hondo, Columpio, Abundancia) is already underway, he added and will be carried out alongside its silver exploration.

"The projects benefit from excellent access to the transport network, each a few kilometres from the main highway which runs between the cities of Zacatecas and Saltillo and are situated within a region known to contain lithium, as well as boron and sulphur."

The projects are subject to a 2% net smelter royalty payable to Comercializadora Gacu SA de CV.

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