Rodinia Lithium
Rodinia Lithium is a Canadian mineral exploration company with a primary focus on Lithium exploration and development in North and South America. The Company is positioned to capitalize on the explosive demand for lithium carbonate expected from the paradigm shift to mass adoption and use of key lithium applications (lithium-ion batteries, glass ceramics, greases, pharmaceuticals, etc.).
Rodinia Minerals snaps up three lithium projects in Argentina from Rio Tinto Minerals
Rodinia Minerals (TSX-V: RM) has expanded its portfolio of lithium projects through the acquisition of three lithium-brine projects (Diablillos, Centenario and Ratones) in Argentina from a subsidiary of Rio Tinto Minerals, a significant player in the talc and borates markets.
Rodinia is paying a combined price of approximately US$2.9 million, and the Diablillos and Centenario projects are subject to NSR royalties of 1.5% and 1% respectively.
The Diablillos project is the most significant asset in the transaction, which encompasses 2,700 hectares. Previous (non NI 43-101 compliant) studies completed on the project reported lithium concentrations averaging 960 milligrams per litre with a magnesium-lithium ratio of 3.96.
"Diablillos is reportedly the highest grade salar in the Argentine Puna, ranking alongside the best lithium bearing salars,” William Randall, Vice President, Exploration commented, “The project is also adjacent to Silver Standard's silver-gold deposit of the same name, and only 11 kilometres from Salar del Hombre Muerto where FMC Lithium Corporation has its operating mine. As such, the project has excellent infrastructure for the area."
The smaller Centenario and Ratones projects cover 682 and 600 hectares respectively, and both are believed to host lithium-rich brines with “good potential”. Rodina also noted that Ratones, which is only 8 kilometres from Diablillos, is connected by an existing road already which opened up options with regards to production.
Rodinia Mineral’s primary asset is the Clayton Valley project in Nevada, where it is actively planning and permitting and expanded 20-hole program that surrounds the only operating lithium brine mine in North America.
"Today's announcement reinforces Rodinia's vision of building a long-term, low-cost producer of lithium brine. In conjunction with our flagship Clayton Valley project in Nevada, and our previous Argentine acquisition of Salinas Grandes, the acquisitions of Diablillos, Centenario and Ratones builds a strong position in South America, and a stable of high quality lithium brine exploration projects,” David Stein, President and CEO said, “We plan to work diligently over the coming months to review and prioritize our pipeline of brine prospects".
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Other Rodinia Lithium articles
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22/07/10 Rodinia C$5 million Equity Finance to Advance Salar de Diablillos Lithium Project
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26/10/09 Rodinia Minerals is seeking to ride the wave of strong long term demand for lithium
Other Rodinia Lithium news
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22/07/10 Rodinia to raise at least C$5 mln for Argentine lithium brine projects
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17/06/10 Rodinia Minerals starts next exploration phase at Salar de Diablillos lithium project
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16/06/10 Rodinia Minerals name change to Rodinia Lithium approved by shareholders
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01/06/10 Rodinia Minerals promote William Randall to President and CEO
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26/05/10 Rodinia Minerals says drilling results from Diablillos lithium project confirm potential
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18/05/10 Rodinia Minerals completes secondary placing, total proceeds raised CDN$2 million
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28/04/10 Rodinia Minerals hires Farhad Abasov as new chairman
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20/04/10 Rodinia Minerals encouraged by Phase II results at Salar de Diablillos which exceed initial samples
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20/04/10 Rodinia Minerals completes 1st tranche of fundraising for lithium projects development
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04/03/10 Rodinia Minerals 'encouraged' by sample results from Clayton Valley lithium-brine project
