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Salta Lithium Brine Project

Salta Lithium Brine Project

Power Minerals is positioned to become a leading lithium brine developer in Argentina through its Salta Lithium Project in Salta Province. The project comprises 147km2 of licences over five salt lakes, or salares, located in South America’s “lithium triangle” which hosts 65% of the world’s lithium.

Salta Lithium Brine Project location map, north-west Argentina (PNN licenses in green)

In November 2023, Power announced an updated JORC 2012 resource of 714,864 tonnes of lithium carbonate equivalent (“LCE”, Li2Co3) across the Salta project. This followed Mineral Resource Estimate updates for the Incahuasi and Rincon salares. The update delivers significant scale and scope to the Project’s global Mineral Resource, whrich increased by 68%, and marks Salta as a district-scale project in a pre-eminent global lithium precinct.

JORC 2012 Mineral Resource Statement

Power is working with leading Canadian direct lithium extraction (DLE) technology provider Summit Nanotech Corporation to develop the Incahuasi salar – read more here.

In addition, Power has completed a Preliminary Economic Assessment (PEA) for Rincon. The PEA was completed to Scoping Study level and demonstrated the salar can deliver a robust, low-cost operation with US$194.8 million annual revenue forecast over an initial 14-year operation with annual production of 7,061 tonnes of high purity lithium carbonate based on existing JORC Mineral Resources. Read the PEA here.

Incahuasi is located immediately adjacent to Ganfeng Lithium Co. Ltd’s project and Rincon is adjacent to Rincon Mining Ltd, acquired by Rio Tinto Ltd for US$825 million.

Power is focused on accelerated exploration and development of the project to drive shareholder value.