American Salars Provides Corporate Update
Executive Summary
- American Salars provided a corporate update on its lithium exploration portfolio across Brazil, Canada, and the United States.
- The Jaguaribe hard‑rock project in Ceará, Brazil reported spodumene grades up to 3.72 % Li₂O from initial sampling and entered Phase 2 systematic exploration.
- The company terminated its previously announced share purchase agreement with American Brines Lithium Inc. for the Nevada Black Rock Project.
Key Details
- Jaguaribe Hard‑Rock Pegmatite Project – Ceará, Brazil
- Holds an 18,083‑hectare claim in a historic pegmatite province.
- Initial sampling identified spodumene‑bearing LCT pegmatites with grades up to 3.72 % Li₂O and notable rare‑earth element values.
- Phase 2 work launched to evaluate additional LCT targets and expand sampling across high‑potential mineralized trends.
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Infrastructure: ~4 hours by paved highway from Fortaleza port/airport; located in an exploration‑friendly agricultural district with access to North American and European battery‑chemical markets.
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Quebec Lithium Portfolio – Canada
- Gaspe Region: Historic grab samples range from 255 ppm to 30 ppm Li, covering ~300 m × 400 m target area; associated REE (Rb, Ta, U) signatures similar to LCT pegmatites.
- Lac Simard Project: 3,958‑acre claim adjacent to Sayona Mining’s Tansim Project and near Viau–Dallaire lithium showings; early mapping & sampling of outcropping pegmatites and structural trends for LCT mineralization.
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Xenia West & East Claims: Located ~30 km SE of Val‑d’Or; historic work indicates pegmatitic intrusions and structural corridors prospective for lithium; excellent road access and proximity to active mining infrastructure.
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Black Rock Project – Nevada, USA
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The company terminated the previously announced share purchase agreement with American Brines Lithium Inc. concerning acquisition of the Black Rock Project.
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Qualified Person Review
- Technical content for Jaguaribe and Quebec projects reviewed and approved by Mitchell E. Lavery, P.Geo, an Independent Qualified Person per NI 43‑101 standards.
Notable Quotes
- “We continue to advance our strategy of building a diversified pipeline of lithium projects positioned within some of the world’s most active and prospective battery‑metals jurisdictions.” – R. Nick Horsley, CEO
Materiality Assessment: Non‑Material – Positive (operational updates and project progress without immediate financial impact).