Alba Minerals Announces Positive Results from VES Program at Lithium Prospect in Argentina and Acquires Second Lithium Prospect in Lithium Triangle - Video Available on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - January 25, 2018) - Alba Minerals (TSXV: AA) (FSE: 338) (OTC Pink: AXVEF) has announced positive results from its electrical geophysical survey program at its lithium prospect in Argentina. Interpretation of preliminary results show the presence of brines within the 2,421 hectare Quiron II lithium prospect in the Salar de Pocitos, Salta Province, Argentina. This is consistent with the theory of the continuity of the Salar's aquifers below the alluvial fan.
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Once the computer-based mathematical processing and modelling of the data obtained from the VES Program (Vertical Electrical Sounding) is finished, and the complete hydrogeological analysis is reviewed by the company's experts, the company will provide updates concerning the next steps of exploration on its lithium prospects in Argentina.
Sandy MacDougall, Chairman and Director, stated: "This is the kind of news we were waiting to receive. The Company has been aggressively pursuing our vison to become a truly international, low-cost and sustainable lithium company. With the recently optioned Chascha Norte concession in Salar de Arizaro, Alba is now in possession of more than 5,250 hectares of lithium brine exploration prospects in Argentina. Our increased position within the Clayton Valley JV with Noram; now 50%, together with the extraordinary exploration results from both sediments and brines in North and South America gives our cause forceful support."
Sandy MacDougall and Alba's President, Art Brown, are currently in Argentina, overseeing the next phases of development on the properties as well as continuing negotiations on additional properties.
The company recently entered into an option to earn a 100% interest into the Chascha Norte Property. This new property consists of a single mining claim, covering 2,843 hectares, located in the Southeastern part of the Salar de Arizaro. Due to its length, the Salar's environment is still one of the most unknown concerning its potential to host fresh water and brine resources enriched with lithium and/or potassium.
The property has good infrastructure and is in close vicinity to Argentina Lithium & Energy's and Lithium X's Arizaro lithium brine projects. Historical sampling and drilling programs on the western margins and to the north of the property executed by other Canadian companies show lithium anomalies in near surface contained within the classic halite layer and subsurface aquifers with increasing lithium values in depth.
Under the terms of the acquisition, Alba will pay $250,000 and issue 4.5 million shares, subject to exchange approval.
For more information please visit the company's website www.albamineralsltd.com, or contact Jason Powell, Investor Relations, at 604-779-6497 or email jasonalbaminerals@gmail.com.
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