projects overview

The Antofalla Salar. Antofalla Salar is approx. 130 km long and varies from 8-15 km wide (visible surface) with a measured depth in some areas of over 500 meters. Younger lava flows cover some of the basin’s lateral limits, indicating that the basin is much larger than merely what is visible on the surface. Located less than 20 km west of Livent’s producing lithium operation (fka FMC Corporation, Livent is Argentina’s largest lithium producer) in northern Catamarca Province, the Antofalla Salar hosts one of the largest lithium-bearing basins in the region. It is over 130 km long and varies between 5km and 20 km across.

On September 12, 2016, Albemarle Corporation, the world’s largest lithium producer, announced that it had acquired from Bolland Minera, S.A., a large private mining company, exclusive exploration and acquisition rights to a claim block located in the center section of the Antofalla Salar. At that time, Albemarle publicly stated its belief that Antofalla has the third-largest lithium brine reservoir in the world. In 2016, Roskill Information Services reported that Bolland had drilled 56 boreholes over 265km2 and defined a resource of 83mt of potash (KCl) grading 6,400mg/l and 2.22mt of lithium (11.8mt LCE) grading 350mg/l. Bolland’s test wells were drilled between 2008 and 2011 in the claim block now owned by Albemarle. They were completed in conjunction with the Institute of Mineral Resources for the National University of La Plata in Buenos Aires (“Inremi”). Well logs, permeability, hydraulic gradient, core sample chemistry, and gravimetric studies published by Inremi during that period indicated substantial values for lithium and potassium continuously observed from the surface down to a depth of over 500 meters, suggesting that Antofalla is one of the deepest basins in the region.

LEXI obtained properties in this area for known geology reasons. Between 2008 and 2011, a private mining company, Bolland Minera, drilled 56 test wells during three separate campaigns with the Institute of Mineral Resources for the National University of La Plata in Buenos Aires (“INREMI”). Well-bore logs (porosity, neutron density), permeability, hydraulic gradient, core sample chemistry, and gravimetric studies (among others) were analyzed and then published during that period. In September 2016, Albemarle Corp. announced its acquisition of Bolland’s claim block in the center of the Antofalla Salar.

LEXI has secured one of Argentina’s most extensive lithium property packages with over 72,000 hectares of brine properties within two salars in Catamarca Province, the heart of the world’s most prolific lithium brine production areas in the Lithium Triangle.

Antofalla Salar is approximately 130 km long and varies from 8-15 km wide (visible surface) with a measured depth in some areas of over 500 meters. The white in this image depicts the visible surface of this tectonic basin, which typically exhibits at the surface as a white salt pan with varying but limited areas of surface water accumulation. Younger lava flows cover some of the basin’s lateral limits, indicating that the basin is much larger than merely what is visible on the surface.

The Company’s geophysical program was conducted by Quantec Geoscience Ltd., a world leader in mineral exploration with electromagnetic survey technologies, in 2018. The final survey report encompassed approximately 200 line kilometers of Transient Electromagnetic (TEM) Sounding profiles (comprised of 1,028 individual sounding sites) distributed along 36 survey lines. TEM technology is a fast, high-resolution exploration tool capable of imaging variations in sub-surface electrical resistivities to depths exceeding 500 m. For over three decades, it has been a primary exploration tool in saline aquifer and fresh-water/brine interface projects.

The final report from Quantec Geoscience confirmed “better-than-expected” results. It indicated that the surveyed claims (approximately 36,589 hectares within 14 semi-contiguous claims) exhibit electrical resistivity values and distribution patterns consistent with highly-conductive unconfined aquifers known to be lithium-bearing brine horizons in the Puna Plateau. These compelling survey results have contributed to target discrimination for LEXI’s envisaged exploration drilling, intended to identify mineral chemistry, lithology, porosity, pump rates, and other hydrogeological factors. Resistivity profiles illustrated in shades from red to magenta to violet are indicative of highly conductive, lithium-bearing brine and were observed from near surface to over 400 meters deep in virtually all of LEXI’s claims.

The Antofalla Salar, a desolate, isolated desert landscape in Argentina, holds many resources and elements due to its unique geography and environment. One of the most important assets of this salt flat is its chemistry; tests indicate it contains just the right balance of materials needed for lithium exploration, making it full of potential.

• Indications of boron, potassium (potash), and other commercial minerals.
• Moderate to High grade, low Mg content (easier to refine).
• Hydrogeology suggests the basin under LEXI’s properties is replenished by aquifers.
• Access to fresh water, low environmental impacts.

• Multiple aquifers – distinct areas, geographically related.
• Adjacent to proven production – properties about the world leaders in lithium.
• Initial testing (surface, pits, prior exploration) confirmed economically viable Li content in multiple areas.
• Fully Permitted for 10 exploration wells.
• Mobilized logistics and drilling equipment.
• All-weather roads to sites, easy access to paved roads.
• Sufficient space for processing facilities and infrastructure development.
• Access to the workforce with knowledge of operations.