Chile: "The country’s salars are estimated to contain the largest reserves of lithium in the world" ....The United States Geological Survey
Salares Lithium Corp (LIT-TSX)
Location Atacama Desert, Region III, Chile
Highest producing lithium country in the world
Project Size 39,404 Hectares (Largest pure lithium package in peer group)
Mineralization Sample grades up to 1,080 parts per million (non NI43-101)
Lithium - Potassium sampled in all 7 Salares
Proximity - 5 Salares clustered within 155 km. (see location map) 100% owned by the company.
Deposit Type Continental brines. (Lithium is most easily and cheaply recovered from Continental brines than from any other source) Chilean brines account for 50% of the world's lithium production according to the United States Geological Survey
Area Success- Major mining companies in the area include Kinross, Barrick, BHP Billiton and Freeport McMoRan.as well as SQM, the largest lithium producer in the world.
Infrastructure Project location is easily accessible by road.
All services required for a major exploration and mining program are available in Copiapó which is a major mining centre.
Progress NI 43-101 Technical report (Complete) and exploration program initiated.
- Located in the highest lithium producing country in the world
- Largest land package of any company in peer group
- 5 Salares clustered within 155 km
- Grades up to 1,080 ppm lithium
- Chile is one of the most mining friendly countries in the world
- Rising demand for lithium is expected from the increased use of laptops, mobile phones and hybrid/electric vehicles
LIT trading at .65 today. Three month Target price of $1.40
UPDATE JULY 15TH!!! SALARES OFFICIALS HAVE REQUESTED A TRADING HALT TO
LIT STOCK AS IT PREPARES AN IMPORTANT PRESS RELEASE!
We are awaiting the results of this information which we think will be very bullish for the stock!
Update, July 15th 2010 - Salares Lithium swallowed by Talison of Australia, the largest supplier of lithium to China!!
Due to the above noted merger, if you took our advice on July 8th, you will book at least 98% profit!! Your welcome!!
More Lithium Stocks to consider.