Pan American Lithium Corp. Announces the Beginning of the Cierro Prieto Scoping Study
09 Febrero 2010 - 10:59AM
Marketwired
Pan American Lithium Corp. ("Pan American" or the "Company") (TSX
VENTURE: PL) is pleased to announce that it has initiated a
detailed sampling program as part of a comprehensive scoping study
to determine the content of lithium and other light metals at the
Cierro Prieto geothermal brine project in the State of Baja
California Norte, Mexico.
The Cierro Prieto Project will exploit geothermal brines
produced from deep wells which feed an evaporation lagoon with a
surface area of 14.3 square kilometres. Pan American intends to
systematically sample the concentrated brines in the lagoon and
submit samples for analysis by a certified laboratory.
Concurrently, Pan American intends to conduct depth measurements of
the lagoon in order to determine an estimate of the volume of the
lagoon and its contained brines. The Company expects to deliver the
results of this phase of the scoping study sometime during the
first calendar quarter of 2010. Pan American believes that,
globally, these geothermal brines are potentially among the lowest
cost sources of lithium and may offer the quickest route to
production.
The Company has the option to acquire 76% of the issued and
outstanding shares of Escondidas Internacional S.A. de C.V., a
private Mexican company which is a party to a joint venture
regarding the development of lithium products from the brine
concessions at Cierro Prieto. Pan American is conducting this
initial sampling as part of its technical and legal due diligence
on the project.
Pan American also has an existing portfolio of rights in nine
salars in Chile, covering a cumulative area in excess of 11,500
hectares.
On Behalf of the Board,
PAN AMERICAN LITHIUM CORP.
Andrew A. Brodkey, President and CEO
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company such as the statement that the Company:
(i) intends to sample the brines and submit samples for analysis;
(ii) intends to conduct depth measurements of the lagoon to
determine an estimate of the lagoon and its brines; (iii) expects
to deliver the results of this phase of the scoping study sometime
after the first calendar quarter of 2010; and (iv) believes that
the brines are potentially among the lowest cost sources of lithium
and may offer the quickest route to production. There are numerous
risks and uncertainties that could cause actual results and the
Company's plans and objectives to differ materially from those
expressed in the forward-looking information, including: (i)
adverse market conditions; (ii) a decrease in demand for and price
of lithium; (iii) general uncertainties with respect to mineral
exploration in general; (iv) changes in the political or regulatory
environment in Chile; and (v) inability to raise required financing
or execute the Company's business plan. Actual results and future
events could differ materially from those anticipated in such
information. These and all subsequent written and oral
forward-looking information are based on estimates and opinions of
management on the dates they are made and are expressly qualified
in their entirety by this notice. Except as required by law, the
Company does not intend to update these forward-looking
statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Pan American Lithium Corp. Damien Lowry 866-669-9377
(toll free)
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