CleanTech Lithium (LSE:CTL) has entered into option agreements to acquire full ownership of two mining properties in Argentina’s Salar de Antofalla, extending its lithium exploration portfolio in South America.
The agreements cover the Genoveva and Sal de Litio 1 properties in the southern part of the salar, approximately 80 kilometres from the company’s Laguna Verde project in Chile. The licences are located next to an exploration asset held by Albemarle.
According to CleanTech Lithium, preliminary geophysical studies indicate the presence of a substantial brine-bearing aquifer beneath the properties. Further exploration will be required to establish the extent and lithium content of the resource.
The company intends to undertake a drilling and resource assessment programme in 2027, with an estimated budget of US$500,000. The programme will seek to establish an initial mineral resource estimate compliant with JORC reporting standards.
Under the option agreements, CleanTech Lithium is scheduled to make payments totalling US$1.925 million through to 2031 to secure 100% ownership of the two properties. The company expects to fund the initial payments using its existing cash resources.
Management has identified potential operational links between the Antofalla properties and its existing Laguna Verde and Viento Andino projects. These could include shared infrastructure and the development of a central lithium conversion facility, although such arrangements remain part of the company’s longer-term development plans.
The Antofalla agreements form part of CleanTech Lithium’s strategy to develop a portfolio of lithium brine projects across South America. The planned 2027 exploration programme will provide additional information on the resource potential of the newly optioned properties.
CleanTech Lithium is an exploration and development company listed on London’s AIM market and the Frankfurt Stock Exchange. Its portfolio includes the Laguna Verde project in Chile and Viento Andino, with activities focused on lithium resources intended for battery and electric vehicle supply chains.
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