Lithium projects

In April 2017, in furtherance of its strategy to diversify to become a multi-commodity mining exploration company, Alien Metals acquired an option over three lithium projects covering more than 1,600 hectares in the central region of the altiplano which is known for its lithium deposits, in the states of San Luis Potosi and Zacatecas.

Each of the three lithium projects contain ‘salars’, which are shallow ancient lakes and lagoons. These salars comprise brines formed by an accumulation of groundwater enriched with dissolved lithium and have the potential to contain significant lithium resources.

The Company's preliminary sampling work confirmed the presence of lithium at all three of the projects, however the Company's due diligence demonstrated the deposit was unlikely to be economic and the projects were not advanced.