Recently, Xantippe acquired 100% of a West Australian company, Carolina Lithium (CLi). Carolina Lithium is a privately held company 50% owned by Arecco Ingenieria South America.
Carolina Lithium holds a number of options on lithium tenements in Argentina, through its subsidiary Arulpo SA.
At present XTC has options over three tenements totalling 9100Ha (90 km2) in the Catamarca region in Northern Argentina in the heart of the ‘Lithium Triangle’ of Argentina, Chile and Bolivia.
CarachiPampa is a basin with lithium in brine located in the northwest of the province of Catamarca (Latitude: -67.49 °, -26.42).
The Arulpo land position, lies to the east of Lake Resources (ASX:LKE) and offers potential for further acquisition by XTC. The northern sector of the basin -more than 17,000 hectares -has reported geophysical works by seismic refraction. Results show lithium values in brine of up to 230 mg/l.
Recently LKE reported…’Drilling to date at Kachi continues to reinforce prior lithium assay results and indicates lithium brines extend well beyond the limits of the current resource.’
A great head start with local partners and strong networks
Through the acquisition of Carolina Lithium, Xantippe issued 10% of its share capital to Arecco Ingenieria Group. Arecco is an established and well regarded industrial company based in Buenos Aires that has a strong network throughout Latin America. Arecco is already proving to be a strong partner to XTC by assisting with the acquisition of land in Catamarca.
Having worked extensively in the region Arecco has also developed a strong presence with regard to local relations.
XTC has a close working relationship with Field-Intelligence (FI). FI is a leader in supporting global, collective action on climate change and is a significant player in the Energy industry. FI assists in identifying, developing and ensuring the application of the best available technologies and processes.
FI is presently assisting XTC during its due diligence period and by introducing the Company at the highest levels of government in Bolivia.
Focused on clean lithium technologies
The historical method of processing lithium brine is to use evaporation ponds – this requires a large land ‘footprint’ and can take up to 18 months to harvest the lithium. In recent years, a process of Direct Lithium Extraction (DLE) has shown that lithium can be processed more quickly and in an environmentally responsible way.
- High purity and high recovery
- Faster processing
- Cost efficient
- Sustainable and scalable
XTC’s Experience Advantage
There are approximately 9 DLE methods being trialled throughout South America, none of which are yet in successful commercial production. Through previous managerial experience in South Korea, Xantippe has an opportunity to enter into a collaborative agreement with a technology team in Korea and the Company believes that the technology will present itself to be commercially viable and cost-effective within 12 months.
The initial phase will be a R&D partnership, followed by a MoU – to be determined by drilling programme in Argentina and sample analysis, metallurgy and entering into a formal collaboration agreement by June 2022.
See our ESG page for more information on the DLE process.
The demand for lithium is a mega-trend that shows no signs of slowing. In order to meet escalating demand there needs to be ten times more than the current levels of lithium supply by 2030.
Xantippe has established the foundations to participate in catering to this demand through its rapidly advancing South American 2022 Lithium Strategy.