Formentera and Cilon Projects (Paso Salar, Jujuy Province)

The Formentera Project is the Company’s flagship project. It is prospective for lithium and borates.It is located in the municipality of Coranzuli in the Jujuy province.

An application with an environmental base line study has been lodged for an exploration licence and drill program in the Susques department, Jujuy Province, northwest of Argentina. It is located in one of the largest depressions of the Puna, which forms one of the largest salar basins covering more than 500km2 in north-western Argentina

The concession area is approximately 1,752 hectares and is located in an area dominated by clastic and saline sedimentation and is approximately 15km southwest from the Jama salar owned by Litica SA who acquired it from LSC Lithium in 2019. Locally it is located west of the Sierra de Lina, between the Jama lagoon to the north and Bayo de Archibarca Hill to the south. The Paso salar that contains Formentera and Cilon is surrounded by concessions owned by Lake Resources (ASX:LKE) and others. The project is at 4,150m above sea level.

The Formentera Project is in the same regional area as the Jama salar (7,500 has) – partially owned by Litica SA, it is 20km to Olaroz Chico at Olaroz Salar that covers approximately 75sqkm – (Orocobre/Allkem), Cauchari salar 280sqkm, Arizaro salar (1,200 sqkm) and Incahuasi salar (150 sqkm)

Map of the Formentera and Cilon properties (black outline)