Lithium X Energy Corp. is a lithium exploration and development company based in Vancouver, British Columbia. It has two strategically located assets – Sal de los Angeles and the largest land position in Clayton Valley, Nevada. The Company’s technical and project personnel are foremost experts in their field. They have lead exploration and development projects in Nevada’s Clayton Valley and throughout South America.
Lithium X Energy’s aim is to become a low-cost supplier for the flourishing lithium battery industry. The Company’s stated mission is to “Build a world class management team and acquire best in class assets, giving investors exposure to a pure play lithium company with multiple assets across diverse jurisdictions.”
Morningstar states that “Energy analysts expect lithium demand to rise 16 percent per year from 175,000 tonnes in 2015 to 775,000 tonnes by 2025 – an increase that would be the fastest of any significant commodity over the past century.”
Lithium X Energy’s Sal de los Angeles Lithium Brine Project is in the prolific “Lithium Triangle” in Salta Province, Argentina. This Project encompasses greater than 95 percent of the Salar de Diablillos. Lithium X Energy owns 50 percent, and has the option to acquire up to 80 percent, of the Sal de los Angeles Project Lithium Brine Project. About C$17.5M was invested in work on this property between 2010 – 2016.
In addition, the Company has an option to become the largest claims holder with more than 15,020 acres (6,078 hectares) in Nevada’s Clayton Valley and land positions north and south of Albemarle’s Silver Peak mine (North America’s only lithium producer). Clayton Valley North encompasses roughly 5,480 acres (2,217 hectares) in northern Clayton Valley.
Also, Lithium X Energy has acquired the Clayton Valley South Expansion, totalling roughly 9,540 acres (3,861 hectares). Clayton Valley is known to contain no less than five lithium-rich aquifers.
Furthermore, the Company has its Salar De Arizaro Project. Arizaro comprises 33,846 hectares. It covers parts of the western and eastern portions of the Salar de Arizaro, in Salta Province, one of the largest known salt lakes globally. The Arizaro Project includes 11 mining claims covering about 33,846 hectares.
Yesterday, Lithium X Energy announced that it entered into a binding purchase and sale agreement to acquire 100 percent of the Arizaro Lithium Brine Project. In consideration for the Project, Lithium X Energy will pay USD $250,000 and issue 3,500,000 common shares to the Vendor for a 100 percent interest in the Arizaro Lithium Brine Project on closing, subject to receiving valid title certificates. In association with the purchase, a finder’s fee of 5 percent of the total acquisition price (USD $12,500 and 175,000 shares) will be payable.
At present, Lithium X Energy is planning an exploration program to evaluate the quantity and quality of the contained brine at Arizaro. Additionally, the Company is starting to evaluate the brine for use in mixing with Sal de los Angeles brine. The Arizaro Project benefits from fine infrastructure in the Puna region. Moreover, the Project is set to benefit from more development of adjacent large-scale mining projects. These projects include First Quantum’s Taca-Taca copper project and Fortuna Silver’s Lindero gold project.