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Xantippe Resources (ASX: XTC) is about to buy a Lithium Brine Nagaya in Argentina – The Market Herald

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  • Xantippe Resources (XTC) has signed an option contract with Carolina Lithium to acquire a lithium brine tenement house in Catamarca, Argentina.
  • The Carachi Pampa license is believed to provide proven lithium-containing brine that can host viable projects.
  • Xantippe will pay shareholders a billion shares of fully paid-in common stock to carry out due diligence, along with a non-refundable option fee of US $ 40,000 (approximately A $ 56,000).
  • After exercising the option and signing the final acquisition agreement by the end of May 2022, Carolina will be paid US $ 100,000.
  • Xantippe Resources fell 11.1%, trading at 12:15 pm AEDT for 0.4 cents.

Xantippe Resources (XTC) has signed an option agreement to acquire a lithium brine tenement house in Argentina.

The agreement was signed with Carolina Lithium, which holds the right to acquire two tenement houses for the lithium brine deposit in Catamarca, Argentina, known as Carachi Pampa Licenses.

Zantip will acquire all shares under an exclusive six-month option agreement with Carolina Lithium shareholders.

Upon exercising the option, Xantippe will pay shareholders 1 billion shares of fully paid-in common stock and will pay Carolina a non-refundable option fee of US $ 40,000 to perform due diligence on the project. To the property owner, Fabiana Ramos.

Ramos also said that if the option is exercised, a formal acquisition agreement is signed by the end of May 2022, and an additional US $ 2,060,000 is paid in two installments, US $ 100,000 (A $ 140,000). ) Will be received.

After the acquisition, the company will have the right to acquire all of the shares of Arlupo SA, which holds the rights to the Carcahi Pampa Lithium Project.

The target is a paleo-salt plain with proven lithium salt water covering 9100 hectares at a depth of up to 200 meters, dubbed as suitable for directional lithium exchange (DLE) treatment.

Carachi Pampa is believed to provide proven lithium-containing brine that can host viable projects.

Managing Director Richard Henning said the company’s recent funding has given Zantip the opportunity to explore and explore new resource projects.

“Using the known resources of lithium, another key element of battery technology, the option to explore and potentially acquire two row houses in this proven region of Argentina is a new world element. It’s a clear extension of the XTC strategy to participate in development, “says Richard. Henning.

Xantippe Resources fell 11.1%, trading at 12:15 pm on AEDT for 0.4 cents.



Xantippe Resources (ASX: XTC) is about to buy a Lithium Brine Nagaya in Argentina – The Market Herald

Source link Xantippe Resources (ASX: XTC) is about to buy a Lithium Brine Nagaya in Argentina – The Market Herald

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