Candella II Lithium Project - Incahusai Salar, Argentina
The Inchuasi Salar and basin in the Salta province of northwestern Argentina supports conditions for quality lithium mines at depth. This basin is impacted by the Cerro Aracar and Pular volcanos, contributing lithium to the salt through aquifers. Easily accessible by road, with no indigenous communities nearby, this region has been substantially explored and shows the lithium brines are close to the surface.
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Countries phasing out fossil fuel cars in the next 10-30 years
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Under Management in the USA
Project SUmmary
Candella II Lithium Project – Incahusai Salar, Argentina
The Candela II Lithium deposit is on the southern and lowest end of the Incahuasi Salar, located in the Province of Salta, Argentina. Candela II is situated approximately 45 kilometers from town of Tolar Grande, 267 kilometers from Salta, and close in proximity to advanced and renowned lithium salars such as Arizaro (Lithium Chile) and Pocitos (Hanaq). Volcanoes Cerro Aracar, Medina and Pular contribute lithium to the Incahuasi salar through aquifers.
The Candela II Lithium Brine Project contains a National Instrument 43-101 mineral resource estimate (“MRE”) completed by WSP Australia Pty. Ltd. (see Spey Resources Corp. news dated September 26th, 2023). This NI 43-101 resource report estimates the project to contain lithium metal of 86,000 tonnes which equates to 457,500 tonnes of in-situ lithium carbonate equivalent (LCE) and a lithium yield of 48,000 tonnes of LCE from 9,000 tonnes of lithium metal. The calculations assume no losses from lithium metal and a porosity average that will be updated in the next drilling phase.”
Project highlights
Geochemical Data
Location
Social
Geochemical Data
- Resource estimate of 457,000 tonnes of lithium carbonate inferred estimate by WSP NI 43-101 report 18 Sep 2023
- Exploration success in 2021 hit aquifers, 173ppm Li sampled
- VES geophysics shows low (<0.02ohm/m) aquifers with K, Mg, Li brines (not saltwater which is >0.026)
- MT Geophysics (May 2023) show deeper aquifers and basement at 400-600m and very low resistivities
- Drill hole data shows the lithium brine aquifers are from 50-200m
Fig 1 The bright pink areas show the lowest resistivity and the location of the lithium rich brine aquifers that were encountered in drill hole INC-001D
Location
- Adjacent to Ganfeng property, our concession covers 30 sqkm area – land as well as salar
- 45km from Tolar Grande (240 population) close to Rincon salar
- Easily accessible by road
Social
- Social survey completed
- No indigenous communities close by
