Jaguaribe Project - Brazil

American Salars has Acquired 18,083 Hectare Brazil Hardrock LCT Pegmatite Property with Recent Sampling up to 3.72% Li20 and Significant Rare Earth Element Values.

Project Summary

American Salars Acquires 18,083 Hectare Brazil Hardrock LCT Pegmatite Property in the Jaguaribe region in the northern coastal state of Ceará, in Northern Brazil which covers historic artisanal mining sites previously mined for lithium, coltan (tantalum and niobium) and tin.

The Jaguaribe Project is located in the Jaguaribe/Solonópole region in the State of Ceará, in Northern Brazil and hosts multiple extensive Lithium and REE bearing pegmatite dykes that have returned initial sample discoveries of up to 3.72% Li2O, 2.15% Li2O and 1.58% Li2O as well as 554.5 ppm of Cesium, 135 ppm of Tantalum, 177 ppm of Niobium. One sample showed high values for Rubidium (>10,000ppm); Tin (675 ppm) and Zinc (387ppm).

The initial phase 1 exploration program revealed multiple long and wide pegmatite dykes that measure up to 30 meters in width and up to 300 meters in length that are largely unexplored. American Salars has secured field crews, a Brazil focused senior geologist and Quebec based Hardrock lithium specialist QP Mitch Lavery to oversee a more extensive Phase 2 work program to map the pegmatite outcrops and extensively sample new and known areas of mineralization.

The Company is in the process of engaging sampling crews and is working with local Brazil based geological consultants to help plan a follow up drilling program to evaluate the priority targets.

The Jaguaribe Property covers historic artisanal mining sites previously mined for lithium, coltan (tantalum and niobium) and tin.
Initial sampling of the Jaguaribe Pegmatites returned Spodumene bearing pegmatite samples that graded up to 3.72% Li2O as well as Rare Earth Elements.
Phase 2 sampling will test multiple additional LCT Pegmatite targets.
Ideal project location – Historical Pegmatite Province Brazil.
Approximately 4-hour drive on paved roads to port and international airport (Fortaleza).
The topography, land use and vegetation at Jaguaribe Property is well suited for exploration activities.
Arid, sparsely populated farmland, no rain forest.
Northern Brazil provides shipping routes and deep-water ports to North American and European battery chemical markets.

Multi-element analyses were carried out at the SGS laboratory for 58 elements including REE, from 12 samples from the Jaguaribe Project. These samples were analyzed by the ICM90A method: determination with fusion in sodium peroxide-ICP OES/ICP MS.

Geochemistry of the samples of Pegmatites from the Jaguaribe Project area, were compared with the standard sample or standard analysis provided by the SGS laboratory, with the common elements and their contents in a LCT-type Pegmatite (Lithium, Cesium and Tantalum).

The pegmatite from the VM-R-01 Pegmatite sample, which contained Lepidolite and a content of 1.54% Li2O, shows a strong geochemical correlation with the standard sample, in terms of the contents of Li, Cs, and Ta, the latter being much higher (135 ppm Ta) than the Ta content of the SGS standard sample (18 ppm Ta). The VM-R-1 sample also shows a correlation with the SGS standard, in terms of Rb, Nb, Sn and P. Other pegmatite samples from the Jaguaribe Project, namely VM-R-6 and VM-R-7, are iron enriched and present less marked correlations, in relation to the contents of the standard sample only in the elements Li, Rb and Ba, although they show anomalous geochemical values of Cs.

The results of the VM-R-8 and VM-R-10 analyses show a good correlation with the results of the SGS standard sample, regarding the contents of Rb, Ba, Cs, Ta, Nb and P, but the Li levels fell, respectively, to 110 ppm and less than 10 ppm. This sharp drop in the Li levels of these samples is mainly due to the leaching of Li minerals by surface waters, notably Spodumene, a phenomenon observed in most of the pegmatites in the region, whose Li levels increase substantially in the subsurface in mining pits, in the companies’ research excavations and mainly in drill holes.