Patagonia Lithium Limited has entered into the Option Agreements with the Project Vendors to acquire, via its wholly-owned Argentinian subsidiary (Patagonia Lithium Argentina S.A.), 100% interest in and title to the Projects, namely:
- the Formentera Project;
- the Cilon Project; and
- the Tomas III Project.
The Company has exercised its option to acquire the Formentera Project and the Cilon Project on, respectively, 19 April 2022 and 22 October 2022.
The Company shall exercise its option to acquire the Tomas III Project on or prior to the option expiry date (30 November 2022).
The Formentera Project and the Cilon Project are situated in the Province of Jujuy, Argentina. The Tomas III Project is situated in the Province of Salta, Argentina. The
Projects are considered prospective for lithium, borates and/or base metals.
The Company has and intends to undertake further exploration, evaluation and assessment of the Projects.
It is anticipated that PL3 will list on the ASX during January 2023.
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