The 41,818 hectares (418 square kilometers) Elektra Project concessions are contiguous to the north (Tecolote) and south (Tule) of Bacanora-Ganfeng’s Sonora Property, covering similar mineralized lithium-bearing clay units localised within volcaniclastic sediment successions in the basins. The Agua Fria target is located southwest of the Sonora Property and was the site of the discovery of significant lithium-bearing clay units in surface exposures and in reverse circulation (RC) drilling in 2016-2017.
The Elektra Project was initially evaluated in 2015 and the current Mexican owners, and members of the technical team, remain involved. Work conducted from 2015 to 2018 is readily available to the company and was completed to 43-101 standards and represents an opportunity to fast-track exploration activities on various targets on the Elektra Project.
Only a limited portion of the Agua Fria target has been drill tested to date. On the Agua Fria target, a total of 16 historic RC drill holes were completed between April and June 2017, comprising 1,762 meters. Historic drill results from this only drill program were encouraging with several intervals of greater than 1,000 ppm Li over widths of up to 54 meters.