IG Global Group LLC, a private international holding company that focuses on the exploration and development of world-class mineral deposits, has announced the launch of IG LITHIUM LLC.
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IG LITHIUM LLC is a private company duly set up as per the laws of the state of Delaware and an affiliate of IGG, which has obtained the rights for the PANAMINT PLAYA BRINE LITHIUM PROJECT.
IGL reports that it has been actively looking for a strategic collaborator to reach a majority position in a joint venture with IGL.
IGL has achieved a first-class lithium opportunity in Panamint Playa. The project is located in a closed basin in a special geological setting immediately to the west of Death Valley, California. It consists of extensive anomalous lithium, high lithium content source rocks, wider basin size and geometry, geothermal activity and an extremely arid, high evaporation rate climate.
A magneto-telluric (MT) survey of Panamint Playa indicates a conductivity resistivity anomaly (brine aquifer) more than 13 miles in length. Hydrogeochemical results indicate extensive and anomalous lithium in shallow auger holes over 10 square miles into which brine flowed.
The ambient infrastructure and location next to prospective future offtake parties render this a special chance for high returns on comparatively low investment in further exploration.
The process for participating with IGL in Panamint Playa includes signing a confidentiality agreement, which offers interested parties access to the Panamint Playa database as well as a site visit chance.
IGL will continue with the best offer in the form of earn-in joint venture deal terms. The indicative timeline needs the offers to be received on or by January 1st, 2022; the most optimum offer shall be awarded by January 15th, and definitive documentation will be provided by January 30th, 2022, which might be altered at IGL’s sole discretion.
Already, various groups have exhibited their interest in reviewing the chance. Any company that shows interest in getting the teaser document must contact Stephanie Ashton, VP of Business Development at [email protected].
We are very excited to have such a unique lithium brine opportunity located within the confines of the United States. It is imperative that new lithium brine deposits be proven in the coming years, and equally important that domestic sources of this critical green energy metal be found within the United States.
Thomas E. Bowens, President and CEO, TCM and IG Global Group LLC
“Initial near surface brine concentrations and deep-seated geophysical indicators point to a very significant potential resource, and given the perfect geological conditions for economic lithium brine development in the Panamint Valley basin, we feel confident in the prospects viability,” added Bowens.