Home Energy & Mining LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF) Receives Drilling Permits


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LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF) shares fell 9.08% after the company announced it had received environmental and drilling permits for its Pocitos West property in Northern Argentina. The company is currently mobilizing local logistics and support for drilling operations that are set to begin before the end of the month.

LRTTF Stock Performance


LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF) continues to trade in an uptrend despite coming under pressure in Tuesday’s trading session. The stock is up by more than 40% for the year as investor confidence on the stock remains strong. The shares have spport at the $0.63 mark, below that the next level of support is at $0.51 a share.

Commencement of drilling operations at the Pocitos mine could strengthen investors’ confidence given that the company has sufficient funds to fully fund the program. The property is well positioned for lithium brine production.

LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF) is looking for lithium content at the Pocitos Mine above 100mg/L. It also plans to expand the size of the storage capacity should there be any indication that porosities range above 20%.

“We will start off with a sample hole in the southern segment of the property, drilling rotary only and packer sampling to identify brine and lithium. We will drill initially to 300 meters, stop to sample, and while awaiting expedited results, we will continue down to find a basement or whatever might define a “bottom” to the brine section,” said CEO Brad Nichol.

Lithium Drilling Operations

All the necessary drilling equipment are already on site with the initial drilling on target to be concluded in time for Christmas. In addition to the expected drilling operations in Argentina, Liberty One Lithium Corp has made a lease payment to maintain mineral licenses in the Paradox Basin where it holds approximately 4000 acres.

Separately, LIBERTY ONE LITHIU COM NPV (OTCMKTS:LRTTF)’s Chief Executive Officer says they are committed to effective and efficient sourcing and deployment of capital as they move to start drilling works in Argentina.

“Near to my heart is the successful deployment of our rarest commodity, our investors’ cash. I have based a large part of my career on spending capital like it is scarce and difficult to obtain — which it is, especially for a junior exploration company,” said Mr. Nichol.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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