ARGENTINA LITHIUM COM NPV
ARGENTINA LITHIUM COM NPV (OTCMKTS:PNXLF) shares gained 65.4% after the lithium mining company said it is not aware of any undisclosed material that might have triggered a higher market price and level of trading in its common shares. The stock is the subject of increased trading volume as it continues to spike higher after being in consolidation for the better part of the year.
Argentina Lithium is up by more than 50% for the year as it continues to trade in a strong uptrend. Renewed investor confidence has helped push the stock above a key resistance level at $0.28 a share.
Arizaro Lithium Project
In addition to the surprise price spike, ARGENTINA LITHIUM COM NPV (OTCMKTS:PNXLF) says it has commenced a drill program at the Arizaro Lithium Project. Three to four drill holes are planned at the mine with depths of up to 400 meters.
The Arizaro Lithium Project includes volcanic rock outcrops and structure conditions similar to other salars in the Puna region which contain lithium and potash. According to Argentina Lithium, the large size of the Arizaro basin makes it possible to find geological and other hydrogeological conditions for establishing sub-basins of independent evolution.
The large size of the Arizaro basin also supports exploration for deep layers of lithium-rich brine which is not directly linked to the surface fluids at the Arizaro Salar.
“We are pleased to be back on the ground at Arizaro and drilling the first targets to test our model of a deep brine layer. In addition to planning this program, our team has been actively pursuing other projects to add to our portfolio, and we look forward to completing a second project acquisition in the coming months,” said Nikolaos Cacos, President, and C.E.O.
ARGENTINA LITHIUM COM NPV (OTCMKTS:PNXLF) stands to earn 100% interest in the Arizaro Lithium Brine Project at the central core of the Arizaro Salar which happens to be the largest in Argentina. The mine benefits from being in a strategic location with well laid out infrastructure, including railway and the deep-water port of Antofagasta.
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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