LiCo Energy Metals Inc. is pleased to announce that Geodatos Geophysics of Santiago, Chile has now been contracted to conduct a detailed Transient Electromagnetic (TEM) geophysical survey as part of the Phase One lithium brine exploration program for the Purickuta Project located within the Salar de Atacama, Chile.
In this environment, a TEM survey can provide detailed information on the depth from surface and possible thickness of brine bearing aquifers. The best electrical conductance responses can therefore be used to target the best drilling locations. Drilling to depths of up to 350m will commence shortly thereafter or as soon as the requisite exploration permits have been issued. This will be followed by an engineering and hydrological study that includes 72hr flow testing, porosity measurements and calculation of aquifer potential. Project management has reached out to several drilling contractors for quotes and a supplier will be selected in the coming days.
The Company's management team has returned from a recent trip to Chile in order to advance the proposed Purickuta exploration program and to review additional lithium and cobalt mineral properties for potential acquisition.
"Salar de Atacama is famous for its lithium production and we look forward to seeing the results of our first test of the subsurface at the Purickuta Project. Our neighbors SQM and Albemarle are producing approximately 38% of the worlds lithium supply just 22 km south of our location within the salar. Several direct extraction technologies that don't involve using evaporation ponds are now being developed and would be an ideal fit for the Purickuta Project," commented Mr. Dwayne Melrose, Director and Head of the Technical Advisory Board of LiCo.
The Company holds an option to acquire up to a 60% interest in the Purickuta Exploitation concession (the "Property"). The technical content of this news release has been reviewed and approved by Alan Morris CPG and Qualified Person.