First Lithium Minerals Corp. (CSE:FLM) is one of the latest listing on the Canadian Securities Exchange, following its RTO with PetroCorp Group Inc. The company is focussed on its OCA lithium project comprised of approximately 8,900 hectares of mineral exploration concessions located in the Antofagasta Region of Northern Chile, approximately
215 kilometers Northeast of the city of Calama.
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Video Transcript:
First Lithium Minerals Corp. (CSE:FLM) is one of the latest listing on the Canadian Securities Exchange, trading under the symbol “FLM” following its RTO with PetroCorp Group Inc.
Prior to the closing of the RTO, the company raised approximately $6.7 million the placement of approximately 26.9 million shares priced at $0.25 per share.
The shares are trading at $0.20.
The company is focussed on its OCA lithium project comprised of approximately 8,900 hectares of mineral exploration concessions located in the Antofagasta Region of Northern Chile, approximately
215 kilometers Northeast of the city of Calama.
Mineralization in the OCA Prospect is primarily represented by three different fractions:
Liquid, represented mainly by chloride and sulfate brines
Dendritic material, consisting of sand, silt and clay intercalated in the salar sediments, and
Various precipitated salt compounds resulting from salts reaching respective solubility and concentration limits
Initial geochemical surface samples from a 2019 sampling program showed anomaly of high lithium grades at 217ppm in Salar Ollague, 207ppm in Salar Ascotan, and 300ppm in Salar Carcote
The proposed exploration program will consist of two phases.
The Phase I Exploration Program will consist of further hydrogeology research of the prospect area along with additional surface mapping and brine sampling.
Phase II will include shallow drilling to test brine depth and continuity of chemical composition, porosity and permeability analysis of salars sediment structure, and deeper drilling of more than 300 meters.
For more information, please visit the company’s website at www.firstlithium.ca, contact Rob Saltsman, President and CEO, at 416-402-2428 or by email at rob@paigecapital.ca
