Liberty One Lithium (LBY.V) has confirmed the company has now received all environmental and drilling permits which were required before starting a drill program on the Pocitos West lithium project in Argentina’s Salta province.
As CEO Nichol correctly notes, it’s important to have a good team in place in Argentina, and Liberty One is able to leverage its relationship with Millennial Lithium (ML.V) which is preparing a maiden resource estimate which should be published by the end of this month.
With the permits now in hand, Liberty One anticipates to start drilling the first well at Pocitos West before the end of this month as it has already sourced a drill rig and is now just working out the logistics. The first hole will be drilled on the southern part of the land package and will reach a depth of 300 meters, where after the assays will be rushed to the lab. The company seems to be setting the bar relatively low with 100 milligrams of lithium per liter as we would hope the average grade will be substantially higher.
Liberty One’s share price has performed really well lately, and we would expect the company to be able to fill its treasury again with the proceeds from the warrants priced at C$0.50 from a previous private placement.