Pan American Lithium Corp. CEO Cites Chile as Favorable Mining Sector in Latin America
March 19 2012 - 7:35AM
Pan American Lithium Corp. CEO (TSX-V:PL) (OTCBB:PALTF)
(OTCQB:PALTF) CEO Andrew Brodkey highlighted the unique advantages
of his company's lithium assets in Chile and the highly favorable
climate for the mining industry in Chile in an interview with
GLX-TV Financial News. The interview is at:
http://www.youtube.com/watch?v=3OVA2qhV1D8&feature=youtu.be
Pan American Lithium owns interests in 11 salars, or
mineral-rich brine lakes, with the potential to produce lithium,
potassium and other metals, all located in Atacama Region III of
Chile. An additional Pan American property is located in
Mexico.
Brodkey said that the company has turned down other
opportunities in Argentina and Bolivia in favor of doing business
in Chile, which he termed the most favorable climate for mining in
Latin America.
Now and in the foreseeable future, lithium is essential for the
battery power needed for mobile communications and a growing sector
of the transportation industry. Lithium demand is expected to grow
rapidly over the next several years.
Pan American plans to obtain lithium through pumping,
concentrating, filtering and recovery processes at its brine
projects. The company is considering technologies that would enable
Pan American to achieve an 80% lithium recovery rate from its
processing vs. a 40% rate recovery rate currently being seen by
competitors, Brodkey said.
Pan American believes that its targeted cost for extracted
lithium would place the company's recovery costs among the best in
the industry, Brodkey noted. In addition, he said that the company
has obtained sampling results in excess of of 1,000 ppm of
lithium at one of its sites, which is on par with the best in the
world. Pan American plans to continue throughout 2012 the process
required to develop specific resource estimates for its properties,
Brodkey said.
Brodkey also pointed out that Pan American's sites are located
on western side of the Andes Mountains, which gives the company a
five-times transportation cost advantage over its competitors in
Argentina that must ship their product over the mountains to
the ports in Chile that serve Asia.
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company, such as the statements that the Company
believes that through this agreement it will reach its goals, which
are to increase trading volume as well as achieving a fair market
value representation for Pan American shares while increasing the
investment community's awareness of the Company. There are numerous
risks and uncertainties that could cause actual results and the
Company's plans and objectives to differ materially from those
expressed in the forward-looking information, including: (i)
inability of the Company to complete its business plan; (ii) a
decrease in demand for and price of lithium or potassium; and (iii)
general uncertainties with respect to mineral exploration in
general. Actual results and future events could differ materially
from those anticipated in such information. These and all
subsequent written and oral forward-looking information are based
on estimates and opinions of management on the dates they are made
and are expressly qualified in their entirety by this notice.
Except as required by law, the Company does not intend to update
these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CONTACT: Jodi Henderson, Corporate Secretary
1-520-989-0032
Email: jhenderson@kriyah.com
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