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Last Trade (1969-12-31): Change: 0 Volume: 0
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Last Trade (1969-12-31): Change: 0 Volume: 0
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93,000 hectares
230,000 acres
25 concessions
The concessions are 49% owned by Dajin Resources Corp. and 51% owned by Pluspetrol Resources Corporation B.V.
On November 11, 2017, Dajin Resources S.A. received exploration permits for San Jose/Navidad minas.
On August 8, 2016, Dajin's wholly owned Argentinian subsidiary, Dajin Resources S. A., signed a binding Memorandum of Understanding ("MOU") with LSC Lithium Corporation ("LSC") whereby LSC was granted an option to earn a 51% interest in Dajin's Lithium properties in Argentina. On October 27, 2016, Dajin reported that it has completed the share purchase agreement with LSC.
In March 2019, Pluspetrol Resources Corporation B.V. acquired all of the issued and outstanding shares of LSC Lithium Corporation for approximately CDN $111 million. LSC Lithium held an agreement to acquire a 51% interest in Dajin Resources S.A with the exploration expenditure of CDN $2,000,000 on the Salinas Grandes salar.
In October 2019, Pluspetrol earned a 51% interest in Dajin Resources S.A. with the expenditure of US$1,250,000 on the Salinas Grandes salar and payment of US$600,000 to Dajin Resources Corp.
Jujuy province, Argentina.
Access to the mineral concessions is by a paved national highway with several local population centers serviced by a regional electric grid.
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Dajin Resource Corp. (Dajin) holds a 49% working interest in concessions or concession applications in Jujuy province of Argentina covering regions known to or believed to contain brines rich in Lithium, Potassium and Boron. The concessions total approximately 93,000 hectares (230,000 acres) in various drainage basins including 51,970 hectares (128,421 acres) of salar (salt lake) in Salinas Grandes and 41,068 hectares (101,481 acres) in Guayatayoc salt lake basin. salar (salt lake) in Salinas Grandes and 41,068 hectares (101,481 acres) in Guayatayocl salt lake basin. Salinas Grandes/Guayatayoc salt lakes basin was chosen as Dajin’s principal focus for Lithium exploration on the basis of data that are published in various scientific publications, indicating both permissive brine chemistries accompanied by Lithium concentrations in surface and near surface waters that are within the range of Lithium concentrations being produced elsewhere and enabling infrastructure.
The Salinas Grandes/Guayatayoc salt lakes basin is contained in a closed basin that is fault bonded to the west forming a Tertiary age sedimentary basin. Dajin has completed an interpretation of seismic data covering part of its acquisitions and has identified a series of salt horizons that are very prospective for brines rich in Lithium, Boron and Potassium. Based on seismic interpretations the basin may be as much as 800 metres thick and contain additional salt layers, below and adjacent to the current salt beds, which are believed to have been deposited during earlier climatic maxima. The older salt beds are similar in thickness to the current salt deposits in that seismic profiles indicate the salt beds may be as much as 150 to 200 metres thick. The potential exists for the older brines that flood the sedimentary/structural basins to contain substantially greater concentrations of Lithium and Potassium than the current near surface brines due to the more extreme climatic conditions extant during earlier climatic maxima when these older salt deposits were precipitated.
Anomalously high Lithium concentrations, up to 1,600 ppm, in near surface brines present in specific regions of Salinas Grandes salt lake are believed to be due to recharge of the salt lake by seepage of paleo brines along faults bounding the sedimentary/structural basins. Additional advantages to a production plan based on the brine flooded sediments anticipated in the sedimentary/structural basins is that the specific yield of Lithium in brine from the clastic sediments is not expected to be restricted by either low permeability due to recrystalizing salt or brine dilution during periodic flooding of Salinas Grandes by fresh water.
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Salinas Grandes is approximately 70 km to the limited east of the recently completed Lithium processing plants of Cauchari-Olaroz Lithium Americas Corp. and Orocobre.
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A series of high elevation closed topographic basins that trend generally parallel to the axis of the Andes in Chile, Argentina, Bolivia, Peru and Ecuador are the sites of brine accumulation in salt water lakes. These brines are variably rich in Lithium, Potassium, Boron and other metals. The brines reportedly form mineable resources of Lithium, Potassium and Boron in Chile, Argentina and Bolivia. To the best of the author’s knowledge, in South America the cited metals are only produced in Chile, where Lithium, Potassium and Boron are produced at Salar Atacama, and in Argentina where Lithium is produced directly from the brines at Salar Hombre Muerto.
In addition to the aforementioned locations, other projects in late stage exploration are the brines in the salars Rincón, Olaroz, Salinas Grandes and Antofalla in Argentina; Uyuni in Bolivia and Coipasa in Chile. The table that follows is a summary of chemical data from salt lakes or brine pools in South America and in the United States that are sources of Lithium production or that have been in the past or for which exploration projects have recently been proposed. It is clear from the comparison that viability of a Lithium brine project depends on more than the absolute Lithium grade of the deposit.
Lithium is produced as one of several byproducts at most brine operations and the cost of production depends on the chemistries of the brines used as source materials for the solar evaporation ponds. Generally the greater the quantity of Magnesium and Calcium present in the brine relative to the Lithium grade and the more complex the chemistry of the brine the greater the costs of production will be.
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In 2016, Dajin Resources Corp. signed an earn-in agreement with LSC Lithium Corp. As per the agreement LSC was appointed the operator for Dajin Resources S.A.. On November 11, 2017 Dajin Resources S.A. received exploration permits for the San Jose-Navidad minas, part of Dajin S.A.’s Salinas Grandes land package. Exploration was carried out in late December 2017 on a portion of the minas and the results were released February 28, 2018. Twenty-five (25) shallow brine samples were taken from an area of 550 hectares, 1,360 acres (5.5 km2) in the northwestern corner of the 4,400 hectare, 10,625 acres (43 km2) San Jose-Navidad minas. Concentrations range from 281 mg/l to 1,353 mg/l, averaging 591 mg/l Lithium. Of the analysis taken, 60% of assays returned greater than 500 mg/l Lithium and 16% were greater than 800 mg/l Lithium. The highest Lithium brine concentration value was 1,353 mg/l.
In March, 2019 Pluspetrol Resources Corporation B.V. ("Pluspetrol") acquired 100% of the issued and outstanding common shares of LSC Lithium Corporation for a cash consideration of approximately CDN $111million. Dajin is now partnered with Pluspetrol who have earned a 51% interest in Dajin Resources S.A. with the expenditure of US$1,250,000 on the concessions and payment of $600,000 to Dajin Resources Corp.
Pluspetrol has created the company Litica Resources S.A. for exploration and development of their concessions. Litica's exploration team is currently reviewing the Salinas Grandes and Guayatayoc salars exploration and drilling data acquired in the LSC Litium transaction.
Pluspetrol is a private, independent, international energy company with over 40 years experience in the exploration and production of oil and gas. Pluspetrol is the largest hydrocarbon producer in Peru. With operations in Angola, Argentina, Bolivia, Colombia, Peru, and offices in United States, Uruguay and the Netherlands, Pluspetrol promotes energy development and fosters activities at an international level. Pluspetrol has created the company Litica Resources S.A. to enter the "battery metals" business.
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In July, 2015, Dajin signed an agreement with the Cooperativa and Community of Tres Morros for the right to explore the San Jose and Navidad concessions. This agreement gives Dajin the right to explore the 4,400 hectare (10,625 acres) San Jose- Navidad concessions within the Salinas Grandes salar.
The mining leases held by the Cooperative, “Navidad” and “San Jose”, cover a total area of 4,300 hectares (10,625 acres). An initial payment of $US20,000 has been made and the Cooperativa now must acquire the exploration permits to receive a further payment of $US40,000. These permits will be the first to be granted to Dajin for exploration work in Salinas Grandes, a salar where Dajin has staked ground of 80,248 hectares (198,000 acres).
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On February 27, 2016, Dajin Director, Dr. Catherine Hickson met with representatives of the Tres Morros community and signed an agreement of cooperation for the exploration phase of the project. Photo below is Andrés Castillo, Tres Morros community leader, and Hickson signing the accord.
The agreement was signed in Jujuy, Argentina. Below, from left to right Andrés Castillo (Tres Morros community leader), Vidal Aguirre (Head of Tres Morros Cooperativa), Arturo Pfister (lawyer for the Cooperativa), Cosme Beccar-Varela (President, Dajin Argentina), and Catherine Hickson (Director, Dajin Resources Corp).
Dajin’s management has established a close relationship with the local population, having provided their village with fresh drinking water through a well commissioned by Dajin as well as having repaired and rebuilt homes and businesses damaged in multiple wind storms.