Rare Earth Minerals (LSE:REM) has confirmed the presence of at surface lithium-bearing clay units in northern Mexico. The lithium-bearing clay units are in 4 parallel trending sequences and are estimated to extend for at least 40 kilometres in strike length. Rare Earth Minerals has entered into a new joint venture with Bacanora Minerals Ltd that covers these new discoveries and increases concessions under both joint ventures by over 1,880% from 5,325 hectares to 100,140 hectares (247,451 acres).
David Lenigas, Rare Earth Minerals’ Chairman commented:
REM now has a direct interest in a quarter of a million acres of high prospective ground for lithium and potentially other valuable metals.
According to the company’s press release:
The new concessions cover strategic ground surrounding the entire Sonora Lithium Project, where lithium-bearing clay units have now been identified at surface in 4 parallel and arcuate north-westerly trending sequences that are estimated to extend for at least 40 kilometres in strike length. Reconnaissance work by Bacanora has identified clay units on the new concessions where surface samples of the clays have analysed up to 1,350 parts per million lithium.