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A New Lithium Project in Northern Chile

OCA Project

Approx. 9,000 ha of mineral exploration concessions that form the OCA Prospect located in the salars of Ollague, Carcote, and Ascotan in  the Antofagasta Region of northern Chile within the cordilleran sector bordering Bolivia.

Location

Ollague, Carcote, Ascotan Salars

  • The OCA Prospect is located in Ollague, Carcote and Ascotan Salars, Antofagasta Region, Chile.
  • The eastern part of the Atacama Desert.
  • Topography is mainly formed by Loa River, volcanic chain, and endorheic basins of salars de Ascotan, Carcote, and Ollague.
  • The upper basin of Loa River is flanked on both sides by two longitudinal mountain ranges; the western flank is constituted by the Sierra del Medio with an approximate altitude of 4,500 meters.
  • The eastern flank the continental divide formed by the Andes including: the Parumade Portezuelomountain (5,582 meters above sea level), the Ollagüevolcano (5,868 meters asl), the Ascotánmountain (5,187 meters asl) and the Toconcemountain (5,411 meters asl).
  • Prospect is composed of exploration concessions covering a total area of 9,000 hectares.
  • Climate is arid with average annual precipitation of 0.60 -0.85 mm.

Salars

Salar Ollague

Salar Ollague

Salar Ollague

Salar de Ollague: 187 km2 (basin area), 31 km2 (surface area in Chile)

Salar Carcote

Salar Ollague

Salar Ollague

Salar de Carcote : 561 km2 (basin area), 108 km2 (surface area)

Salar Ascotan

Salar Ollague

Salar Ascotan

Salar de Ascotan: 1,757 km2 (basin area), 243 km2 (surface area)

Geology and Hydrogeology

Geology and Hydrogeology

  • The salars of Ollague, Carcote and Ascotan correspond to continental saline deposits or salars with brines.
  • The basin collects water from temporary streams in a catchment area of approximately 6,000 km2.
  • Lithium (Li), potash (K), boron (B), sodium (Na) and magnesium (Mg), among others, are leached and transported from rocks in the catchment, and then accumulated and concentrated by evaporation in the Salars.
  • Geology and hydrogeology extensively studied and investigated by SQM, Codelco and Chilean Geological Surveying.
  • All three salars are terminal lakes with sediments intermixed with salt compounds, undersurface brine, and a surface crust composed primarily of gypsum and halite.
  • Groundwater of the salars show characteristics of a typical brine observable a few meters below the surface.

Mineralization

Mineralization

 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.
  • Various precipitated salt compounds resulting from salts reaching respective solubility and concentration limits.

Infrastructure

Project Infrastructure

  • The OCA Prospect is accessed from the town of Ollague, Chile via Highway 21 that connects Ollague with Calama (200km).
  • The railway (The Ferrocarril de Antofagasta a Bolivia, “FCAB”) forms a major transportation corridor between the port city of Antofagasta, Chile and the capital city of Bolivia, La Paz.
  • Historically, primary traffic on the railway has been minerals such as lead-zinc concentrates, nitrates and copper. The railway passes close to the border of all three salars and has a depot and station in the town of Ollague. 
  • Cerro Pabellon Geothermal Power Plant located approximately 10km south of the southern boarder of OCA prospect.
  • Major copper mines in the vicinity of the project.

Technical Reports

TECHNICAL REPORT ON THE OCA PROSPECT COMUNA DE OLLAGUE, 

PROVINCE OF EL LOA REGION OF ANTOFAGASTA CHILE

TECHNICAL REPORT OCA PROSPECT_V37_12212019 (pdf)Download

Disclaimer

For further details please visit our latest Corporate Presentation, which also contains important technical disclosures. This page contains forward-looking statements, that are based on assumptions at the time of writing. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. First Lithium Minerals Corp. (“First Lithium” or the “Company”) cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond First Lithium's control. Such factors include, among other things: risks and uncertainties relating to metal prices, changes in planned work resulting from weather, logistical, technical or other factors, the possibility that results of work will not fulfill expectations and realize the perceived potential of First Lithium's mineral properties, uncertainties involved in the interpretation of drilling results and other tests, the possibility that required permits may not be obtained in a timely manner or at all, risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions, the possibility of cost overruns or unanticipated expenses in work programs, the risk of environmental contamination or damage resulting from the exploration operations, the need to comply with environmental and governmental regulations and the lack of availability of necessary capital, which may not be available to First Lithium on terms acceptable to it, or at all. First Lithium is subject to the specific risks inherent in the mining business as well as general economic and business conditions. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, First Lithium undertakes no obligation to publicly update or revise forward-looking information. First Lithium does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation.

First Lithium Minerals Corp.

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