Armory Mining Secures Full Control of Argentine Lithium Project with Advanced Extraction Technology

Armory Mining Corp has gained complete control of the Candela II lithium brine project located in the Incahuasi Salar, Argentina, after American Salars relinquished its development option. The project covers 3,000 hectares and contains an estimated 457,000 tonnes of lithium carbonate in-situ, according to a resource estimate completed by WSP Australia.

The strategic acquisition is bolstered by an innovative lithium extraction technology from Ekosolve Inc., which offers a unique solvent exchange extraction process. This method demonstrates remarkable efficiency, with the ability to extract 93.1% of lithium from brine samples and reclaim 99.7% of its biodegradable solvent, presenting a highly sustainable approach to lithium processing.

The project's location is strategically compelling, with proximity to significant industry players like Ganfeng Lithium, China's largest battery metal producer, and near concessions held by Rio Tinto. Five reverse circulation wells have already been drilled, and geophysical and geochemical surveys have been completed, indicating substantial preliminary exploration work.

Current lithium carbonate prices at $10,070 per tonne for battery-grade material make the project particularly attractive. Ekosolve estimates that a 10,000-tonne processing plant could potentially generate approximately 250% operating margin under current market conditions. The extraction process eliminates the need for traditional evaporation ponds, offering a more environmentally friendly alternative to conventional lithium extraction methods.

The technical report, prepared in accordance with National Instrument 43-101 standards, provides comprehensive documentation of the project's potential. With lithium being crucial for battery technology and renewable energy storage, Armory Mining's project represents a significant investment in critical mineral infrastructure.