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•• Monthly Mining Bulletin Nº36
March - 2017 - PANORAMA MINERO
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Mining in Argentina – What happened in February

February was a very interesting month for the mining sector, particularly lithium. On the metalliferous side Barrick announced its intention to advance in Pascua-Lama as an UG mine; Yamana Gold had a very good year at Gualcamayo, with the operation exceeding productive forecasts also as progressing on the exploration side in order to extend the mine life. Constellation project (NGEx Resources Inc.) is called to be one of the most important copper-gold deposits in South America: plans are advancing in order to better understand the metallurgy of both deposits. In the nuclear field, Blue Sky is progressing in Amarillo Grande, in what has become a large uranium district.

Argentina is increasing its presence in the lithium field: with two production centers, and a couple of advanced projects ready to begin construction, the exploration activity is booming Salta, Jujuy and Catamarca provinces.

Barrick to study Pascua-Lama as an UG mine in Argentina
Barrick Gold Corporation initiated a prefeasibility study to evaluate the construction of an underground mine at Lama (San Juan province), on the Argentinean side of the Pascua-Lama project. Optimization work in Chile remains underway.

Gualcamayo Mine – Strong 2016 results and Exploration potential to extend mine life
In the year ended December 31, 2016, Gualcamayo mine –located in San Juan province and operated by Yamana Gold- sold 169,347 ounces of gold at total cost of sales of $1,038 per ounce of gold sold, compared to 176,852 ounces of gold sold at total cost of sales of $1,162 per ounce of gold sold in 2015.

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Lindero project – Construction decision in 2017 and investment in exploration activities
Operated by Fortuna Silver Mines, Inc. the Lindero Project, located in Salta province, has Proven and Probable Mineral Reserves of 82.5 Mt containing 1.7 Moz of gold, in addition to Inferred Resources of 46.5 Mt containing 0.6 Moz of gold as detailed in the 2016 Feasibility Study.

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NGEx Resources Inc. and Constellation project update
NGEx Resources Inc. achieved a number of significant milestones during fiscal 2016, most notably the release of the results of the Preliminary Economic Assessment (the "Integrated PEA") of Project Constellation and the completion of the spin out of the Filo del Sol property into Filo Mining Corp. on August 16, 2016.

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Drilling Program at Amarillo Grande Uranium Project
Blue Sky Uranium Corp. provided an update on the progress of the reverse circulation ("RC") drilling program at the Amarillo Grande uranium project, in Rio Negro Province. To date, 46 holes have been completed at the Ivana area on targets defined by the previous geophysics program and older pit sampling. Holes range from three to 21 metres, averaging 13.6 metres in extent.

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Filo Drilling expands mineralization at Filo del Sol
Filo Mining Corporation announced the first assay results from the 2016/2017 drill program at the Filo del Sol project located in San Juan Province. A total of 3,830 metres in 20 holes has been completed to date.

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Lithium mining

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Lithium Americas Provides an Update on the Cauchari-Olaroz Project
Lithium Americas Corp. provided an update for the Cauchari-Olaroz lithium project ("Cauchari-Olaroz") in Jujuy province.

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New Positive Drill Results and Significant Initial Pump Tests for 3Q Project
Neo Lithium Corp. announced results from its ongoing drilling program at the Tres Quebradas lithium brine project ("3Q Project") in Catamarca Province.

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Argentina Lithium Initiates Exploration Program at Arizaro Lithium Project
Argentina Lithium & Energy Corp. reported that it has secured the necessary permits to complete detailed exploration work at the Arizaro Lithium Project on the Arizaro Salar in Salta Province.

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Advantage Lithium Closes $20 Million Financing // Orocobre Acquisition Update
Advantage Lithium Corp. announced the closing of its previously announced private placement financing of 26,667,000 subscription receipts of the Company for aggregate proceeds of approximately $20 million.

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VI International Seminar “Lithium in South America”

LITIO

In Catamarca province, on June 6 & 7 of this year, PANORAMA MINERO will host the VI International Seminar “Lithium in South America”. There are several reasons to attend this renowned seminar:
 
- Argentina, Chile and Bolivia host over 75% of the world lithium resources
- Salt mines in the Andean region emerged as the main source for lithium carbonate production
- Lithium demand has grown rapidly over the past years thanks to the application of this metal to various technology solutions (batteries, computers, smart phones, iPads and other electronic devices)
- A large portion of the force in the demand lies in the so-called EVs (Electric Vehicles), where big actors such as Tesla, Foxconn, LG Chem, BYD, Boston Power are creating a phenomenon that is headed to break all industry standards: battery mega-factories. A Goldman Sachs Group report points out that lithium demand could triple by 2025 to 570,000 tons, as a result of its technological applications and electric cars.
- One of the reasons pushing the surge in lithium carbonate price is the likelihood that future supply of this metal may be restricted on account of particular interests, including political, capital-related, technical and environmental, as well as the possibility that projects might be halted or decelerated until their final start up.
- According to the USGS –United States Geological Survey- Argentina was the country that recorded the largest interannual growth, adding 17% to the modest increases of other actors, including Australia and Chile. Global lithium production reached 32,500 tons in 2015, as compared with 31,000 tons in 2014, representing 5% growth.
- Access to lithium supply has turned into a priority for technology industries in USA and Asia. Accordingly, the creation of strategic alliances and joint ventures by technology and exploration companies is an already consolidated trend that ensures diversified and actual lithium supply to battery providers and vehicle manufacturers.
 
For more information, please click on the following link: http://litioensudamerica.com.ar/

 

Are you looking for a Rep in Argentina? Please contact:
informes@panorama-minero.com

 
  Panorama Minero
Buenos Aires - Argentina
Phone: (054-11) 4952-1117