Liberty One Lithium (LBY.V) has advised the market it has terminated its exploration efforts at the Pocitos West property in Argentina. The company seemed to have been preparing the market for this decision as the first two holes failed to intersect brine mineralization and the future of the property was depending on the assay results from the third hole of the Pocitos West drill program.
It looks like the results of the third hole were also disappointing, so Liberty One decided it would be more prudent to spend its C$10M+ in working capital elsewhere and is now actively looking for new lithium projects. We hope to hear more of these plans in the very near future, but in the meantime Liberty One will start working on its North Paradox property in Utah, as we previously mentioned. We will have a closer look at North Paradox in the next few weeks (as we were solely focusing on Pocitos West as LBY’s most promising project).
As Liberty One didn’t find anything exciting at Pocitos West and terminated the option to acquire a majority stake from Millennial Lithium (ML.V), the latter has now also terminated its own earn-in agreement and returned the project to the vendor.
Go to Liberty One Lithium’s website
The author has a long position in Liberty One Lithium and Millennial Lithium. Both companies are a sponsor of the website. Please read the disclaimer
