Resource World Magazine

50 www.resourceworld.com D E C E M B E R / J A N U A R Y 2 0 1 7 aRgEntIna lItHIuM commences exploration program ARGENTINA LITHIuM & ENERGy CORP. [LIT-TSXV; OAY1-FSE] reports reg- ulatory authorities have accepted for filing its option agreement to acquire a 100% interest in the Arizaro lithium brine proj- ect located on the Arizaro salar (salt lake) within the prolific Lithium Triangle in the province of Salta, Argentina. "We are very excited to start this new chapter of exploration with a project that meets all the best starting requirements -- location, size, geology, infrastructure, jurisdiction and potential. As a member company of the Grosso Group, we plan to draw on our experience and past success in Argentina to become a leader in explo- ration for the green energy sector, starting with the Arizaro Project," stated Nikolaos Cacos, President and CEO. Joseph Grosso, head of the Grosso Group, told Resource World that Argentina Lithium completed a name change from Iron South Mining, a corporate restructur- ing and a $3.5 million financing that will fund work on the property. The Arizaro lithium brine project encompasses 20,500 hectares in the central core of the Arizaro salar that the company plans to expand. The Arizaro salar is the largest in Argentina (and third largest in the Lithium Triangle). The central area has a favourable geological environment includ- ing a suitable thickness, making it the most prospective for quality brine resources based on a preliminary investigation. A pre-exploration study is currently under way to be followed by an explora- tion program. The Arizaro salar features infrastruc- ture such as a railway that connects to the deep water port of Antofagasta and nearby advanced mining projects are expected to bring development of access routes and power, plus the availability of water for development. The option agreement terms with Argentina Litio Y Energia SA and SMG SRI (Nicolas Galli and Carlos Daniel Galli) include $6 million in staged payments and $4.2-million in expenditures over four years. Additionally, the company must issue 2.5 million shares with certain resale restrictions. Argentina Lithium is also evaluating other high-potential lithium brine projects for acquisition. The Grosso Group of companies, which has over 23 years of exploration experi- ence in Argentina, includes Golden Arrow Resources Corp. [GRG-TSXV; GARWF- OTC; GAC-FSE] which is advancing its flagship Chinchillas silver project located in Jujuy Province in an agreement with Silver Standard Resources Inc. [SSO-TSX; SSRI-NASDAQ]. When construction is completed, the Chinchillas Mine will truck its ore to Silver Standard's Pirquitas mill. n miNiN g plaYFaIR MInIng exploring for gold in Ireland PLAyFAIR MINING LTD. [PLY-TSXV; P1J-FWB] recently completed six drill holes at its Cloonacool prospect in the Ox Mountains, County Sligo, Republic of Ireland. The company has an option to acquire a 100% interest in Bowpark Exploration (Ireland) Ltd. Bowpark is a private company registered in Ireland and holds three contiguous prospecting licences over the Ox Mountains in County Sligo. While alluvial gold has been known to exist in Ireland and Scotland since prehistoric times, it has only been in recent times that modern exploration methods have defined hardrock sources of gold. These include significant discoveries by Galantas Gold, Dalradian Gold, Scotgold, and Conroy Diamonds and Gold. As of press time, Playfair has completed six core holes totaling 526 metres. All six holes intersected the gold-bearing quartz vein at Cloonacool. Assays are pending. Results of two lines of chip samples over the outcropping quartz vein at Cloonacool showed 3.38 g/t gold over 1.2 metres comprising 5.58 g/t gold over 50 cm, and 1.8 g/t gold over 70 cm. A later 50-cm (apparent width) chip sample across this vein taken by an independent geologist, Thomas Hawkins, PhD, PGeo, returned values of 17.4 g/t gold and 8.2 g/t silver. Drill holes are tracing the gold-bearing quartz vein at Cloonacool 200 metres northwesterly toward a major east-west geological structure identified by regional geophysical surveys. At Cabragh, 11 km northeast of Cloonacool, prospecting found gold in several blocks up to 23.9 g/t gold. A further sample of this block taken by independent geologist Dr. Hawkins returned values of 33.5 g/t gold and 30.8 g/t silver. Regional geophysical surveys have identified strong north- west-southeast structures near to the Cabragh gold occurrences. Playfair believes these structures are the likely source of the gold- bearing blocks and drilling is planned to test this interpretation. Playfair also has the Grey River tungsten project located near the fishing village of Grey River on the south coast of Newfoundland. In March 2011, Playfair reported an updated NI 43-101 compliant resource estimate completed by Desautels Geoscience Ltd. of 18.8 million pounds of inferred resources (1,169,000 tonnes averaging 0.730% WO 3 at a 0.20% WO 3 cut-off). Tungsten mineralization was first noted near Grey River around 1956. Asarco completed geological mapping, trenching and diamond drilling on five of the better veins, drove a 6,300- foot long exploration adit into and along the Main (#10) vein, plus 20 raises into the vein and collected a 275-ton bulk sample metallurgical testing. Asarco had planned production for 1970 but dropped the project when tungsten prices fell. Playfair Mining recently closed a private placement for gross proceeds of $500,000. The company has 55,718,095 shares out- standing fully diluted. Donald G. Moore is Chairman and CEO. n

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