PAM has secured a second series of exploration concessions for its Tama Atacama Lithium Project.
A further 100km², or 10,000ha, of concessions have been awarded at the Dolores North and Dolores South Lithium Prospects, which are situated north of the Pink Lithium Prospect.
This expansion brings the total area under granted exploration concessions to 386km² or 38,600ha.
The recent concessions are part of a judicial process in Chile, ensuring a high degree of confidence in the procedure.
The first series of concessions were announced on 12 January 2024, and further grants are anticipated in the coming months.
Additionally, a net total of 205km² or 20,500ha of Exploration Concessions have been granted at the Powerline Lithium Prospect, located south of the Pink Lithium Prospect.
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These concessions are integral to the 400km² target lithium brine and clay blocks in the southern half of Ramatidas and the Powerline blocks, which are currently under a memorandum of understanding (MOU) and are being reviewed as part of the Tama Atacama Lithium Project.
On 19 December 2023, the Chilean Government passed Law No. 21420, amending the Chilean Mining Code to extend the term of exploration concessions from two to four years, with the possibility of a further four-year extension.
Consequently, the newly granted concessions will expire in 2027 and 2028.
Earlier this month, PAM signed formal documentation to acquire a 100% interest in the 1,200km² Tama Atacama Lithium Brine Project.
Tama Atacama is one of the largest lithium brine projects in South America, with 1,200km² (120,000ha) of holdings across three salars.
While signing the formal documentation, PAM managing director Paul Lock said: “The Tama Atacama Lithium Project has the potential to be one of the largest lithium brine projects in the global peer group.
“Surface assays for lithium are extremely high and the project has enviable strategic positioning, with all infrastructure requirements satisfied.
“Waste and water balance solutions are available should straight evaporation or a DLE-evaporation hybrid lithium extraction model be adopted.
“The project is situated at a comfortable altitude, is close to a large labour pool and will attract specific brine skill sets from elsewhere in South America.”