Exploration at the Laguna Santa Maria Project
VANCOUVER, British Columbia, Sept. 19, 2024 /CNW/ -- Critical Reagent Processing Corp. (CSE: CRPC) (OTC: GRXXF) (Frankfurt: G0A) is pleased to announce it has contracted Groundwater Insight of Halifax, Nova Scotia Canada, and Tuareg Geological Services of Salta, Argentina for further evaluation of the Laguna Santa Maria Project. The Project is a natural sodium carbonate (soda ash) deposit located in Salta Province, Argentina. The location is strategic to the developing lithium industry in Salta and the surrounding provinces of Argentina. Approximately two tonnes of soda ash are required to produce one tonne of battery grade lithium carbonate.
The program will be comprised of the following:
- Reinterpretation of the current Vertical Electric Sounding (VES) data with the intent of characterizing subsurface resistivity trends and identify target horizons for brine exploration
- Review of water and sediment chemistry data and existing project reports
- Project site visit to evaluate the basin and obtain brine and sediment samples
- Construction of a Project data base to support future exploration
Upon completion of this program, further Project exploration and development will be evaluated.
About Critical Reagent Processing Corp.
Critical Reagent Processing Corp. (CRPC) has completed its purchase option agreement to acquire up to a 100% interest in the Mina Laguna Santa Maria Project, which consists of two mining concessions licensed for the production of sodium carbonate, "Soda Ash". Pursuant to the option agreement, the Company is now the holder of 100% of No 17.643 Ignacio VI and 86% of No 1.255 Santa Maria and has filed documentation to obtain the remaining 14% of No 1.255 Santa Maria, located in Salta Province, Argentina. The 260-hectare property hosts a natural deposit of sodium carbonate, or soda ash. Soda ash is a necessary reagent for the production of lithium carbonate. The U.S. Geological Survey reported in 2022, 165,000 tonnes of soda ash were exported from the United States to Argentina, with a value of US$48 million. CRPC believes the Laguna Santa Maria Project holds a competitive advantage over soda ash importation into Argentina as it is located in country, and in an area of significant lithium carbonate production and project development. Management is continuing to evaluate the property and market for soda ash in Argentina.
ON BEHALF OF THE BOARD
Adrian Hobkirk
President and CEO
T: 954-684-8040
E: [email protected]
W: www.crpc-corp.com
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No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor.
SOURCE Critical Reagent Processing Corp.
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