LIT: Additional TEM Surveys at Salares 7

Canaccord Genuity's Morning Coffee (07/05/2010)
"Shares of Salares Lithium were glowing green Friday after the junior lithium explorer reported the results of additional transient electromagnetic surveys (TEM) completed at its 'Salares 7' project in Region III, Chile. The company said it has now completed TEM surveys on the northern portion of Salar de la Isla, Salar de las Parinas, Salar de Aguilar and Salar Grande. Salares management highlighted that the combined TEM results on the project to date have identified a substantial increase in the volume of the brine bearing aquifer/reservoir rock. The cumulative survey results show a 31% increase, from 3.64 to 4.77 billion cubic meters, of the reservoir rock when a cut-off of one ohm/meter is applied. When the resistivity cut-off level is increased to two ohm/meters the reservoir volumetric increases 100% taking the calculated reservoir rock volume from 9.4 to 18.8 billion cubic meters. The company said TEM surveys are yet to be completed on Salar de Amarga and the southern portion of Salar de la Isla."

 PRINT THIS PAGE   EMAIL THIS PAGE

Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.

Related Quotes: