The Salar del Diablo Lithium Project is located in the State of Baja California Norte, Mexico, approximately 85 miles south of the U.S. border. The property covers 75,400 hectares or 290 square miles within a closed basin.
On completion of the Phase 2 pre drilling programs as well as payment of concession fees estimated at US$ 130,000 USD the Company will own an undivided 60% interest in the property. The Company has paid US$ 50,000 to the LP and is in the process of issuing 200,000 common shares in total to the LP Partners. On completion of the phase 3 programs and paying concession fees, the Company will earn an additional 20% undivided interest for a total of an undivided 80% interest in the property. The Company, upon the delivery of a bankable feasibility study, will have an option to purchase a further 10% property interest for a payment related to the discounted net present value of the project. The LP is in the process of assigning its interest to Energy Metals Discovery Group LLC.