An Update On Lithium X Energy Corp

Lithium X Energy Corp has quickly become one of the most talked about names among lithium investors over the past few months. The company has assembled one of the best management teams in the entire junior lithium space. Shares have consolidated over the past month and we think things are going to heat up rather quickly again and a breakout is just around the corner.For those that are not familiar with the company, we first profiled Lithium X Energy last month. The company is a lithium exploration and development company with a goal of becoming a low-cost supplier for the burgeoning lithium battery industry. Lithium X owns 50%, and has the option to acquire up to 80% of the Sal de los Angeles lithium brine project in the prolific “Lithium Triangle” in mining friendly Salta province, Argentina, a well-known salar with positive historical economics, grade and size. Lithium X is also exploring a large land package in Nevada’s Clayton Valley, contiguous to the only producing lithium operation in North America – Silver Peak, owned and operated by Albemarle, the world’s largest lithium producer. The company trades under the symbols LIX in Canada, LIXXF on the OTC Markets, and RUT in Germany.The latest news from the company is the filing of a National Instrument 43-101 technical report prepared by FloSolutions ( Chile ), dated August 30, 2016 and entitled Resource Estimate for Lithium & Potassium, Sal de los Angeles Project, Salta ( Argentina ) containing its first independent lithium ("Li"), potassium ("K") and boron ("B") resource estimate for the Sal de los Angeles brine project at Salar de Diablillos. The NI 43-101 resource estimate, prepared by FloSolutions, includes an Indicated component of 194,860 tonnes of lithium at an average grade of 501 milligrams per litre ("mg/l") (1,037,000 tonnes of lithium carbonate equivalent) ("LCE") and 2,143,491 tonnes of potassium at an average grade of 5,512 mg/l (4,088,000 tonnes of potash ("KCl") equivalent). The resource estimate also established an inferred resource of 189,130 tonnes of lithium at 410 mg/l (1,007,000 tonnes of LCE) and 2,068,161 tonnes of potassium at 4,489 mg/l (3,948,000 tonnes KCl equivalent).The resource estimate confirms the favorable chemistry of the Sal de los Angeles brine. The low magnesium to lithium ratio has been shown to be a significant factor in reducing the use of common reagents employed during lithium concentrate production using conventional solar ponds. Based on the geological model, approximately 95% of the brine volume in this resource is hosted by predominantly sand and gravel aquifers; the balance is hosted in silt or clay dominated units. COO Eduardo Morales said:

"The overall quality of the brine continues to impress with its low level of impurities. We now have an indicated resource allowing us to develop a Feasibility level study. Lithium X is assembling a team of in-house and external consultants, led by Andres Barrientos and myself, to advance Sal de los Angeles through feasibility and on to construction as efficiently as possible. The quality and quantity of the Sal de los Angeles brine should allow for a world-class operation. We intend to demonstrate the viability of such an operation in the coming months."

The NI 43-101 resource estimate puts Lithium X one step closer towards its feasibility study. The founder and CEO of Lithium X, Brian Paes-Braga, said:

"This resource estimate confirms the significance of the Sal de los Angeles deposit and will form the basis of a Feasibility Study. Our experienced operating team, led by Eduardo Morales, continues with ongoing processing and engineering work. These are major steps towards bringing Sal de los Angeles into commercial production."

We believe that Lithium X Energy remains one of the best plays for investors look to bank on the lithium boom. Just looking at the players behind the company tells you all you need to know. With Lithium X, we have billionaire mining titan and Bill and Hillary Clinton pal Frank Giustra, founder and CEO Brian Paes-Braga, Executive Chairman Paul Matysek, and COO Eduardo Morales. Eduardo Morales is especially key because of his experience with lithium. He was President of Rockwood Lithium Latin America, where he successfully led the development, commissioning and operation of Rockwood’s Salar de Atacama project. His tenure with Rockwood Lithium ended with the company’s sale to Albemarle Corporation for US$6.2 billion in 2014. With over $18 million in cash on hand, Lithium X is fully funded for Phase 1 exploration in Nevada and all current planned development activities in Argentina. We will be updating our subscribers as soon as we know more. For the latest updates on Lithium X, sign up below!

Disclosure: We have NO position in Lithium X Energy Corp and have NOT been compensated for this article.