Dempsey Minerals has finalised its purchase of Hombre Muerto lithium project in Argentina and welcomed two new directors to the board.
The company has acquired all the issued shares in the capital of Blue Sky Lithium which owns the Hombre Muerto project located in Catamarca Province, Argentina.
The project lies within the South American Lithium Triangle in the Hombre Muerto Basin, one of the most important and prolific salt flats in Argentina and indeed the world and is situated adjacent to Galaxy Resources’ Sal de Vida project and FMC’s Fenix lithium operations.
Initial results from the project have exceeded company expectations. Recently, results from a gravity survey conducted over the 15km length of the Candelas lithium brine leases at Hombre Muerto provided significant potential for the presence of a substantial amount of brine.
Dempsey has also appointed two new directors to the Board – Juan Pablo Vargas de la Vega (JP) as the Managing Director and Jinyu Liu as a Non-Executive Director.
JP is a Chilean/Australian mineral industry professional with 15 years broad experience in ASX mining companies, stockbroking and private equity firms and has a firm understanding of the global lithium market stemming from his prior role as a specialist lithium analyst in Australia.
Mr Liu is a qualified mining engineer and is the founding Managing Partner of Havelock Mining Investment, a Hong Kong investment company and has been involved with numerous investments in ASX listed companies and is currently a Director of Okapi Resources Ltd.
Meanwhile, Patrick Corr has resigned from the Board of the Company due to increased business commitments.
Shares in Dempsey remain unchanged at 17.5c in afternoon trade.
