American Salars Expands Lithium Portfolio with Québec Project Acquisition
Vancouver-based American Salars Lithium has signed an agreement to acquire the Lac Simard South Project in Québec, marking its first re-entry into the region. The Lac Simard South Project includes 64 claim blocks covering 3,672.75 hectares, neighboring Sayona Mining and Refined Metals' Lac Simard property, which has reported samples of 4.52% lithium oxide and 5.88% tantalum oxide.
To acquire the project, American Salars will issue 50,000 shares to Quartier Mineral. The company, currently valued at around C$3.6 million ($3.9 million), already has an extensive portfolio of lithium brine projects in Argentina and Nevada, USA. Its primary focus is the Candela II Lithium Brine Project in Argentina, which covers 3,000 hectares and hosts an inferred resource of 457,000 tonnes of lithium carbonate equivalent (LCE).
The company also has a shared resource of 760,000 tonnes of LCE at the Pocitos 1 Lithium Brine Project, which it shares with the neighboring Pocitos 2 Project, not owned by American Salars. CEO Robert Horsley noted that the acquisition of Lac Simard South is part of American Salars’ broader strategy to build a strategic portfolio of hard rock lithium projects to complement their existing brine assets.
Horsley emphasized that the company remains confident in a rebound of lithium prices and is using this opportunity to expand its portfolio across multiple jurisdictions. The Lac Simard South project spans multiple townships, including Beauneville, Clérion, Delbreuil, and Chabert, and is situated approximately 80 kilometers southwest of Sayona's Authier Lithium Project, which hosts one of the largest lithium resources in Québec.
According to American Salars, this lithium hub is easier to access and offers lower exploration costs compared to the James Bay region. The claims in the eastern sector are accessible by logging roads, while the southern and western areas can be reached by boat or all-terrain vehicle. The project also benefits from nearby infrastructure, including an operating lithium concentrator and a planned lithium carbonate/hydroxide conversion plant, reducing the need for redundant processing facilities.
