TUCSON, Ariz., March 19, 2012 (GLOBE NEWSWIRE) -- Pan American Lithium Corp. CEO (TSX-V:PL) (OTCBB:PALTF) (OTCQB:PALTF) CEO Andrew Brodkey highlighted the unique advantages of his company's lithium assets in Chile and the highly favorable climate for the mining industry in Chile in an interview with GLX-TV Financial News. The interview is at: http://www.youtube.com/watch?v=3OVA2qhV1D8&feature=youtu.be
Pan American Lithium owns interests in 11 salars, or mineral-rich brine lakes, with the potential to produce lithium, potassium and other metals, all located in Atacama Region III of Chile. An additional Pan American property is located in Mexico.
Brodkey said that the company has turned down other opportunities in Argentina and Bolivia in favor of doing business in Chile, which he termed the most favorable climate for mining in Latin America.
Now and in the foreseeable future, lithium is essential for the battery power needed for mobile communications and a growing sector of the transportation industry. Lithium demand is expected to grow rapidly over the next several years.
Pan American plans to obtain lithium through pumping, concentrating, filtering and recovery processes at its brine projects. The company is considering technologies that would enable Pan American to achieve an 80% lithium recovery rate from its processing vs. a 40% rate recovery rate currently being seen by competitors, Brodkey said.
Pan American believes that its targeted cost for extracted lithium would place the company's recovery costs among the best in the industry, Brodkey noted. In addition, he said that the company has obtained sampling results in excess of of 1,000 ppm of lithium at one of its sites, which is on par with the best in the world. Pan American plans to continue throughout 2012 the process required to develop specific resource estimates for its properties, Brodkey said.
Brodkey also pointed out that Pan American's sites are located on western side of the Andes Mountains, which gives the company a five-times transportation cost advantage over its competitors in Argentina that must ship their product over the mountains to the ports in Chile that serve Asia.
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as the statements that the Company believes that through this agreement it will reach its goals, which are to increase trading volume as well as achieving a fair market value representation for Pan American shares while increasing the investment community's awareness of the Company. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) inability of the Company to complete its business plan; (ii) a decrease in demand for and price of lithium or potassium; and (iii) general uncertainties with respect to mineral exploration in general. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
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