Le Lézard
Classified in: Mining industry, Business
Subject: CON

Restructure of brine extraction rights at Diablillos with Lithium X



BRISBANE, Australia, Oct. 4, 2017 /CNW/ -- Orocobre Limited (ORE: ASX, ORL: TSX) (Orocobre) is pleased to announce the execution of agreements with Lithium X Energy Corp. (TSXV: LIX) (OTCQX: LIXXF) ("Lithium X") in respect of tenure held by Orocobre subsidiaries, Borax Argentina S.A. ("Borax") and South American Salars S.A. ("SAS") at the Salar de Diablillos.

Lithium X through its wholly-owned subsidiary, Potasio Lithio de Argentina S.A. (PLASA) will acquire 2,700 hectares of tenements from Borax over which Lithium-X currently holds usufruct rights for the extraction of lithium brines.  Lithium-X will also acquire a further 700 hectares owned by SAS which had been excluded from the Advantage Lithium transaction (ASX release 28 March 2017).  These tenements will be consolidated into the PLASA project, Sal de los Angeles (SDLA) in Salta Province, Argentina. 

Under the agreement:

Managing Director Richard Seville commented, "This transaction further clarifies the focus on our world class Olaroz lithium facility and simplifies the current tenement position at Diablillos.  The royalty we have retained also provides for a potential income stream in the future."

For more information please contact:

Richard Seville

Andrew Barber

Managing Director

Investor Relations Manager

T: +61 7 3871 3985

T: +61 7 3871 3985

M:+61 419 916 338

M: +61 418 783 701                          

E: rseville@orocobre.com

E: abarber@orocobre.com

About Orocobre Limited
Orocobre Limited (Orocobre) is a dynamic global lithium carbonate supplier and an established producer of boron.
Orocobre is dual listed on the Australia and Toronto Stock Exchanges (ASX: ORE), (TSE: ORL). Orocobre's operations include its Olaroz Lithium Facility in Northern Argentina, Borax Argentina, an established Argentine boron minerals and refined chemicals producer and a 35% interest in Advantage Lithium.

For further information, please visit www.orocobre.com.

______________________________

1 Mine Mouth Royalty is calculated as revenue less all costs incurred from the point of brine extraction.

SOURCE Orocobre Limited


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News published on 4 october 2017 at 20:12 and distributed by: