Arena Minerals Inc is an exploration, development and acquisition company operating in the lithium brine industry.
It explores for lithium and copper in South America.
The firm’s stocks trade on TSXV under the symbol of ‘AN’.
The exploration company focuses on business growth through strategic partnerships. On February 3, 2021, the lithium exploration firm acquired 19.9 per cent stake in the company following a private placement announcement.
Its most recent acquisition includes Sal de la Puna in Argentina from Astra Exploration Ltd, wherein Arena Minerals hold a working interest of 5.82 million shares.
The mining and exploration company acquired its interest in this Argentinian exploration unit by selling its 80 per cent interest in Pampa Paciencia epithermal gold property to Astra. The transaction occurred on May 14, 2021.
Arena’s asset portfolio comprises of four claims on 6,000 hectares in Salar de Antofalla property and 80 per cent stake in Pampa Union Property that consist of two mines in covering 5000 hectares in Antofagasta region of Chile.
Astra is a new mineral exploration entity engaged in gold exploration. The company intends to initiate a drilling program on the acquired property.
The company acquired 100 per cent stake in the Sal de la Puna property in June 2021. The property covers a land area of 11,000 hectares in Pastos Grandes basin.
The project lies in close proximity to the Lithium X Energy Corp’s project and the estimated resource findings as per the drilling activities in 2018 and 2019 include 500,000 tons of lithium carbonate equivalent and 300,000 tons of inferred brine resource of lithium carbonate equivalent, the firm claims.
It further says that the presence of high-grade resource within the aquifer indicates the significant future potential of this project. The project also comprises sufficient land holdings for well field construction and building evaporation ponds.