Pan Andean Minerals Ltd. Announces Non-Binding LOI with Belmont to Acquire Lithium Project Interest
Pan Andean or the
Company ) is pleased to announce it has entered into a non-binding Letter of Intent ( LOI ) agreement with Belmont Resources Inc. ( BEA or Belmont ) to acquire a 25% interest in the A Block of the Kibby Basin Lithium Project (the Kibby Lithium Property ).
Belmont is the owner of the property known as the A Block, located 65 km north of Clayton Valley, Nevada, U.S.A. (2,971 acres, 1,202 ha) claim block.
The Kibby Lithium Property is approximately halfway between Las Vegas and Reno and located 65 km north of Clayton Valley Basin with Albemarle Corporation s lithium brine producing operations (Silver Peak Mine). Analyzing geophysical and drilling data, Belmont believes there is great potential for both brine and clay lithium in the Kibby Basin.