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One World Lithium set to drill more Mexican targets

Bnamericas Published: Wednesday, March 18, 2020
One World Lithium set to drill more Mexican targets

One World Lithium announced a second phase of exploration drilling at its Salar del Diablo lithium project in Mexico after permits were secured.

The drilling, environmental and occupancy permits allow the company to begin exploration at two targets in the south end of the Baja California state property, the company said in a statement.

Drilling will begin as soon as a diamond drill rig arrives on site, it added.

Operator Mike Rosko, of Montgomery and Associates, said there was evidence of historical and current hydrothermal activity in the target areas, which can be a source of lithium.

Vancouver-based One World has a 60% interest in Salar del Diablo and the option to increase ownership to 90%.

While still at an early stage of development, One World Lithium’s plans for further drilling at Salar del Diablo is a further sign of interest in Mexico’s lithium assets ahead of a forecast boom in demand, driven mainly by production of batteries for electric vehicles.

Mexico hosts 20 lithium assets, with Bacanora Lithium’s US$420mn Sonora project likely to be the first to enter production in 2022.

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