THUNDER BAY, ONTARIO–(Marketwired – Nov. 30, 2016) – Alset Energy Corp. (TSX VENTURE:ION) (“Alset” or “the Company”) is pleased to provide an update regarding ongoing work encompassing re-sizing the concessions as well as permitting efforts on the Company’s Mexican Lithium Salar projects.
The largest concession, Sutti 19 located in the State of San Luis Potosi, Mexico, is currently being split into 18 smaller concessions that will result in the reduction of annual work requirements required by the Mexican government but without any loss of ground. Concession Sutti 19 covers approximately 8776 hectares and will be split into 18 separate new contiguous concessions with a maximum of 500ha each. The total amount of hectares will remain unchanged however the expenditures required by the Mexican government will be drastically reduced (see Alset PR October 4, 2016). Surveying monuments were erected to facilitate this work and were completed by the Company’s team of consultants in Mexico. The paperwork associated with this effort is currently being finalized and will be submitted to the requisite Mexican authority promptly. The Sutti 19 concession currently covers numerous salars including Caliguey and Santa Clara. Caliguey was a historical table salt operation that returned high lithium values from 1.2% to 2.1% lithium in 4 samples of fluid collected on the surface of the property by the Mexican government in 1992 (see Alset PR dated September 1, 2016).