Plantation, Florida--(Newsfile Corp. - September 28, 2022) - Atacama Resources International, Inc. (OTC Pink: ACRL) ("Atacama") remains focused on its asset exploration and development program and is pleased to announce that the company has acquired mining rights to a 317 acre cobalt, silver, macro diamond, and gold property. Atacama has taken grab samples near the existing trenches, pits, and shallow shafts on the property and plans to do more extensive exploration in the near future. Initial assay results indicated trace amounts of gold and larger amounts of silver, diamonds and cobalt. 1.22% cobalt has been found near one of the shaft areas and the prospecting report recommends further backhoe stripping to uncover the original bedrock surface. Atacama is calling the 317 acre property of rich cobalt "Atacama Cobalt #1."
Located in the largest cobalt region in the world, Atacama is also fortunate to be located near North America's only battery grade cobalt refinery. The proximity of this refinery in Temiskaming, Ontario to our property could help provide a significant cost savings compared to our global competitors. This refinery is set to be completed by December 2022 into 2023 indicating a growing demand for rare metals like cobalt. We have been looking at other claims in the area and look forward to further development of this property as it shows significant potential in a rapidly expanding global EV market.
Originally, the rising demand for cobalt was due to its use in super alloys needed in nuclear reactors, jet and rocket engines, turbines, power plants and in various military and aerospace technologies. While these are still active markets for cobalt, the emergence of electric vehicles has increased the demand for cobalt significantly. As the newly mandated replacement for gas powered vehicles begins to take place in more areas globally, we feel the demand for rare metals used in manufacturing high-power rechargeable batteries will continue to grow in large demand. We feel positioning ourselves in multiple metal markets such as in Canada, the United States, and elsewhere will provide opportunities for Atacama to grow internationally.
According to Board Chairman Glenn Grant, "The emergence of the EV industry has changed the transportation world forever and Atacama Resources is committed to providing the metals required to support this exciting and rapidly expanding industry. While acquiring the Atacama Cobalt #1 Property is an important part of our strategy, it is only a small fraction of what we plan to accomplish. In addition to this property, the company is also moving forward on the acquisition of additional strategic properties and we will announce these assets in the near future. We will also remain focused on Atacama's goals and providing transparency to shareholders where we can. Completing our audited financial statements remains top priority and we continue to make progress there as well. Thank you, shareholders for your continued patience and support as we help build Atacama into its full potential."
Please stay tuned on social media and our website for additional information as those updates become available.
About Atacama Resources International (www.acrlintl.com)
Atacama Resources International is a publicly traded OTC Pink company with significant mining claims in the greater Kirkland Lake area of Northern Ontario. Metals and minerals under potential exploration include gold, silver, copper, graphite, and cobalt.
Forward-Looking Statements
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Atacama Resources International. Such forward-looking statements are based on current expectations, estimates, and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports as filed with OTC Markets. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.
For more information please contact: Glenn Grant at ggrant@acrlintl.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138601
