#Argentina #Salta #Summit Explore #NOA Lithium #Arizaro Project

Summit Explore and NOA Lithium Join Forces on Arizaro Project

On June 22, 2026, Summit Explore Corporation, a subsidiary of Summit Lithium Technologies, announced a significant partnership with NOA Lithium Brines Inc. This collaboration focuses on the Arizaro lithium brine property located in Argentina's Salta province, a key area well-known for its lithium resources. This agreement is formalized through a non-binding term sheet that outlines a joint venture and option arrangement for the project.

With the aim to earn a 60% interest in the Arizaro Project, Summit Explore will conduct comprehensive technical studies and invest a defined amount in cash and equity into NOA. This strategic move allows NOA to retain a 40% interest in the Project, while both companies are set to finalize a definitive agreement shortly to govern the terms of this collaboration.

Amanda Hall, the Founder and CEO of Summit Explore and Summit Lithium Technologies, expressed enthusiasm about the venture, highlighting Argentina's wealth of lithium brine resources. She emphasized the importance of consolidating quality brine supply, which would significantly reduce production costs for smaller projects that otherwise struggle to be developed independently.

Gabriel Rubacha, CEO of NOA Lithium Brines Inc., called this partnership a crucial milestone for the company as it seeks to enhance the value of its lithium brine portfolio. With the previous project, Rio Grande, moving toward its Pre-Feasibility Study (PFS), the collaboration with Summit opens up new avenues for accelerating the development of Arizaro. By leveraging Summit's resources and their advanced direct lithium extraction (DLE) technology, NOA aims to unlock significant value.

Agreement Details: A Milestone in Investment and Exploration

The earn-in arrangement has several structured components. Summit Explore's total investment required is estimated at about USD 3.5 million and includes staged cash payments as well as equity investments. For example, a Preliminary Economic Assessment (PEA) is to be funded and completed by September 2027, which will be critical for outlining the project’s economic viability.

Upon completion of the PEA, Summit Explore will make a notable investment of $750,000 in NOA, structured as a private placement of common shares. This investment will be priced according to the historical trading volume of NOA on the TSX Venture Exchange, reflecting the company’s share market performance.

Furthermore, a Preliminary Feasibility Study (PFS) is also part of the requirements, which entails a cash payment of $2.75 million within a two-year period after the definitive agreement is signed, ensuring the Project moves toward realization.

Once Summit has secured its 60% interest, both parties will collaborate under a joint venture framework to propel the Project toward full-scale development, with Summit overseeing operations.

Innovative Development Approach

Summit’s approach encompasses testing representative brine samples from Arizaro at their rapid-validation demonstration facility located in Santiago, Chile. This facility will evaluate how well the brine complements Summit's proprietary denaLi™ DLE technology, which focuses on maximizing lithium recovery while minimizing impurity and resource use.

Additionally, this is part of a broader consolidation strategy by Summit. They aim to aggregate multiple brine properties in Salta, which serves to enhance the efficiency and cost-effectiveness of establishing a centralized processing facility that can handle up to 5,000 tonnes annually of lithium carbonate equivalent.

Summit's commitment to inventive development models, such as the Build-Own-Operate-Maintain (BOOM) approach, reflects their dedication to strengthening project economics and delivering reliable, low-cost lithium supplies to the battery industry.

Company Backgrounds: Summit Explore and NOA Lithium

Summit Explore is devoted to advancing high-potential lithium brine resources situated within the Lithium Triangle and the United States, employing Summit Lithium Technologies' patented DLE techniques.

On the other hand, NOA Lithium Brines is focused on developing lithium resources within this prominent Lithium Triangle region of Argentina, having rapidly assembled a large portfolio of brine claims. Their strategic positioning within proximity to other major lithium operations underscores their potential in this booming sector.

As both Summit Explore and NOA Lithium embark on this joint venture, it exemplifies a growing trend in the lithium industry where collaboration and technological innovation are key to unlocking and maximizing resource potential. The Arizaro Project not only represents a significant development opportunity but also showcases the potential collaborative efforts that are shaping the future of lithium extraction in South America.