Millennial Lithium Corp. said Feb. 2 that it secured an option to buy a 100% interest in the Pocitos West project in Argentina, which covers 15,857 hectares of prospective lithium brine concessions.

Under the definitive option deal, Millennial can exercise the option within three years by making payments totaling US$4.5 million.

One of the vendors of Pocitos West is a non-arm's length party of the company.

The property is located 40 kilometers due west of Millennial's flagship Pastos Grandes project, where recent drilling confirmed significant lithium brines from surface to depths of 400 meters.