Mineral Property Expenditures

3 Months Ended

Mar. 31, 2017

Mineral Property Expenditures

Mineral Property Expenditures

6. MINERAL PROPERTY EXPENDITURES

Mineral property expenditures by geographical location for the three months ended March 31, 2017 and 2016 are as follows:

	For the Three Months Ended March 31,
	2017	2016
	(thousands of dollars)
Temrezli project, Turkey	$                   98	$                   241
Total Turkey projects	98	241
Kingsville Dome project, Texas	262	234
Rosita project, Texas	112	68
Vasquez project, Texas	169	158
Other projects, Texas	1	22
Total Texas projects	544	482
Cebolleta project, New Mexico	-	1
Juan Tafoya project, New Mexico	6	7
Total New Mexico projects	6	8
Columbus Basin project, Nevada	117	-
Other projects, Nevada	4	-
Total Nevada projects	121	-
Total expense for the period	$                   769	$                   731

On March 24, 2017, the Company’s wholly owned subsidiary Lithium Holdings Nevada LLC entered into an option agreement to purchase a block of unpatented placer mining claims covering an area of approximately 3,000 acres within the Columbus Salt Marsh area of Esmeralda County, Nevada. The claims adjoin a portion of the Company’s current property holdings at its Columbus Basin project, expanding the project area within the basin to approximately 14,000 acres. The Company has the right to conduct exploration activities on the claims during the one-year option period. Under the option agreement, the Company may acquire the mineral property claims on or before March 24, 2018 in exchange for 200,000 shares of its common stock and a 1% NSR Royalty on the claims. The Company paid $75,000 for this option, which has been included as exploration expense for the Columbus Basin project.