Could 3, 2022 (Investorideas.com Newswire) The explorer, which accomplished its geophysical surveys on the Rincon West lithium venture, will use the information to focus on drilling.
Argentina Lithium and Energy Corp. (LIT:TSX; PNXLF:OTC; OAY3:FSE) simply reported that it has accomplished the geophysical surveys at its Rincon West lithium venture in Argentina’s Salta province, situated within the “Lithium Triangle” that straddles Argentina, Chile, and Bolivia’s borders and produces about half of the world’s lithium. The company announced that the research “develop the potential extent of conductive brine aquifers on the venture and will likely be used to focus on drilling on the property.” The drilling is predicted to start in Could.
The Rincon West venture encompasses 2,470 hectares of the salar – salt lake – basin and is situated simply west of the Rincon Challenge. Rio Tinto lately bought the Rincon venture from a personal entity for $825 million.
Some 36.4 line-kilometers of transient electromagnetic (TEM) soundings have been carried out at Rincon West. The corporate famous that “the surveys present electrical resistivity knowledge able to detecting and delineating conductive strata doubtlessly related to concentrated lithium brines. TEM soundings are a sophisticated reconnaissance method incessantly employed within the exploration of lithium salars.”
Determine 1 presents a map exhibiting the extent of extremely conductive subsurface strata on the venture (shaded yellow), interpreted from the TEM to symbolize the potential extent of concentrated brine aquifer. The potential floor outlined by the TEM survey covers 1,570 hectares or roughly 64% of the venture.
Miles Rideout, Argentina Lithium’s VP of Exploration, famous, “The TEM surveys counsel that interpreted brine aquifers prolong considerably additional west and south than indicated by earlier electrical surveys, demonstrating better potential than anticipated by the earlier homeowners. We plan to start drilling in Could to check these targets.
“These new geophysical knowledge enable us to evaluate potential aquifer high quality and depth previous to drilling, which is extraordinarily advantageous for concentrating on,” he added.
Determine 2 presents a sequence of TEM sections overlaid on the interpretation map. The higher certain of every part represents the topography of the terrain at floor. The decrease extent of every part represents the utmost depth of investigation, not the restrict of the conductive targets. On this presentation, heat colours shading red-to-purple designate electrically-conductive strata per brine aquifers in a salar setting. Chilly colours (blue-white) symbolize resistive items interpreted to lack lithium brine potential. The offered resistivity unit is Ohm-m. Based mostly on printed drill knowledge and geophysics from related salar initiatives, the corporate expects potential aquifer zones to exhibit resistivities under roughly 5 Ohm-m. Brine-rich porous items are anticipated to supply resistivities on the order of 1 Ohm-m.
The announcement from Argentina Lithium comes amid sky-high lithium costs. Fortune reported that the lithium costs have “surged a staggering 438% above final 12 months,” as provide struggles to maintain up with electrical car battery demand.
Argentina Lithium is on the radar of trade observers and is considered one of The Critical Investor’s seven prime picks for the 12 months. The analyst wrote in January 2022:
“As a member of the Grosso Group, Argentina Lithium is firmly centered on Argentina for doing enterprise. Joe Grosso and his folks have been conducting exploration and growth for many years within the LatAm nation, and as such know precisely easy methods to efficiently navigate the generally complicated processes in Argentina. After a interval of relative inactivity as a consequence of decreasing lithium sentiment, Argentina Lithium acquired a number of potential brine lithium properties within the so-called Lithium Triangle, raised virtually C$6 million, and is finishing surveys and exploration allowing in the meanwhile, as preparation for drill packages at two of their initiatives later this 12 months.
“Considered one of these initiatives is the Rincon West venture, and curiously the following door Rincon venture (owned by Rincon Mining, a personal firm owned by Sentient Fairness Companions) was lately acquired by Rio Tinto for $825M. With lithium product costs at all-time highs and over 4 occasions the degrees wanted to render 300-400Mg/L Li grades for brines financial, there appears to be a fairly good likelihood at exploration success this summer time.”
On Jan. 14, The Essential Investor reported that Argentina Lithium raised slightly below CA$6 million in a non-brokered personal placement the top of final 12 months and purchased choices on extra properties.
“This survey at Argentina Lithium’s Rincon West Challenge is amongst our prime priorities to scout for and purchase properties which have the potential to host lithium deposits,” Rideout stated.
Argentina Lithium holds extra properties within the Lithium Triangle. Antofalla North consists of 9,000 hectares of mining claims, with one other 5,380 hectares optioned. Albemarle, a significant lithium producer, holds land simply 500 meters to the south of the Antofalla North venture.
The Pocitos venture has some 26,000 acres underneath possibility and has seen restricted exploration. The corporate plans to conduct TEM surveys on the property this 12 months.
The Incahuasi venture, encompassing greater than 25,000 hectares, is situated 34 km from the city of Antofagasta de la Sierra in Catamarca province. 4 drill holes confirmed lithium-bearing brines of a median of 109 mg/L lithium and 6,718 mg/L potassium. TEM surveys are planning for this 12 months.
Argentina Lithium has practically 74 million shares issued and 97 million shares totally diluted. Its market cap totals roughly CA$32 million.
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