Recharge Resources Ltd. has announced that it has settled with Quantec Geoscience Argentina S.A. to provide a Controlled-Source Magnetotellurics (CSAMT) audio-telleric geophysical survey to distinguish the lithology and potential aquifers on its 800-ha property down to a depth of 500 m at the flagship Pocitos 1 Lithium Brine Project in Salta, Argentina. This survey is scheduled to take place in March or April 2023.
The additional geophysical information will be very helpful in determining the lithological properties and low-resistivity regions that often contain brines. Geologists and gas specialists intend to catch the gas to ascertain its chemical composition and source (whether it originates from hydrocarbons or “air pockets,” as the original research suggested), along with its origin.
Also, they will use a 2-inch submersible pump to evaluate the flow of water while attempting to stabilize the NQ drill rod. The surface-level phreatic brine can be pumped in less than 50 m.
After the hole was completed and two weeks later, the lithium analysis was done, and the results showed that there were 161 and 164 ppm of lithium, respectively, which was enough for the Ekosolve DLE lithium process to accept a sample for test processing.
This is yet another planned step in the company’s effort to construct a 20,000-ton lithium extraction Ekosolve plant at its Pocitos 1 project intended to supply the battery material clients of Richlink Capital Pty. Ltd. with up to 20,000 tons of lithium chloride/carbonate every year, as previously stated under a letter of intent.
According to TradingEconomics.com, lithium is selling for 472,500 yuan per ton, or the equivalent of $69,252 (U.S.) a ton, on the spot market (February 13th, 2023).
With three existing drill holes in place, this new drilling and this CSAMT audio-telleric geophysical survey will all contribute to establishing an NI 43-101 mineral resource estimate. We have benefitted greatly from an Argentinian geological team which has empowered us continue to make progress towards our next goal of establishing a NI 43-101 compliant mineral resource, then a scoping study of the project and, working with our Chinese offtake partners and investors for lithium chloride products for the Pocitos 1 Project.
David Greenway, Chief Executive Officer, Recharge Resources Ltd.
About Pocitos 1 Lithium Brine Project
The township of Pocitos, which offers gas, electricity, mobile telephone, and internet services, is about 10 km from the Pocitos Project. Pocitos I has a total area of around 800 hectares and is accessible via road.
The property has been explored by previous exploration teams for more than US $1.5 million, including trenching, TEM geophysics, and drilling two 400-m holes that produced exceptional brine flow data. For upcoming exploration, locations have already been planned and chosen for fast follow-up drilling.
A.I.S. Resources Ltd (AIS) discovered lithium readings of up to 125 ppm from Alex Stewart's laboratory examination during the project’s initial drill campaign in May 2018. In HQ Diamond drill holes that were drilled to a depth of 409 m, AIS utilized a double packer sampling technique.
Around five hours of continuous brine flow were recorded. Outstanding brine flow rates were present in both drill holes. The third production-ready drill hole is what Recharge intends to complete the NI 43-101 mineral resource calculation.