Argentina Lithium Announces a 327-metre Lithium Brine Interval at the 13th Exploration Well on the Rincon West Project
Argentina Lithium Announces a 327-metre Lithium Brine Interval at the 13th
Exploration Well on the Rincon West Project
TSX Venture Exchange (TSX-V):
LIT
Frankfurt Stock Exchange (FSE):
OAY3
OTCQX Venture Market:
LILIF
VANCOUVER, BC
,
Oct. 1, 2024
/CNW/ -
Argentina Lithium & Energy Corp.
(TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF)
, ("Argentina Lithium" or the
"Company")
reports positive results from the thirteenth exploration well at its Rincon West Project in
Salta Province
,
Argentina
. A total of 24 representative
3 m
brine samples collected over a 327-metre interval of RW-DDH-13 ranged from 269 to 340 mg/l lithium.
"Our most recent drilling is located to test the highly prospective formations of sandy layers interspaced with crystalline halite, located along our eastern
property boundary beside Rio Tinto's project. To expand on these recent results, we are currently executing the 14
th
and final diamond hole of this exploration
campaign, and we have begun the rotary drilling that will allow us to begin pump testing on production-scale wells. Our initial exploration model for Rincon
West has been borne out by all the results received to date."
stated
Miles Rideout
, V.P. of Exploration.
The results, including sampling method, sample interval data, and brine analyses for RW-DDH-13 are shown in Table 1. Drill collar information is presented in
Table 2. An extensive selection of core samples will be sent to an independent laboratory for brine recovery testing.
The Rincon West Project covers 5198.8 hectares of the salar basin, consisting of three property blocks adjacent to Rio Tinto's Rincon Project. Drill hole RW-DDH-
13 represents the fourth exploration hole of the 6-hole program planned for the Rinconcita II property, announced in the Company's
October 19, 2023
News
Release. The Company is currently completing the fifth diamond drill hole (RW-DDH-14), to finalise the exploration drilling along the eastern border of the
property block, and is also drilling a rotary well adjacent to RW-DDH-11, in preparation for pump tests.
Figure 1
presents a map of the western (main) block of the Rincon West project showing the positions of the fourteen exploration diamond drill holes and single
rotary hole completed and underway in this program (see News Releases dated
July 13, 2022
,
October 3, 2022
,
October 25, 2022
,
January 26, 2023
,
April 24, 2023
,
May 31, 2023
,
January 22, 2024
and
April 24, 2024
. The drill location plot is overlain by a yellow shaded outline of electrically conductive zones
delineated by two geophysics campaigns (see News Releases dated
May 2, 2022
and
October 19, 2023
).
Table 1: Interval data and results of brine analyses for lithium, potassium, and magnesium
for drill hole RW-DDH-
13*
Sample Interval
(m)
Sample
Method
Li
K
Mg
Density
From
To
Thickness
(mg/litre)
(g/ml)
30.5
33.5
3.0
Single packer
280
5439
3986
1.194
42.5
45.5
3.0
Single packer
313
6291
3109
1.209
48.5
51.5
3.0
Single packer
307
6073
3007
1.214
60.5
63.5
3.0
Single packer
299
5893
3723
1.200
66.5
69.5
3.0
Single packer
316
6335
3419
1.205
72.5
75.5
3.0
Single packer
269
5753
2624
1.219
78.5
81.5
3.0
Single packer
294
6110
2647
1.216
36.5
39.5
3.0
Double packer
313
6335
3170
1.208
84.5
87.5
3.0
Single packer
298
6178
2784
1.218
90.5
93.5
3.0
Single packer
296
6158
2729
1.218
102.5
105.5
3.0
Single packer
277
5746
2863
1.212
150.5
153.5
3.0
Single packer
316
6840
2728
1.222
192.5
195.5
3.0
Single packer
293
6256
2649
1.221
198.5
201.5
3.0
Single packer
317
6559
2905
1.221
216.5
219.5
3.0
Single packer
301
6266
2712
1.222
210.5
213.5
3.0
Double packer
305
6340
2758
1.222
204.5
207.5
3.0
Double packer
306
6410
2620
1.222
252.5
255.5
3.0
Single packer
340
6667
3135
1.221
258.5
261.5
3.0
Single packer
311
6484
2633
1.222
282.5
285.5
3.0
Double packer
299
6287
2729
1.222
276.5
279.5
3.0
Double packer
304
6430
2792
1.222
300.5
303.5
3.0
Single packer
306
6460
2731
1.222
306.5
309.5
3.0
Double packer
301
6796
2525
1.222
354.5
357.5
3.0
Single packer
307
6495
2802
1.221
*The drill hole was inclined vertically; the brine hosting strata are believed to be flat lying resulting in reported intervals approximating true thickness.
Drilling Methodology
RW-DDH-13 was executed with HQ-diameter diamond drilling, permitting the extraction of core samples of the salar basin formations and the recovery of brine
samples where possible.
Drilling was carried out by Salta-based AGV Falcon Drilling SRL, under the supervision of Argentina Lithium's geologists.
Table 2: Collar and maximum depth information for RW-DDH-013
Hole ID
East
North
Elevation
Azimuth
Dip
Depth
UTM Zone 19S (WGS84)
(m)
(deg.)
(deg.)
(m)
RW-DDH-13
685205
7337933
3714
n/a
90
471.5
LIT's preferred method for brine sampling deploys a 'single packer' sampling unit during drilling. The packer sampling method allows the recovery of brine samples
at specific depths while sealing the hole at the top and bottom of the interval. For single packer sampling, an inflatable seal closes the top of the interval; the lower
limit of drilling represents the bottom of the interval. In certain instances, double packer sampling is conducted following the completion of drilling. In this case,
inflatable seals are employed to close both the top and bottom of the sample interval. With both methods the Company has opted to recover brine samples over 3
metre intervals.
Geophysical profiling and lining the hole with 2" diameter PVC filters have been completed. All core samples recovered in drilling were retained for geologic
logging.
Observations regarding
RW-DDH-013
RW-DDH-13 extends drilling eastwards from previous holes, to the northeast corner of the Rinconcita II property on the Rincon salt flat. The hole was drilled to
471.5 m
depth. A total 24 brine samples, extracted using the single and double packer methods, were submitted for chemical analysis.
Brine samples collected between
30.5 m
depth and
357.5 m
depth (the deepest sample) ranged from 269 to 340 mg/l lithium. Over this
327 m
interval, 24 single
and double packer brine samples were collected from discrete
3 m
intervals, totalling
72.0 m
of sampling, representing 22.0% of the total interval.
Drilling from surface to
41 m
depth intersected mixed sediments with dominant clay. Altered and fractured ignimbrite was drilled between 41 and
77 m
depth. Fine
black sand was then sampled to
101 m
, followed by clays with sand to
113 m
. Crystalline halite (salt) was drilled between 113 and
184 m
, though sandy layers
were crossed at 151 and
153 m
. Fine sand with a clay matrix was drilled from 184 to
191.5 m
depth. Crystalline halite was then intersected to
206 m
, also
containing sandy layers in the lower part of the interval. Medium sand with a clay matrix was drilled between 206 and
228.5 m
, interrupted by a layer of crystalline
halite between 211.6 and
217 m
. A sandy breccia was drilled from 228.5 to
236.4 m
, followed by sand in a clay matrix to
242 m
. Crystaline halite was drilled from
242 to
295.8 m
. Units with fine sands were then intersected to
317 m
. Multiple units of clayey breccias were drilled between 317 and 389 metres, followed by
multiple massive clay layers to
422 m
. Breccias, brecciated ignimbrite and ignimbrites dominated the drilling from
422 m
to the bottom of the hole at
471.5 m
. The
sandy units described in this sequence are expected to be the most productive levels for extracting lithium brine.
Analyses and QA/QC
Samples of brine were submitted for analysis to Alex Stewart International Argentina S.A. ("Alex Stewart"), the local subsidiary of Alex Stewart International, an
ISO 9001:2017 certified laboratory, with ISO 17025:2017 certification for the analysis of lithium, potassium and other elements.
Alex Stewart
employed
Inductively Coupled Plasma Optical Emission Spectrometry ("ICP-OES") as the analytical technique for the primary constituents of interest, including boron,
calcium, potassium, lithium, and magnesium. Measurements in the field included pH, electrical conductivity, temperature and density.
The quality of sample analytical results was controlled and assessed with a protocol of blank, duplicate and reference standard samples included within the
sample sequences. For hole RW-DDH-013 the lot contained two blank and two duplicate samples, which all reported within the acceptable range. Single low-
grade, medium-grade and high-grade reference standard samples (3 standards in total) were included within the submitted sample suite. The low-grade
reference standard analysed higher than 3 standard deviations (SD) of best value, with 9.5 relative percent difference (RPD); the medium-grade reference
standard analysed below 3 SD of best value, with 2.3 RPD; the high-grade reference standard analysed below 3 SD of the best value; with 3.6 RPD.
Qualified Person
Frits Reidel
, CPG is a Qualified Person as defined in National Instrument 43-101, is the Principal of Atacama Water Consultants, and is independent of Argentina
Lithium. Mr. Reidel has reviewed the work carried out by the Company's exploration team at the early-stage Rincon West property. The disclosure in this news
release has been reviewed and approved by Mr. Reidel.
About Argentina Lithium
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in
Argentina
and advancing them towards production in order to meet the
growing global demand from the battery sector. The Company's
recent strategic investment
by Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V.,
one of the world's leading automakers, places Argentina Lithium in a unique position to explore, develop and advance its four key projects covering over 70,000
hectares in the Lithium Triangle of
Argentina
. Management has a long history of success in the resource sector of
Argentina
and has assembled some of the most
prospective lithium properties in the world renowned "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has
pioneered exploration in
Argentina
since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
_______________________________
Nikolaos Cacos
, President, CEO and Director
www.argentinalithium.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and therefore involve inherent
risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects
or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's
business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-
looking statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those
discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have
the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations
include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface
rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results
will not be consistent with the Company's expectations.
Actual results may differ materially from those currently anticipated in such statements. Readers are
encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The
Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S.
investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral
deposits on adjacent properties are not indicative of mineral deposits on our properties.
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CO: Argentina Lithium & Energy Corp.
CNW 07:00e 01-OCT-24