Argentina Lithium Commences Exploration Drilling at Rincon West
Argentina Lithium Commences Exploration Drilling at
Rincon West
VANCOUVER, BC
,
May 31, 2022
/CNW/ -
Argentina Lithium & Energy Corp.
(TSXV: LIT) (FSE: OAY3) (OTC: PNXLF)
,
("Argentina Lithium" or the "Company")
announces the commencement of exploration drilling at its Rincon West lithium
project in
Salta Province
,
Argentina
. Five exploration holes are initially planned to test multiple prospective brine targets
identified from the geophysical survey data announced in the News Release dated
May 2, 2022
. This drill program is
expected to require four months to complete.
The Rincon West project covers 2470 hectares of the salar basin, located west of the adjacent Rincon Project owned by
Rio Tinto. Previously announced geophysics results delineated highly conductive units consistent with concentrated brine
aquifers over 64% of the property area. On
May 27
, the first of five exploration holes was initiated to test the geophysical
targets. Two thousand metres of diamond drilling is budgeted for this initial campaign. The Company's drilling permit allows
up to nine exploration holes, thus the scope of the program may be expanded based on results.
"The Rincon West project has never been drilled though it is highly prospective. In this initial campaign, we are looking for
high lithium grades and horizons that can produce high flow rates for a potential future production operation. The initial
exploration holes have been located on the geophysics traverses in order to allow extrapolation of drill results more
broadly across the geophysics coverage. Since the geophysics produced multiple exceptional targets, we hope to produce
positive results early in this program."
stated
Miles Rideout
, V.P. of Exploration.
The drilling contract has been awarded to AGV Falcon S.R.L, an experienced drilling contractor with offices in
Salta
Province
,
Argentina
. Brine samples will be analyzed by Alex Stewart Assayers Argentina S.A., a subsidiary of Alex Stewart
International. The quality of sample analytical results will be assessed with a protocol of blank, duplicate and control
samples to be included in each sample suite.
Argentina Lithium has an option to earn a 100% interest in the Rincon West project, as described in the Company's
September 28, 2021
News Release.
Qualified Person
David Terry
, Ph.D., P.Geo. is the Company's Qualified Person as defined in National Instrument 43-101. Dr. Terry is
responsible for oversight of the Company's early-stage exploration at the Rincon West property. The disclosure in this news
release has been reviewed and approved by Dr. Terry.
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 management group has a long
history of success in the resource sector of
Argentina
and has assembled a first rate team of experts to acquire and
advance the best 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
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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Argentina Lithium & Energy Corp.
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For further information:
Corporate Communications: Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email:
CO: Argentina Lithium & Energy Corp.
CNW 07:00e 31-MAY-22