Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQB:PNXLF) said it has completed the ninth exploration hole at its Rincon West project in Argentina, returning a 258 metre (m) interval ranging from 287 to 402 milligrams per litre (mg/l) lithium.
The lithium projects developer also noted that two portions of the interval were not sampled: one length of 42m and a second length of 33m.
“Our ninth exploration hole has returned the highest peak lithium value and longest concentrated brine interval reported to date on the Rincon West project,” Argentina Lithium & Energy vice president of exploration Miles Rideout said in a statement.
“This rich brine zone remains open to the north, clearly demonstrating the requirement to expand drilling in this direction in a future campaign,” he added.
Argentina Lithium & Energy CEO Nikolaos Cacos said its drill contractor is scheduled to begin drilling five holes on the adjacent Rinconcita II block shortly, which should wrap up near the end of this year, with the company then shifting its exploration focus to its third property in the Rincon Salar, the Paso de Sico block further north.
“Recent developments have shown the Rincon Salar to be one of the standout basins in the Lithium Triangle, with two neighboring projects now entering production,” Cacos stated.
The Rincon West project is located west and north of Rio Tinto's adjacent Rincon Project, and covers 3742.8 hectares of the salar basin, according to the company.
Argentina Lithium focuses on acquiring high-quality lithium projects in Argentina and advancing them toward production.
Contact Sean at sean@proactiveinvestors.com