Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQX:LILIF) announced the results of the first mineral resource estimate for the Rincon West lithium brine project in Argentina.
The lithium projects developer said the estimate showed a Measured & Indicated resource containing 0.15 km3 brine volume with an average grade of 296 milligrams (mg)/lithium, representing 238,000 tonnes Lithium Carbonate Equivalent (LCE), as well as an Inferred resource of 0.08 km3 brine volume with an average grade of 216 mg/lithium, representing 64,000 tonnes LCE.
"This initial resource marks a pivotal step in unlocking the full potential of Rincon West and reinforces Argentina Lithium's position at the center of one of the most strategic lithium districts in the world," Argentina Lithium & Energy CEO Nikolaos Cacos said in a statement.
“With Rio Tinto's world-class Rincon Project as our direct neighbour and a strong offtake partnership with Stellantis, we are uniquely positioned to advance Rincon West rapidly and responsibly.”
Argentina Lithium noted that the resource estimate was completed at the West Block properties (mining concessions Villanoveño II and Rinconcita II), totalling 2,931 hectares.
The company added that the resource estimate does not consider the Paso de Sico concessions in the northern part of the Rincon West project, which totals 3742.9 hectares of mining concessions at the Rincon Salar.
The resource was defined by 14 exploration boreholes totalling 4823.2 metres (m) of diamond drilling, and one production well of 470m of total length.