Argosy Minerals Limited (ASX:AGY) has received formal regulatory approval to construct the remaining stage II lithium evaporation ponds at its Rincon Lithium Project in Argentina’s Lithium Triangle.
READ: Argosy Minerals increases its stake in the Rincon Lithium Project
Argosy managing director Jerko Zuvela said: “Argosy continues its rapid progress and aggressive development strategy toward becoming an LCE producer in the near-term and conducting the remaining stage II evaporation ponds work now shows the company’s commitment to scaling the project to the next stage and providing battery grade LCE product into the insatiable demand in the market place.”
Targeting 34 hectares of stage II lithium brine evaporation ponds
The regulatory approval allows Argosy to fast-track the progress of its stage II development works program.
The company will now commence preparation to conduct the pond construction works – comprising an additional eight evaporation ponds to complement the nine ponds already in operation.
Following construction of the additional ponds, a combined total of about 34 hectares of completed stage II lithium brine evaporation ponds are expected to be operable.
Clear conceptual pathway to lithium production
Argosy’s stage I evaporation ponds have been concentrating lithium brine since April 2017 and are at a suitable lithium concentration level to provide the first feedstock for stage I plant initial operations.
Moreover, the company’s recent drilling revealed better than expected lithium content over thicker brine-bearing zones at the Rincon project.
READ: Argosy Minerals drilling delivers better than expected lithium grades
The drilling has also confirmed a thick sequence of black sand in the project area, which is positive for future brine extraction requirements.
A further positive outcome of the drilling is better average magnesium/lithium (MG/LI) ratios than historical reference data.