Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQB:PNXLF) has revealed the commencement of exploration drilling at its Rincon West lithium project in Salta Province, Argentina.
The Vancouver-based junior said five exploration holes are initially planned to test multiple prospective brine targets identified from the geophysical survey data. The drill program is expected to take four months to complete.
The Rincon West project covers 2,470 hectares of the salar basin, located west of the adjacent Rincon project owned by Anglo-Australian mining giant 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. Argentina Lithium said 2,000-metres of diamond drilling is budgeted for the 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,” Miles Rideout, VP of Exploration at Argentina Lithium, said in a statement.
“The initial exploration holes have been located on the geophysics traverses 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," he added.
The drilling contract has been awarded to AGV Falcon SRL, an experienced drilling contractor with offices in Salta Province. Brine samples will be analyzed by Alex Stewart Assayers Argentina SA. The company said 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.
The company is focused on acquiring high-quality lithium projects in Argentina and advancing them towards production to meet the growing global demand from the battery sector.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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