Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQB:PNXLF) has announced the completion of the first exploration diamond drill hole at its Rincon West project in Argentina, while also reporting what it called “positive” lithium analyses from brine samples collected over a 70 metre (m) thick permeable interval with lithium grades ranging from 225 to 380 milligrams (mg) per litre.
The lithium projects developer said five exploration holes are initially planned to test prospective brine targets identified with geophysics.
“The first hole at Rincon West has revealed a permeable 70 metre interval with moderate to high-grade lithium values. This validates our belief that the concentrated lithium brines mapped in the adjacent resources does extend beneath our property,” Argentina Lithium & Energy vice president of exploration Miles Rideout said in a statement.
READ: Argentina Lithium kicks off exploration drilling at Rincon West project in Argentina
“We are continuing our exploration drilling to delineate this mineralization with the aim of defining a mineral resource," Rideout added.
Argentina Lithium noted drill collar information presents a map of the Rincon West property showing the positions of RW-DDH-001 and the subsequent drill hole in progress, and seven additional prospective locations for future exploration drilling.
The Rincon West project covers 2,470 hectares of the salar basin, located west of the adjacent Rincon project owned by Rio Tinto, and Argentina Lithium has an option to earn a 100% interest in the project, according to the company.
Argentina Lithium 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 team of experts to acquire and advance the best lithium properties in the Lithium Triangle.
Contact Sean at sean@proactiveinvestors.com