Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQB:PNXLF) has announced positive lithium brine values from the third and fourth diamond drill holes at its Rincon West project in Salta Province, Argentina.
A fifth exploration hole is currently in the final stages of completion, the company said.
"The fourth exploration hole has produced our best results to date. Lithium brines start at 38 meters depth, but the exciting result is the interval from 95 meters to 227 meters, with lithium values ranging from 334 to 382 mg/litre over a continuous 132-meter interval,” Miles Rideout, the company's VP of exploration, said in a statement.
“The third hole, located in the southern portion of the property, produced lower grade brines at the bottom of the hole. Though the lithium potential appears to decrease in the southern portion of the basin, it is notable that we still produce lithium brines while stepping out 1.8 kilometers south from our previous drilling,” he added.
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Drilling was carried out by Salta-based AGV Falcon Drilling SRL, under the supervision of Argentina Lithium's geologists, the company said.
RW-DDH-003, the southernmost hole planned for the program, was drilled between July 26 and August 22, stopping at a depth of 353 meters (m) in igneous rock units. Lining of the hole with 2-inch diameter PVC filters and tubing was completed on August 23, 2022.
RW-DDH-004 was drilled between August 26 and September 21, stopping at 254m depth in igneous basement rock units. Final sampling, lining of the hole and tubing were completed by September 22, 2022.
All core samples have been retained for logging and for subsequent laboratory evaluation, while brine samples were submitted to Alex Stewart International Argentina S.A. for analysis.
“We have more drilling to do, to fully delineate our brine aquifer, particularly in the west and north," Rideout added.
Argentina Lithium & Energy 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.
Its Rincon West project now totals 3,742.8 hectares of the salar basin, located west and north of the adjacent Rincon project owned by Rio Tinto. The property is currently permitted for up to nine exploration drill holes.
The company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
Contact the author at jon.hopkins@proactiveinvestors.com