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Argosy Minerals Ltd.
Summary
| Project: | Rincon | |
|---|---|---|
| Deposit: | Rincon | |
| Location: | Argentina | |
| Commodities: | Lithium | |
| Date: | 6/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-6-2018: Argosy Minerals Ltd. announces a Resource Estimation report for its Rincon deposit at the Rincon project. Initial mineral resource estimate for Rincon Lithium project. Argosy Minerals Limited (ASX: AGY) (“Argosy” or “Company”) is pleased to ann | |
| Resources: | (Resource, Inf.): 208kt LCE contained in brine at project | |
| CP/QP: | [Resources]: Duncan Storey (AQ2 Pty Ltd.) | |
| ABSTRACT: | Argosy Minerals Limited (ASX: AGY) (“Argosy” or “Company”) is pleased to announce the maiden JORC Code (2012) compliant Mineral Resource estimate for its Rincon Lithium Project, located in Salta Province, Argentina. The Mineral Resource estimate indicates 207,957 tonnes of contained lithium carbonate equivalent (LCE) product is estimated to occur within the brine aquifer(s) from the Company’s Rincon Lithium Project. Argosy Managing Director, Jerko Zuvela said “We are very pleased to deliver a JORC Maiden Resource estimate resulting in an approximate 208,000 tonnes of LCE Product within the Project area. We are very confident the Resource estimate will support our Project production targets that we expect to report within our Preliminary Economic Assessment, and together with additional drilling works will also enable future upgrades to the maiden JORC Mineral Resource. The Resource estimate further validates the Company’s fast-track development strategy to fully develop the Rincon Lithium Project toward commercial production. We are committed to building a sustainable lithium production Company.” The Company has drilled eight brine-exploration bores (R1 to R8) to depths of up to 102.5m in the south east of the Salar Del Rincon. The bores have an average spacing 2.1km (ranging between 1km and 3km). The bores have delineated an aquifer containing hypersaline brine with TDS ranging between 310,000 mg/L and 350,000 mg/L; the brine is enriched with respect to lithium. Weighted mean average lithium concentrations range between 324 mg/L and 369 mg/L, with a maximum recorded concentration of 490 mg/L. | |
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