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VANCOUVER, British Columbia, Nov. 20, 2023 /PRNewswire/ — Argentina Lithium
Miles Rideout, the company’s vice president of exploration, said: “Our field work in 2023 focused on drilling at Rincón Oeste and was incredibly successful in identifying lithium-rich brines and advancing the task. At the same time , we have assembled the giant Antofalla Norte asset complex adjacent to and north of Albemarle Corp’s lithium allocation and now that we are funded, we will be as competitive as we can in advancing the allocation along Rincón Oeste. Although Antofalla Norte is not is drilled, our previous CSAMT geophysics shows conductive assemblages in a horizontal stratification, extending to about 500 m depth. Based on those effects and the old prospective effects reported in other parts of the salar, we hope to delineate some other primary source of lithium “in the brines of Antofalla. Our complex of houses in Antofalla is more than twice the length of Rincón Oeste, and successful exploration here would be a great advance. “
[Argentina Lithium cautions that proximity to a discovery, mineral resource or mining operation does not imply that mineralization will occur on the Company’s property and, if it occurs, that it will occur in sufficient quantity or grade to result in an economic extraction scenario. ]
The Company has also expanded its exploration program plans for its Pocitos and Incahuasi pipeline projects. These are at an initial level and are sometimes complex after the work in the Rincón and Antoflala salt flats. However, once the concessions and investment have been secured, the company is in the process of mobilizing a geophysics team in the Salar de Pocitos to start a reconnaissance program of 170 km of TEM (Transient Electromagnetic) soundlines on the 26,221 hectares of properties. This program in Pocitos represents an increase of approximately 40% over previous plans.
Nikolaos Cacos, CEO of Argentina Lithium, said: “We expect 2024 to be a transformational year for the company, one in which we can make significant progress towards resource delineation at our two main projects. it has secured investments for all planned exploration activities, up to the tune of fifteen million (US$) next year if we bring all our plans to light. In fact, Stellantis’ financing is expected to take us through exploration drilling to the prospective resource definition and initial technical study stages at Rincon Oeste and Antofalla Norte, which will allow us to create pricing with minimal dilution for our investors.
Program Highlights
West Corner Project
Following the successful finishing touch of a 9-well drilling program at the Villanoveño II assets earlier this year, the Company has commenced a new 5-well (~1,700 m total) exploration drilling program at the Rinconcita II assets, where the hollow momentum is already underway. Permits are pending for the third asset, Paso de Sico, and once received, the Company expects to execute a program of at least 6 drill holes (~2,100 m). The Company is confident in the permitting process, having completed programs and a new lease successfully secured for the Rincon West Rinconcita II assets as recently as this summer.
Following the drilling systems at the Rincon Oeste properties, a series of rotary wells will be completed and pumping tests will be conducted to provide high-quality porosity and permeability data to a mineral resource estimate. These paintings will require additional permits, which have been submitted. The exact number and timing of wells and tests will be decided based on the effects of the drilling systems.
Antofalla Norte Project
Argentina Lithium plans to complete 110 kilometers of TEM geophysical lines at the Antofalla Norte project covering approximately 16,620 hectares. This work will further map the basin and provide final targets for the drilling of the first six widely spaced reconnaissance wells totaling approximately 2,400 meters to verify the presence of lithium brines. With positive results, the Company now plans to continue these paints with up to 24 infill wells or approximately 7,200 m of drilling to fully verify the properties.
Argentina Lithium is lately waiting for the issuance of environmental permits to Antofalla that will allow the start of the works. The review process is advanced and the Company anticipates possible disruptions to its applications.
Pocitos and Incahuasi Projects
As noted above, the Company is lately mobilizing a geophysical team at the Salar de Pocitos to run 170 linear kilometers of TEM surveys, in order to map the subsurface of the houses to point to a long-term drilling program.
In 2024, the Company plans to stick to the geophysical charts of Pocitos with a study of its properties in the Salar Incahuasi. The planned programme has been extended by almost 20%, to reach 90 km of TEM lines covering the 25,582 hectares of the project.
Qualified Person
Frits Reidel, CPG is a qualified user within the National Instrument 43-101 and director of Atacama Water, and is independent of Argentina Lithium. The data contained in this press release has been reviewed and approved by Mr. Reidel.
About Argentinian lithium
Argentina Lithium
ON BEHALF OF THE COUNCIL
“Nikolaos Cacos”_____________________________Nikolaos Cacos, President, CEO and Director
www. argentinalitium. com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is found in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may include forward-looking statements. Forward-looking statements relate to long-term events and situations and involve inherent dangers and uncertainties. All statements, other than statements of past fact, that refer to activities, events or developments that the Company believes, expects or hopes will occur or are likely to occur in the long term, including, but not limited to, statements regarding the Company’s plans. Company for its mineral properties; the Company’s business strategy, plans and prospects; the Company’s long-term monetary or operational performance; and long-term exploration and progression plans are forward-looking statements.
Forward-looking statements are subject to a number of dangers and uncertainties that could cause the Company’s actual effects to differ materially from those discussed in the forward-looking statements and, even if such actual effects were known or substantially known, they could not possibly be It is guaranteed that they will have the expected consequences or effects on the Company. Factors that may also cause actual effects or events to differ materially from existing expectations include, but are not limited to: the effect of COVID-19; dangers and uncertainties related to the ability to obtain, modify or possess licenses, leases or surface rights; hazards related to technical difficulties related to mining activities; and the option that long-term exploration, progression or mining effects may not be consistent with the Company’s expectations. Actual effects would likely differ materially from those currently expected in such statements. Readers are encouraged to consult the Company’s public disclosure documents for a more detailed discussion of items that could possibly expect long-term effects. The Company undertakes no legal responsibility to publicly update or revise any forward-looking statements, except as required by applicable law. We advise US investors that SEC mining regulations strictly prohibit data of this type in documents filed with the SEC. American investors are cautioned that mineral deposits in adjacent homes are not representative of mineral deposits in our homes.
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SOURCE Argentina Lithium
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