VANCOUVER, BC, Jan. 29, 2025 /PRNewswire/ - Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTCQB: LILIF), ("Argentina Lithium" or the "Company") reports positive results from the fourteenth exploration well at its Rincon West Project in Salta Province, Argentina. Sixteen representative 2.5 or 3 m brine samples collected over a 225-metre interval of RW-DDH-14 ranged from 277 to 379 mg/l lithium.
Argentina Lithium & Energy Logo (CNW Group/Argentina Lithium & Energy Corp.)
"The fourteen exploration wells drilled at Rincon West have validated our belief that the property has competitive grade potential. All drill holes have demonstrated mid-grade brines, validating our interpretation of the conductive formations identified during geophysical targeting." stated Miles Rideout, V.P. of Exploration. "Our team is currently working on the resource model for the initial exploration area, located on the west side of the Rincon salt flat adjacent to Rio Tinto's Rincon Project. This resource work incorporates results from pump tests currently being completed on the project's initial rotary well. Additional rotary wells are planned for the project, subject to permit approval. The provincial ministry is currently reviewing the drill permit application for the eastern Don Fermin block, which has had no previous drilling but has extensive geophysical responses suggesting subsurface conductive targets are present."
The results, including sampling method, sample interval data, and brine analyses for RW-DDH-14 are shown in Table 1. Drill collar information is presented in Table 2. An extensive selection of core samples has been sent to an independent laboratory for brine recovery testing.
The Rincon West Project covers 5198.8 hectares of the salar basin, consisting of three property blocks adjacent to Rio Tinto's Rincon Project. Drill hole RW-DDH-14 represents the fifth exploration hole of the 6-hole program planned for the Rinconcita II property, originally announced in the Company's October 19, 2023 News Release. The Company is currently completing a long-duration pump test at the sixth hole (RW-RT-01), a deep rotary well drilled beside RW-DDH-11.
Table 1: Interval data and results of brine analyses for lithium, potassium, and magnesium for drill hole RW-DDH-14*
Sample interval (m)
Sample Method
Li
K
Mg
Density
From
To
Thickness
(mg/litre)
(g/ml)
24.5
27.5
3.0
Single packer
288
5695
2643
1.195
36.5
39.5
3.0
Single packer
294
5716
2797
1.19
30.5
33.5
3.0
Double packer
289
5641
2711
1.189
42.5
45
2.5
Single packer
277
5403
2695
1.186
48.5
51.5
3.0
Single packer
285
5548
2725
1.187
66.5
69.5
3.0
Single packer
355
6836
3186
1.215
54.5
57.5
3.0
Double packer
353
6777
3207
1.215
72.5
75.5
3.0
Single packer
357
6881
3207
1.216
84.5
87.5
3.0
Single packer
363
7013
3302
1.216
114.5
117.5
3.0
Single packer
379
7548
3178
1.219
120.5
123.5
3.0
Single packer
377
7521
3166
1.22
132.5
135.5
3.0
Single packer
371
7444
3131
1.22
138.5
141.5
3.0
Single packer
362
7282
3135
1.219
144.5
147.5
3.0
Single packer
357
7146
3145
1.22
240.5
243.5
3.0
Single packer
335
6833
2850
1.218
246.5
249.5
3.0
Single packer
364
7419
3047
1.217
340.0
380.0
40.0
Single packer
177
3644
1100
1.176
*The drill hole was inclined vertically; the brine hosting strata are believed to be flat lying resulting in reported intervals approximating true thickness.
Drilling Methodology
RW-DDH-14 was executed with HQ-diameter diamond drilling, permitting the extraction of core samples of the salar basin formations and the recovery of brine samples where possible.
Drilling was carried out by Salta-based AGV Falcon Drilling SRL, under the supervision of Argentina Lithium's geologists.
Table 3: Collar and maximum depth information for RW-DDH-14
Hole ID
East
North
Elevation
Azimuth
Dip
Depth
UTM Zone 19S (WGS84)
(m)
(deg.)
(deg.)
(m)
RW-DDH-14
685248
7337015
3726
n/a
90
455.0
The Company's preferred method for brine sampling deploys a 'single packer' sampling unit during drilling. The packer sampling method allows the recovery of brine samples at specific depths while sealing the hole at the top and bottom of the interval. For single packer sampling, an inflatable seal closes the top of the interval; the lower limit of drilling represents the bottom of the interval. In certain instances, double packer sampling is conducted following the completion of drilling. In this case, inflatable seals are employed to close both the top and bottom of the sample interval. While the geologists can vary the interval length when using single packer sampling, the double packer system is limited to testing 3 m intervals.
Geophysical profiling and lining the hole with 2" diameter PVC filters have been completed. All core samples recovered in drilling were retained for geologic logging.
Observations regarding RW-DDH-14
RW-DDH-14 is located on the eastern-central portion of the Rinconcita II property, within the western salt flat at Rincon Salar.
A total of 17 brine samples were extracted using the single or double packer methods and were submitted for chemical analysis. Sampling was generally accomplished from 3 m intervals, though one 2.5 m interval and one 40 m interval were sampled. Brine samples collected between 24.5 m depth and 249.5 m depth ranged from 277 to 379 mg/l lithium. Over this 225 m interval, 16 single or double packer brine samples were collected totalling 47.5 m of sampling, representing 21.1% of the entire interval.
Drilling from surface to 15.5 m depth intersected fine sandy sediments. Medium sandy layers are interlayered with sandy breccias between 15.5 and 71 m depths. Sandy breccias then dominate to 137 m depth. Relatively loose gravel and sands were intersected between 137 m and 144.7 m. Crystaline halite (salt) was drilled between 144.7 and 208 m. Sandy sediments containing several clayey layers were logged between 208 m and 245 m. Breccia sedimentary units were drilled between 245 and 349 m, frequently exhibiting alteration. Ignimbritic breccia and fractured ignimbrite were logged between 349 and 372.5 m whereupon a tricone was required to advance to 375.5, thus 3 m of core was not recovered. Ignimbritic breccia and fractured ignimbrite then continued to 404.4 m. Breccia with traces of pyrite was drilled between 404.4 and 437.25 m. Ignimbritic breccia was then intersected, extending to the bottom of the hole at 455 m. The sandy units described in this exploration hole are expected to be the most productive levels for extracting lithium brine.
Analyses and QA/QC
Samples of brine were submitted for analysis to Alex Stewart International Argentina S.A. ("Alex Stewart"), the local subsidiary of Alex Stewart International, an ISO 9001:2017 certified laboratory, with ISO 17025:2017 certification for the analysis of lithium, potassium and other elements. Alex Stewart employed Inductively Coupled Plasma Optical Emission Spectrometry ("ICP-OES") as the analytical technique for the primary constituents of interest, including boron, calcium, potassium, lithium, and magnesium. Measurements in the field included pH, electrical conductivity, temperature and density.
The quality of sample analytical results was controlled and assessed with a protocol of blank, duplicate and reference standard samples included within the sample sequence. For hole RW-DDH-14 the lot contained one blank and one duplicate sample, which reported within the acceptable range. Single low-grade, medium-grade and high-grade reference standard samples (3 standards in total) were included within the submitted sample suite. The low-grade reference standard analysed higher than 3 standard deviations ("SD") of best value, with 10.4 relative percent difference ("RPD"); the medium-grade reference standard analysed below 3 SD of best value, with 1.3 RPD; the high-grade reference standard analysed below 3 SD of the best value with 2.3 RPD.
Qualified Person
Frits Reidel, CPG is a Qualified Person as defined in National Instrument 43-101, is the Principal of Atacama Water Consultants, and is independent of Argentina Lithium. Mr. Reidel has reviewed the work carried out by the Company's exploration team at the early-stage Rincon West property. The disclosure in this news release has been reviewed and approved by Mr. Reidel.
About Argentina Lithium
Argentina Lithium & Energy Corp 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 Company's strategic investment by Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V., one of the world's leading automakers, places Argentina Lithium in a unique position to explore, develop and advance its four key projects covering over 70,000 hectares in the Lithium Triangle of Argentina. Management has a long history of success in the resource sector of Argentina and has assembled some of the most prospective lithium properties in the world renowned "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
