Argosy Minerals has confirmed production of 99.6 per cent purity lithium carbonate equivalent (LCE) from the Stage 1 plant at its Rincon lithium project in Argentina.
The company announced that it has completed plant works to the extent that it has now efficiently production 30kg of product to battery grade specification. Argosy currently holds a 77.5 per cent interest in the Rincon project.
It is a significant milestone for the company — the announcement saw Argosy’s shares rise by 34 per cent from 18 cents per share to 26 cents per share. Argosy revealed its maiden JORC estimate in June, which included inferred resources of 207,957t of LCE.
The Rincon projects is located in the Salta province in Argentina, which lies within South America’s famous ‘lithium triangle’, a large area overlapping the borders of Bolivia, Argentina and Chile that hosts over half of the world’s known lithium.
Argosy managing director Jerko Zuvela (a presenter at this year’s Diggers and Dealers forum) said, “We are delighted at this significant milestone — to achieve such a result from our Stage 1 500t/y capacity plant is a remarkable success.
“We believe our chemical process pathway is efficient and scalable, and the success being announced today bodes well for the continued development of stages 2 and 3 at the Rincon lithium project.”