Argosy Minerals has revealed the maiden JORC 2012 mineral resource estimate for its Rincon lithium project in the Salta Province, Argentina, which includes inferred resources of 207,957 tonnes of lithium carbonate equivalent (LCE).
The weighted mean average of lithium concentrations range from 324 milligrams per litre (mg/L) and 369 mg/L with a maximum of 490 mg/L and yields varying from 1–13 per cent, depending on clay content.
Argosy drilled eight holes up to depths of 102.5m and an average spacing of just over 2km for the purposes of brine exploration in order to arrive at its results.ese results have exceeded company expectations and allows the project to move on to preliminary economic assessment and further drilling work. Key works required to produce a mine life estimate are “well progressed” according to a statement from Argosy, and the JORC estimate should go some way towards finalising this.
“The resource estimate further validates the company’s fast-track development strategy to fully develop the Rincon lithium project toward commercial production,” said Argosy managing director Jerko Zuvela. “We are committed to building a sustainable lithium production company.”
Argosy produced its first LCE batch from Stage 1 of the project in the first week of June,. Samples fell just short of battery grade quality which, according to Argosy, was due to the project lacking a requisite gas supply to power the required high-heat washing facilities necessary to cleanse samples of deleterious elements.