Argentina Lithium Poised for Resource Calculation, CEO Says

Argentina Lithium and Energy (TSXV:LIT,OTCQB:PNXLF,FWB:OAY3) is now looking towards a resource calculation as the company continues to achieve good drill results at its flagship Rincon West project in Argentina, according to CEO Nikolaos Cacos.

“If we continue to get the kinds of results that we've gotten so far, I think the next stage for us is immediately to move towards a resource calculation, which would probably get published in the first quarter of 2023,” Cacos said.

The Rincon West property is currently permitted for up to nine exploration drill holes, and Argentina Lithium has reported positive lithium brine values from the second diamond drill hole, demonstrating remarkably consistent lithium grades.

“We've been very fortunate to have acquired the project and we've begun drilling there. We announced earlier this year that we've discovered lithium presence there and over some significant intersections at the same grades as both our neighbors Rio Tinto (ASX:RIO) and Argosy (ASX:AGY) have,” Cacos said.

Following the planned resource calculation, Cacos said his company will be looking for potential partners with direct lithium extraction (DLE) companies to gain access to the technology. DLE is an environmentally safe and low-cost lithium extraction process compared to traditional methods.

“We would either be looking to partner up with another major lithium producer, or one of the other two companies that are currently there,” Cacos said. "It's a decision to be made at that time."

Argentina Lithium recently closed the acquisition of the Rinconcita II mining concession area located on the Salar de Rincon in Salta Province Argentina from provincially owned company Recursos Energéticos y Mineros Salta.

Watch the full interview with Argentina Lithium CEO Nikolaos Cacos above.

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