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Argentina Lithium Strengthens Lithium Play as Drilling Continues at Argentina Asset
“We're proving our hypothesis that the lithium brines do extend under our properties," said Argentina Lithium & Energy CEO Nikolaos Cacos.
Argentina Lithium & Energy (TSXV:LIT,OTCQB:PNXLF,FWB:OAY3) has completed six diamond drill holes at its Rincon West project in Argentina's Salta province, and drilling continues while the company expects the first resource calculation by the second quarter of 2023, according to CEO Nikolaos Cacos.
The company recently reported positive lithium brine values at its Rincon West project, including a 153 meter interval ranging from 329 to 393 milligrams per liter lithium from the sixth diamond drill hole. The seventh exploration hole is in the final steps to completion, with two additional holes planned.
“All six of those holes bear lithium. And the grades and intercepts of these holes are exactly what has been in line with what has been published with both Argosy Minerals (ASX:AGY) and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO). So it's very exciting. We're proving our hypothesis that the lithium brines do extend under our properties,” Cacos said.
The sixth hole, RW-DDH-006, is a step out of 960 meters from the prior best intersection reported previously in the fourth hole. The large step outs demonstrate that concentrated lithium brines extend broadly through the core of the property, the chief executive said.
“We're building up tons of lithium. As we're building that up, the market has a knack for instantly reflecting these drill results … This is the time when you're going to get that big exploration swinging your portfolio. It's riskier, but it's also the most exciting time.”
Drilling at Rincon West will continue, according to Cacos, as the company plans to release drill results each month. “As we engage by the end of the second quarter, when we put our first resource calculation, (we) will begin to attract institutional investors. And I think that could be a real inflection point for a company in a positive way.”
Watch the full interview with Argentina Lithium & Energy CEO Nikolaos Cacos above.
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