Recharge Resources Ltd. provide the following update on the company’s Pocitos One Lithium Brine Project (“Pocitos 1” or “the project”) in Salta, Argentina.
Detailed logging of the core of the two wells drilled in 2018 – PCT 2018-1 to 360m and PCT 2018-02 to 407m have been relogged by Company Geologist and data of the 10 packer tests and 7 assays received from the drillers logs in 2018 have been provided to WSP Australia Pty Ltd (“WSP”) who are completing the resource estimate. WSP commenced the resource estimate in July 2023 and had been awaiting additional analysis needed from the 2018 data which has now been provided. Additional core data on the porosity and permeability of the core was obtained from specialists in Australia which was also provided to WSP. This work has been very detailed but is now complete.
WSP is a leading global consultancy with more than 67,000 professionals and consultants with expertise in hydrology and brine resource estimates. WSP will utilize information gathered from the NI 43-101 technical report dated 30 June 2023 completed by Panopus Pte Ltd and the May 2023 MT Survey, 2018 TEM survey, drilling programs, core logs and core porosity data to prepare the Resource Estimate.
David Greenway, President, and CEO commented, “I am delighted the WSP Global project engineers are building a resource model for the NI 43-101 update resource estimate. The Company is pushing forward on all fronts with our inaugural NI 43-101, MT geophysics survey, and porosity studies completed and a pending drill program, and a planned upcoming NI 43-101 resource estimate. These developments should make for an exciting next period for Recharge and its stakeholders at the Pocitos Project.”
2018 and 2022 Drilling Success
Recharge completed drilling the third hole at the Pocitos 1 lithium brine project achieving 169ppm lithium assay and is currently awaiting permits for its upcoming 3 well 2023 drill program.
As reported on January 31st, 2023 Five litres of brine were collected to be sent to University of Melbourne for testing to ascertain the recovery that has been as high as 96% using the EkoSolve™ processing system and 99.89% purity of the lithium carbonate. These brines were specially prepared for transit to Australia.
The full Report dated June 30, 2023, and entitled “Technical Report For The Pocitos Salar Lithium Concession, Salta Province, Argentina”, can be found on the Company’s website and on SEDAR under the Company’s issuer profile at www.sedarplus.ca.
Ekosolve Lithium Carbonate Production Developments
Ekosolve and the University of Melbourne continue to improve the recovery of lithium from the Company’s brines. The recent mass transfer performance experiments using simulated brine (with the same composition as the Pocitos brines) in the 2-meter-high pulsed Ekosolve process column delivered improved results, (the previous results were 94.92% extraction of lithium) including:
- a great improvement in lithium extraction efficiency by increasing the operating O/A ratio;
- very fast lithium extraction kinetics of simulated brine and loaded organic solvent;
- limited co-extraction of impurities from the simulated brine and potential in further improving the lithium extraction efficiency by constructing a column array with a longer active section or multiple columns connected in series.
About Pocitos Lithium Brine Project
The Pocitos 1 Project is located approximately 10km from the township of Pocitos where there is gas, electricity, and accommodation. Pocitos 1 is approximately 800 hectares and is accessible by road. Collective exploration totals over US$2.0 million developing the project, including surface sampling, trenching, TEM and MT geophysics and drilling three wells that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration.
Lithium values of 169 ppm from drill hole 3 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project’s December 2022 drill campaigns. A double packer sampling system in HQ Diamond drill holes were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours. All holes had exceptional brine flow rates. A NI 43-101 report has been released on the Pocitos 1 project.
Recharge is awaiting the completion of the process engineering work to be completed by Ekosolve Ltd to produce and assay the lithium carbonate being produced, where extraction was above 94% of the contained lithium in the brine i.e. 158.86ppm of lithium would have been recovered from 169ppm.
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein.
Marketing Awareness Agreement
The Company is also please to announce that it has entered into a consulting services agreement with Tim Collins (firstname.lastname@example.org) of Streetlight Equity, address 16801 Poppy Mallow Drive, Austin, Texas 78738.
Ph. 512-576-3038. Under the terms of agreement, Mr. Collins will assist the Company with market awareness, marketing, on-line content and design, and related investor awareness services for a period of twelve months. Under the terms of the agreement Mr. Collins will receive compensation consisting of U$25,000 and 700,000 RSUs, granted pursuant to the Company’s Restricted Share Unit Plan, for the provision of the services.
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors
David Greenway, CEO