Recharge Resources Adopts ESG Policy Ahead Of Ni 43-101 Resource Estimate

December 13, 2023
3080

Recharge Resources Ltd.

RR:CSE | RECHF:OTC | SL50:Frankfurt
by James Hyland, MiningIR

Recharge Resources Ltd. (“Recharge” or the “Company”) (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) is pleased to announce that the Company has adopted a formal Environmental Social Governance (“ESG”) Policy ahead of its highly anticipated NI 43-101 maiden resource estimate at the Pocitos One Lithium Brine Project (“Pocitos 1” or “the Project”) located near Pocitos township in Salta Province, Argentina.

The Company previously announced it had executed a technology licence agreement for countrywide use of Ekosolve™️ Lithium Solvent Extraction (“Ekosolve™️”) equipment to build a lithium plant capable of producing up to 20,000 tonnes of lithium carbonate annually at the Pocitos 1 Lithium Project in Salta, Argentina.  

Ekosolve™️ process can efficiently manage the processing of the brines to produce lithium chloride or lithium carbonate with a grade higher than 99.5% and a recovery of more than 95%, far exceeding any published Direct Lithium Extraction method available to date.

The key advantage of the Ekosolve™️ system is the high rate of lithium yield targeting 95%+. Critically, operating costs are reduced by more than 90% as more than 98.5% of the solvent is reclaimed after each cycle. The solvents are biodegradable. Other DLE systems such as adsorption may achieve 72-80% yield, fractional crystallization of 50-70%, and ion exchange up to 80% with requirements of high lithium concentrations and neutral pH. In adsorption and ion exchange systems, extra processes may be required to manage the magnesium and boron in the brines whereas this is not an issue with the Ekosolve™️ process.

For Recharge Resources, the expected capital expenditure and operational costs are projected to be significantly lower. A key advantage of this approach is that it eliminates the need for evaporation ponds, resulting in a more environmentally friendly solution.

The agreement contemplates the development of a multi-phase build out to 20,000 tonne per year output of lithium carbonate at the Pocitos 1 Lithium Brine Project. Upon commencement of production at the Pocitos 1 Project, a licence fee equal to 5% of delivered product will be due to Ekosolve™️. Further scoping studies and permitting will be required to begin construction of the plant.  Preliminary planning has commenced with water and quarry permits for earthworks being prepared.

David Greenway, CEO of Recharge, stated, “Recharge aspires to become a leader in the battery minerals industry to support the transition to a carbon-free economy, while growing shareholder value through the sustainable development and operation of our assets.”

David Greenway, CEO of Recharge Resources

The ESG policy extends beyond just the corporate offices and project sites; it also encompasses all existing and future operational locations throughout their entire lifecycle. This ensures a comprehensive approach to environmental, social, and governance aspects in all areas of operation.

” As we embark on our journey at the Pocitos Lithium Brine Project we look to embed our new ESG policy into every corporate, development and operational aspect of our business throughout their lifecycles, we do so believe that this approach will maximise the benefits our organisation delivers to all stakeholders for the long term.” Recharge’s Greenway said.

David Greenway, CEO of Recharge Resources

The Company expects all business partners to adhere to the policy and will work with them to achieve compliance. More about the Company’s newly adopted ESG policy will be uploaded to the company’s website.

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.

Figure 1. Pocitos Lithium Claim Map

Qualified Person

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.

Mr. Thomas has joined the Company in the capacity of COO on 21 November 2023. He is a shareholder and Officer. 

RSU Issuance

Recharge announces it has granted 1,800,000 restricted share units (“RSUs”) to consultants of the Company.  The RSUs are valid for a term of one year and under the terms of the Company’s restricted share unit plan (the “RSU Plan”).

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.

All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedInTwitterFacebook and Instagram.

On Behalf of the Board of Directors

“David Greenway”

David Greenway, CEO

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MiningIR hosts a variety of articles from a range of sources. Our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.
James Hyland, MiningIR
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