Recharge Resources Ltd. announce that it has completed its environmental impact assessment report. This will greatly assist the company in renewing its tenements for the further development of the company’s Pocitos One Lithium Brine Project (“Pocitos 1” or “the project”) in Salta, Argentina. It is also a baseline study that will be used to provide data to the Mining Department in Salta.
The report is titled “Environmental and Social Baseline report for the Pocitos 1 and 2 concession on the Pocitos Salt Flats”. The report was the culmination of four months work by E & C Asociados – a specialist environmental consulting group.
The key findings of the report covered topics and relevant baseline values for :
- Geology and Geomorphology
- Climate
- Flora
- Fauna
- Protected areas
- Socio-economic environment
- Solar panel use
- Availability of fresh water
“I am delighted that we have completed this report as it is another milestone on our journey to commence lithium carbonate production. A further report to update values will be made in six months time after we have completed drilling production wells on the property and completed a measured and indicated Mineral Resource Estimate. The Company is entering an exciting period for Recharge and its stakeholders at the Pocitos Project.”
David Greenway, President, and CEO
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.
Ekosolve Ltd was able to produce 99.8% purity lithium carbonate, where extraction was above 94% of the contained lithium in the brine i.e. 158.86ppm of lithium would have been recovered from 169ppm.
WSP Australia has completed an update of the NI 43-101 report completed by QP Phillip Thomas in June 2023 and estimated on an inferred basis using a block model and 6% and 14% porosity’s for the clay and sand lithologies 760,000 tonnes of LCE.
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 7 November 2023. He is a shareholder and Officer.
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”
David Greenway, CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
