Recharge Resources Ltd C.RR

RR On Track for the Much Anticipated NI 43-101

[MarketMakerss]

As countries move to ramp up EV uptake to meet global climate targets, lithium has quickly become a top commodity. With this, however, "lithium producers have warned that delays in mining permits, staff shortages and global inflation may cause difficulties in meeting the rapidly increasing demand for electric vehicle batteries"

(Source: https://www.mining-technology.com/news/lithium-supply-shortages-electric-vehicle-demand/)

Emerging as a high-potential contender in the industry following the delivery of 99.89% grade lithium carbonate, Recharge Resources (RR.c RECHF) recently revealed its plan to drill 3 additional holes at its Pocitos 1 Lithium Brine Project.

Awaiting its much-anticipated NI 43-101, RR has positioned the 3 additional holes to expand on the maiden resource, reclassifying the resource from the indicated and inferred category to measured and finally to the proven and probable category.

Notably, one of three wells will be drilled to a production diameter in preparation for the installation of 4-6 other production wells to allow up to 20,000 tonnes per year of lithium carbonate/lithium chloride to be produced from the proposed plant at the Project.

RR President and CEO, David Greenway, commented:

"Recharge Resources is looking forward to its upcoming NI 43-101 compliant maiden resource estimate with follow on drilling with an objective of increasing the size and confidence of the resource as well as preparing the project for the company’s ultimate goal of being production ready in preparation of the construction of an Ekosolve plant at the Pocitos 1 Project.”

Spanning 800 hectares, lithium values of 169 ppm have been recorded at RR's Pocitos 1 Project and RR is currently awaiting the completion of process engineering work to produce and assay the lithium carbonate being produced.

The recent delivery of 99.89% grade lithium carbonate from RR's Pocitos 1 Lithium Brine Project using the Ekosolve lithium carbonate production system is a major milestone for the project as it far exceeds the purity requirement for battery grade lithium and is the quality for pharmaceutical grade.

For more information, refer to the latest news release: https://recharge-resources.com/news/recharge-production-well-and-resource-expansion-well-drilling-plan-at-the-pocitos-1-lithium-brine-project/

Posted on behalf of Recharge Resources Ltd.