Recharge Resources Ltd C.RR

Meeting the Global Demand For Lithium

[MarketMakerss]

"The full additional supply we will need to meet lithium demand is currently 46% higher than we could supply"

With 350 million EVs expected to be sold globally by 2030, meeting the demand for lithium to power them is expected to be a global challenge. This has created a robust market dependent on advances in lithium extraction technology and new sources to come online. (Source: https://www.visualcapitalist.com/sp/tomorrows-lithium-demands/)

Focused on resource expansion, confidence and production readiness, Recharge Resources (RR.c RECHF) has emerged as a contender in this industry having provided an update on its drilling plans at the Pocitos 1 Lithium Brine Project, outlining the plan to drill 3 additional holes.

Awaiting its much-anticipated NI 43-101, RR has positioned the additional holes to expand on the maiden resource and to reclassify the resource from the indicated and inferred category to the measured category and then, with Ekosolve's engineering data, then to the proven and probable category.

This is a major milestone from the Pocitos 1 Project, achieving 99.89% purity on the first wash and 99.99% purity lithium carbonate. Notably, this far exceeds the purity requirement for battery-grade lithium and is the quality for pharmaceutical grade. 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 and RR is currently awaiting completion of process engineering work to produce and assay the lithium carbonate being produced where extraction was above 94% of the contained lithium in the brine.

This news follows the recent delivery of 99.89% grade lithium carbonate from RR's Pocitos 1 Lithium Brine Project using the Ekosolve lithium carbonate production system.

This is a major milestone from the Pocitos 1 Project, achieving 99.89% purity on the first wash and 99.99% purity lithium carbonate. Notably, this 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.