RR Announces Impressive Lithium Resource Estimate Today, Recharge Resources Ltd. (RR.c RECHF) unveiled an Inferred Mineral Resource Estimate for its Pocitos Lithium Brine Project located in Salta Province, Argentina. The Inferred Mineral MRE has been calculated at 143,000 tonnes of lithium metal, translating to an impressive 760,000 tonnes of lithium carbonate equivalent. This estimate supports a robust 38-year mine life at a 100% recovery assumption, reinforcing the project's viability.
The technical report, authored by WSP Australia Pty Ltd., applied a 100 ppm lithium cut-off grade, yielding 78,000 tonnes of lithium metal or 414,000 tonnes of LCE, supporting a 20-year mine life. The report, utilizing a Li2CO3 price of USD $16,573/tonne as of December 4, 2023, projects an annual revenue of USD $338 million.
Phillip Thomas, the Company’s QP, COO, and Director, recently visited Shanghai, China, meeting with Richlink Capital Pty Ltd. and inspecting a lithium chloride and lithium n-butyl plant. The company aims to supply up to 20,000 tonnes of lithium carbonate per year to Richlink clients, as per a previously announced letter of intent.
The Pocitos Lithium Brine Project, situated approximately 10 km from Pocitos township, has undergone extensive exploration, totaling over USD $2 million, including surface sampling, trenching, TEM, MT geophysics, and drilling three wells with outstanding brine flow results. Lithium values of 169 ppm were recorded during the December 2022 drill campaigns, demonstrating exceptional brine flow rates.
Ekosolve™, the company's strategic partner, produced lithium carbonate at 99.89% purity, with lithium extraction from brines exceeding 94%.
Full press release here: https://recharge-resources.com/news/pocitos-lithium-ni-43-101-inferred-mineral-resource-estimated-at-143000-tonnes-lithium-metal-760000-tonnes-lithium-carbonate-equivalent/
Posted on behalf of Recharge Resources Ltd.