(TheNewswire)
Vancouver, BC – TheNewswire - December 6, 2023 - Recharge Resources Ltd.("Recharge" or the "Company") (CSE: RR )( OTC: RECHF) (Frankfurt: SL5 ) is pleased toprovide the following update on the Company’s Pocitos One LithiumBrine Project (“Pocitos 1”or “the Project”) located near Pocitostownship in Salta Province, Argentina.
WSP Australia Pty Ltd. ( “WSP” ) hasprovided a first draft to the Company of the inaugural NI 43-101compliant Mineral Resource Estimate ( “MRE ”) and iscurrently running an additional block model to support the finalreport. The report includes some of the cost estimates fromEkosolve™ for a 20,000-tonne lithium carbonate plant that isinclusive of a HCl acid plant and a Lithium carbonate plant. The finalreport is anticipated to be filed in short order. WSP is a leadingglobal consultancy with more than 67,000 professionals and consultantswith expertise in hydrology and brine resource estimates. WSP willutilize information gathered from the NI 43-101 technical report datedJune 30 th , 2023, completed by Panopus Pte Ltd and the May 2023 MTSurvey, 2018 TEM survey, drilling programs, core logs and coreporosity data to prepare the ResourceEstimate.
This is another milestone in the Company's endeavour tobuild up to a 20,000-tonne Ekosolve™ direct lithium extract ion ( “DLE” ) plant atthe Pocitos project in order to supply Richlink Capital Pty. Ltd.( “Richlink” ) up to 20,000 tonnes of lithium carbonate per year, aspreviously announced under a letter of intent of offtake.
David Greenway, President, and CEO commented, “I amdelighted the WSP project engineers are building a resource model forthe NI 43-101 update resource estimate and appreciate their diligencein this report. The Company is pushing forward on all fronts with ourinaugural NI 43-101, with MT geophysics survey and porosity studiescompleted, and a pending drill program to continue to build on thishighly anticipated report. These developments should make for anexciting next period for Recharge and its stakeholders at the PocitosProject.”
2018 and 2022 Drilling
Recharge completed drilling the third hole at thePocitos 1 lithium brine project achieving 169ppm lithium assay and iscurrently awaiting permits for its upcoming 3 well 2023 drillprogram.
As reported on January 31 st , 2023 , 200 litres of brine werecollected to be sent to University of Melbourne for testing toascertain the recovery that was 94.9% using the EkoSolve™ processingsystem and 99.89% purity of the lithium carbonate. These brines werespecially prepared for transit to Australia to maintain their contentintegrity.
The full NI 43-101 Report dated June 30 th , 2023, andentitled “Technical Report For The Pocitos Salar Lithium Concession,Salta Province, Argentina” , can befound on the Company’s website and on SEDAR+ under the Company’sissuer profile at www.sedarplus.ca .
Fig 1. Dec 2022 Drilling atPocitos 1 | Fig 2. 2018 Drilling at Pocitos1 | Fig 3. 2018 Drilling at Pocitos1 |
About Pocitos Lithium BrineProject
The Pocitos 1 Project is located approximately 10kmfrom the township of Pocitos where there is gas, electricity, andaccommodation. Pocitos 1 is approximately 800 hectares and isaccessible by road. Collective exploration totals over US$2.0 milliondeveloping the project, including surface sampling, trenching, TEM andMT geophysics and drilling three wells that had outstanding brine flowresults. Locations for immediate follow up drilling have already beendesigned and identified for upcoming exploration.
Lithium values of 169 ppm from drill hole 3 packer testassayed from laboratory analysis conducted by Alex Stewart wererecorded during the project’s December 2022 drill campaigns. Adouble packer sampling system in HQ Diamond drill holes were drilledto a depth of up to 409 metres. The flow of brine was observed tocontinue for more than five hours. All holes had exceptional brineflow rates. A NI 43-101 report has been released on the Pocitos 1project.
Recharge is awaiting the completion of the processengineering work to be completed by Ekosolve Ltd to produce and assaythe lithium carbonate being produced, where extraction was above 94%of the contained lithium in the brine i.e. 158.86ppm of lithium wouldhave been recovered from 169ppm.
WSP is waiting on the relogging of the cores to becompleted before it delivers the Company’s maiden resource estimateat Pocitos 1 that will result in an update of the NI 43-101 reportcompleted by QP Phillip Thomas in June 2023.
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, hasreviewed the technical information that forms the basis for portionsof this news release, and has approved the disclosure herein.
Mr. Thomas has joined the Company in the capacity ofCOO on 21 November 2023. He is a shareholder and Officer.
About Recharge Resources
Recharge Resources is a Canadian mineral explorationcompany focused on exploring and developing the production ofhigh-value battery metals to create green, renewable energy to meetthe demands of the advancing electric vehicle and fuel cell vehiclemarket.
All Stakeholders are encouraged to follow the Companyon its social media profiles on , , and Instagram .
On Behalf of the Board ofDirectors
“David Greenway”
David Greenway, CEO
For further information, pleasecontact:
Recharge Resources Ltd.
Joel Warawa
Phone: 778-588-5473
E-Mail: info@recharge-resources.com
Website: recharge-resources.com
Neither the Canadian Securities Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the CSE) accepts responsibility for the adequacy or accuracy ofthis release.
Disclaimer for Forward-LookingInformation
Certain statements in this releaseare forward-looking statements, which reflect the expectations ofmanagement regarding Recharge’s intention to continue to identifypotential transactions and make certain corporate changes andapplications. Forward looking statements consist of statements thatare not purely historical, including any statements regarding beliefs,plans, expectations, or intentions regarding the future. Suchstatements are subject to risks and uncertainties that may causeactual results, performance, or developments to differ materially fromthose contained in the statements. No assurance can be given that anyof the events anticipated by the forward-looking statements will occuror, if they do occur, what benefits Recharge will obtain from them.These forward-looking statements reflect managements’ current viewsand are based on certain expectations, estimates and assumptions whichmay prove to be incorrect. A number of risks and uncertainties couldcause actual results to differ materially from those expressed orimplied by the forward-looking statements, including Recharge’sresults of exploration or review of properties that Recharge doesacquire. These forward-looking statements are made as of the date ofthis news release and Recharge assumes no obligation to update theseforward-looking statements, or to update the reasons why actualresults differed from those projected in the forward-lookingstatements, except in accordance with appli cable securities laws.
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