(TheNewswire)
Vancouver, BC - TheNewswire - October 24, 2023 - Recharge Resources Ltd. ("Recharge" or the"Company") (RR:CSE) (RECHF:OTC) (SL5:Frankfurt) is pleased to provide thefollowing update on its drilling plans at the Pocitos 1 LithiumB rine Project( “Pocitos One” or the “Project” ) located near Pocitos townshipin Salta Province, Argentina.
The company has outlined a plan to drill an additional3 holes at the Pocitos project. The drill holes will be focusedon:
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Resource Expansion: The company is currently awaitingits much-anticipated NI 43-101 maiden resource estimate being preparedby WSP Australia Pty Ltd (“WSP”). Additional holes will bepositioned using the previously completed MT survey and NI 43-101report to expand upon the maiden resource.
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Resource Confidence: The wells will be ideallypositioned to reclassify the resource from the indicated and inferredcategory to the measured category, and then with Ekosolve engineeringdata to the proven and probable category which will be the premise ofthe company’s follow-on scoping and bankable feasibilitystudies.
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Production Ready: One of the three wells will be boreout to a production diameter in preparation for the installation 4-6other production wells to allow up to 20,000 tonnes per year oflithium carbonate/lithium chloride to be produced from the proposedEkosolve plant at the Pocitos project.
The drilling plan currently being reviewed is pendingpermits from the Salta mining courts and Mining Directorate.
David Greenway, President, and CEO commented,"Recharge Resources is looking forward to its upcoming NI 43-101compliant maiden resource estimate with follow on drilling with anobjective of increasing the size and confidence of the resource aswell as preparing the project for the company’s ultimate goal ofbeing production ready in preparation of the construction of anEkosolve plant at the Pocitos 1 project.”
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 Australia is waiting on the relogging of the coresto be completed before it delivers the Company’s maiden resourceestimate at Pocitos 1 that will result in an update of the NI 43-101report completed 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 is independent of the Company and is not ashareholder of Recharge Resources. He visited the property betweenJanuary 15th-22 nd , 2023 and 8 May 2023 to select core to besampled for resource estimate calculations.
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 applicable securitieslaws.
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