(TheNewswire)
Vancouver, BC - TheNewswire - April11 th , 2022 - RechargeResources Ltd. (“Recharge” or the “Company”) ( CSE: RR ) (CNSX:RR.CN) ( OTC: SLLTF ) ( Frankfurt: SL5 ) is pleased to announce the Company hasreceived multiple proposals from Argentinian drilling companies, toconduct the upcoming drill program on its recently announced“Pocitos 1” Lithium Brine project in Salta, Argentina. (See optionagreement news dated March 23 rd , 2022)
Recharge’s in-country advisors and geological teamare now evaluating these proposals for its 2022 drill program thatwill use existing TEM geophysics data and surface sampling to identifyand drill two additional ~400m holes for a total 4 completed holesthat includes the 2018 campaign at its Pocitos 1 project in Salta,Argentina. The drill site locations will be selected in order tomaximize the project’s potential to intersect lithium bearingaquifers and model an NI 43-101 resource estimate at the Pocitos 1exploration prospect that covers 800 Has and is located 10km fromPocitos village.
Pocitos drilling with estimated75,000 litres per min flow rate:
CEO and director, Yari Nieken, states," Our in-countrytechnical team has extensive experience operating in Argentina and wasable to quickly secure multiple tender responses for our upcomingdrill program at the Pocitos 1 cateo on the Pocitos salar. As you cansee from the video link above, and available on Youtube, theimpressive flow rates are upwards of 75,000 litres per min of lithiumbearing brine. With two existing dill holes in place, this newdrilling will assist in establishing an NI 43-101 resource. We havebenefitted greatly from an embedded geological team which hasempowered us to truly hit the ground running."
Figure 1 – Pocitos 1 Lithium BrineMap
About Pocitos 1 Lithium BrineProject
The Pocitos Project is located approximately 10km fromthe township of Pocitos where there is gas, electricity, and telephoneinternet services. Pocitos I exploration licence is approximately 800hectares and is accessible by road. Previous exploration anddevelopment teams have spent over USD $1.5 million exploring theproject, including surface sampling, trenching, TEM geophysics anddrilling two 400m holes that had outstanding results. Locations forimmediate follow up drilling have already been determined andpreparations are being made for upcoming drill program.
Lithium values of up to 125ppm from Laboratory analysisconducted by Alex Stewart were recorded by A.I.S. Resources Ltd duringthe projects first drill campaign in May 2018 using a double packer inHQ Diamond drill holes to a depth of 409 metres and the flow rate ofthe hole exceeded 75,000 Litres per minute and brine continued to flowfor more than 5 hours. Both drill holes had exceptional brine flowrates. Recharge's plan is to sample the current drill holes and drilla further two holes to work towards a NI 43-101 resourcecalculation.
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. MrThomas has more than 20 years experience in this style ofmineralisation and has explored Pocitos, Rincon, Guayatayoc, andPozuleos salars.
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.
On Behalf of the Board of Directors,
“Yari Nieken”
Yari Nieken, CEO
For further information, pleasecontact:
Recharge Resources Ltd.
Mr. 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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