(TheNewswire)
Vancouver, BC – TheNewswire - May 23, 2023 - Recharge Resources Ltd. ("Recharge" or the"Company") (CSE: RR ) ( OTC: RECHF:) (Frankfurt: SL5 ) announced today that it has receivedthe drill permit to drill up to 6 additional holes at the PocitosLithium Brine Project on the Pocitos 2 Block in Pocitos salar,Argentina. The drill hole program will be implemented once themagneto telluric data is attained in late May early June andprocessed. The survey will penetrate to at least 600m depth.
Additional drilling across the contiguous Pocitos 1 andPocitos 2 blocks will assist to determine the size of the potentialresource as well as allow the confidence of the estimate to be movedfrom inferred to indicated and measured categories upon completion ofthis initial NI 43-101.
As previously announced, the basis for the NI 43-101report is well underway after Recharge’s Qualified Person, PhillipThomas set up the drill program in Argentina when he was there inNovember 2022, again in January 2023 and most recently in May of 2023to measure and review core, flow rates and assays to create theanticipated NI43-101 compliant report. External hydrologist’sworking at Rincon nearby are also scheduled to visit and inspect thesite and core.
Thomas, BSc Geol, FAusIMM MAIG, has spent the past 22years exploring for lithium brines, including building and operating apilot plant for production at Rincon Salar (sold to Rio Tinto forUS$825 Million) as well as he and his team explored the Pozuelossalar, producing an indicated and inferred resource, from fourexploration wells. (recently sold to Ganfeng for US$962 million).
Fig 2. Dec, 2022 Drilling at Pocitos 1 |
Fig 3. 2018 Drilling at Pocitos 1 | Fig 4. 2018 Drilling at Pocitos 1
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This is another milestone in the Company's endeavour tobuild up to a 20,000-tonne Ekosolve ™ direct lithium extraction (DLE)plant at the Pocitos project in order to supply Richlink Capital Pty.Ltd. up to 20,000 tonnes of lithium chloride/carbonate per year, aspreviously announced under a letter of intent of offtake.
Furthermore, Recharge is currently awaiting the resultsof its ongoing recovery and carbonate conversion studies at theEkosolve™? pilot plant at the University of Melbourne,Melbourne, Australia.
Figure 1. Recharge’s QP Phil Thomas at Ekosolve™?Testing Facility – University of Melbourne, Australia
Ekosolve ™ pre-engineering studies have shown that provided brine flow exceeds35,000 megalitres per year, 110 ppm lithium content and above havebeen deemed economic at a class C estimate. Recharge successfullycompleted a 2022 drill campaign at Pocitos 1 assaying 169 ppm and overa two-week period averaging 161 ppm Lithium. Further surface pitsamples taken from the recently acquired contiguous Pocitos 2 project sampled 181 PPM lithium, the highest lithiumvalue found on the Pocitos salar surface to date. All three drillholes at the project have had exceptional brine flow rates.
CEO, David Greenway, summarised, "Recharge ispushing forward on all fronts with drilling now completed and awaitingassays at the Brussels Creek Copper-Palladium-Gold Project. Drillingis pending at the Pocitos lithium brine project and a Spring reconprogram now approved for the Georgia Lake Lithium project. Pendingdrilling, NI 43-101, and testing at the Eksolove pilot plant shouldmake for an exciting next period for Recharge and its stakeholders atthe Pocitos lithium brine project.”
About Pocitos Lithium BrineProject
The Pocitos Project is located approximately 10 km fromthe township of Pocitos where there is gas, electricity, and internetservices. Pocitos (1 &2) is approximately 1,352 hectares and isaccessible by road. Collective exploration totaling over USD $2.0million developing the project, including surface sampling, trenching,TEM geophysics and drilling three holes that had outstanding brineflow results. Locations for immediate follow up drilling have alreadybeen designed and identified for upcoming exploration. Ournext step is to do a Magnetotelleric geophysicssurvey to position the next drill holes. This survey will penetrateto more than 800m.
Lithium values of up to 169 ppm from laboratoryanalysis conducted by Alex Stewart were recorded by during theproject’s drill campaigns as recent as December 2022. A doublepacker sa mplingsystem in HQ Diamond drill holes were drilled to a depth of up to 409metres. The flow of brine was observed to continue for more than fivehours. All holes had exceptional brine flow rates.
Figure 5. 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.
Thomas is independent of the Company and is NOT ashareholder of Recharge Resources. Thomas visited the property to viewthe core between January 15th-22 nd , 2023 and 8May 2023 to determine if additional flow tests could be arranged.
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 of Directors,
“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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