Exploration Drilling Returning Optimistic Outcomes at Argentina Lithium Venture
December 20, 2022 (Investorideas.com Newswire) The demand for battery supplies for EVs has led to the worth of lithium going by way of the roof. Amid this, Argentina Lithium and Vitality is drilling at one flagship lithium undertaking and expects to start quickly at one other.
The Lithium Triangle, a area that features elements of Chile, Argentina, and Bolivia, produces round half of the world’s lithium, and Argentina itself is the world’s fourth largest lithium producer. Lithium is a vital ingredient for batteries for electrical automobiles (EVs), and as demand has soared, so have costs, with the worth of lithium carbonate quadrupling during the last yr.
Enter Argentina Lithium & Vitality Corp. (LIT:TSX.V; PNXLF:OTC; OAY3:FSE), a small-cap agency with 4 exploration lithium initiatives in Argentina. The corporate is a part of the Grosso Group, a sequence of corporations which have a historical past of mineral exploration success in Argentina going again a number of many years. Chairman Joseph Grosso was named Argentina’s Mining Man of the 12 months in 2005.
Catalyst: Maiden Useful resource Calculation within the Spring
Rincon West is Argentina Lithium’s flagship undertaking, situated on the Rincon Salar in mining-friendly Salta Province, an space ranked second-best for mining in Argentina within the Fraser Institute’s annual survey of mining corporations. Salars are salt lakes that may have lithium diluted within the underground brine.
Adjoining to Rincon West is the Rincon undertaking that mining large Rio Tinto acquired for US$825 million earlier this yr. Australia-based Argosy Minerals Ltd., an AU$800 million market cap firm, additionally has a lithium undertaking within the space that it plans to fast-track improvement.
Transient electromagnetic (TEM) surveys on Argentina Lithium’s 3,742-hectare Rincon West undertaking detected strata according to aquifers containing concentrated brines over 64% of the property.
The corporate adopted up on this with exploration drilling, with six holes accomplished to this point and outcomes introduced on the primary 4. The preliminary gap gathered brine samples over a 70-meter thick permeable interval and returned lithium grades starting from 225 to 380 mg/liter. Assays from the second drill gap resulted in lithium values starting from 337 to 367 mg/liter.
“Drilling up to now validates that the adjoining lithium salar extends beneath our properties, with constantly excessive lithium grades,” said Miles Rideout, the corporate’s vice chairman of exploration.
“The fourth exploration gap has produced our greatest outcomes up to now. Lithium brines begin at 38 meters depth, however the thrilling result’s the interval from 95 m to 227 m, with lithium values starting from 334 to 382 mg/liter over a steady 132 m interval,” famous Rideout.
“What’s fascinating is that every one 4 holes have found lithium in grades and intersections which can be comparable with these grades and intersections at Rio Tinto and Argosy,” CEO Nikolaos Cacos informed Streetwise Experiences. “So it seems to be like we’re off to the races. We’re feeling very, very assured. We have one thing of significance right here.”
The corporate expects to launch a maiden useful resource calculation on Rincon West within the spring.
Argentina Lithium’s second flagship undertaking is the Antofalla North undertaking, situated lower than 20 km west of Salar de Hombre Muerto, Argentina’s largest lithium-producing operation. Lithium large Albemarle holds property simply 500 meters south of the Antofalla North undertaking. Argentina Lithium holds about 15,000 hectares of claims on the property, each wholly owned and optioned.
The corporate is awaiting the receipt of its exploration work allow after which plans to start a TEM geophysical survey, adopted by a drill program.
As well as, Argentina Lithium holds two extra lithium properties in Argentina, the 26,000-hectare Pocitos undertaking and the 25,000-hectare Incahuasi undertaking, that aren’t as far alongside in exploration.
Elementary Analysis’s Head of Analysis, Sid Rajeev, revealed a report on Argentina Lithium on July 13, 2022. On the time, when LIT inventory was buying and selling at CA$0.24, he famous that “LIT is buying and selling at simply $215/hectare vs. the common of $524/ha for pre-resource stage juniors. The sector had a number of M&A transactions up to now yr, and we consider that miners and battery producers are always in search of enticing lithium initiatives for acquisition to safe long-term/steady provide.” The inventory is presently buying and selling at CA$0.28.
Rajeev additionally famous, “As LIT’s initiatives are near well-known initiatives held by majors, the corporate may be topic to M&A occasions if it is ready to delineate a useful resource in a number of of its property.”
The agency initiated protection with a Purchase score and famous that upcoming catalysts embrace “drill outcomes from Rincon West and sturdy investor urge for food for EV metals.”
The agency has roughly 129 million shares issued and excellent and 213 million shares totally diluted.
Argentina Lithium inventory trades on the TSX Enterprise Trade and, over the previous 52 weeks, has traded in a variety of CA$0.20 to CA$0.50. It additionally trades on the U.S. OTC market beneath the ticker PNXLF.
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