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Be the first with the news that moves the market- Recharge Resources (RR) has signed an option agreement for the Pocitos 2 Project
- The 5.3 sq. km. lithium brine project is located outside of Salta, Argentina and contiguous to the company’s ongoing operations on the Pocitos salar
- The acquisition (with some additional exploratory work) has the potential to increase the size of the resource at Recharge’s Pocitos project by more than 65 per cent
- Recharge Resources Ltd. (RR) was up 2.27 per cent, trading at C$0.45 at 10:15 am ET
Recharge Resources (RR) has signed an option agreement for the Pocitos 2 Project.
The 5.3 sq. km. lithium brine project is located outside of Salta, Argentina and is contiguous to the company’s ongoing operations on the Pocitos salar.
Previous surface sampling, trenching and VTEM geophysics suggest the continuity of the targeted lithium brine aquifer continuing from the Pocitos 1 block through the Pocitos 2 block. Pit 10 from trenching on the Pocitos 2 block saw a trench sample at 181 PPM lithium, the highest lithium value found on the Pocitos salar to date.
The company signed the deal with Spey Resources Corp. (CSE:SPEY) and can acquire up to a 100 per cent undivided interest in the project.
The acquisition (with some additional exploratory work) has the potential to increase the size of the resource at Recharge’s Pocitos project by more than 65 per cent.
Recharge’s CEO, David Greenway, explained that now that the Pocitos Project is larger, it may be just what the world needs to satisfy its hunger for lithium.
“The future of the Pocitos Project continues to improve, and we couldn’t be more excited by the continued fantastic results. Increasing the footprint with the highest lithium content assay on the entire salar, with geophysics suggesting the continuation of the target aquifer, is a significant milestone both from the perspective of the potential size of the resource but also as we begin to take into consideration water disposal after lithium extraction, plant footprint and other engineering milestones going forward. This is a fantastic achievement for Recharge and stakeholders as we move toward our next goals of establishing a NI 43-101 compliant mineral resource, a scoping study of the project and formalizing our offtake agreement for lithium carbonate.”
Recharge Resources (RR) is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
Recharge Resources Ltd. (RR) was up 2.27 per cent, trading at C$0.45 at 10:15 am ET.
