Connect with us

Hi, what are you looking for?

Wednesday, Jun 12, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Lithium

Lithium Chile increases resource at Argentina project by 24%

This resource boost includes categorical boosts including 261,000 tonnes measured, 2,237,000 tonnes indicated, and 1,624,000 tonnes inferred

Lithium Chile increases resource at Argentina project by 24%
Camp and operations at the Salar de Arizaro. Image via Lithium Chile.

Lithium Chile Inc. (TSXV: LITH) (OTC: OTMCF) increased its resource at its Salar de Arizaro Project in Argentina by 24 per cent after the results of its updated NI 43-101 compliant resource report.

Announced on Thursday, the company reported an increased total of 4.1 million tonnes of lithium carbonate equivalent (LCE) from measured, indicated and inferred resource categories.

This boost in resources encompasses 261,000 tonnes in the measured category, 2,237,000 tonnes in the indicated category, and 1,624,000 tonnes in the inferred category. Specifically, the drill hole ARDDH-08 significantly added 559,518 tonnes to indicated and 188,886 tonnes to the inferred.

This increase stems from the discovery of an average lithium grade of 538 mg/L in well depths between approximately 200-300 metres. Also, at a grade of 343 mg/L in depths ranging from 300 to 570 metres, effectively establishing a sampled interval of 370 metres within the lithium brine reservoir.

Furthermore, over 260,000 tonnes of LCE from the ARGENTO-02 well have moved from the indicated to the measured category. The company attributes this shift to extensive long-term pumping tests and additional brine sampling.

The company completed the baseline Environmental Impact Study for the new Block IV exploration program at the end of February 2024. This submission will enable the start of the company’s exploration drilling program on Block IV. The company anticipates this starting in the second half of 2024.

Read more: Lithium South explores alternative production methods at Hombre Muerto North

Read more: Lithium South completes pumping test in Alba Sabrina Tenement

Lithium triangle holds half the world’s lithium resources

Argentina is a pivotal player in the global lithium market, largely due to its position within the “Lithium Triangle.” The triangle is an area that encompasses parts of Bolivia and Chile. It’s best known for containing over half of the world’s resources of lithium.

Additionally, the country’s popularity for lithium production is underpinned by its vast and high-quality reserves of lithium brines, particularly in the northwestern provinces such as Salta and Jujuy. These provinces hold the Salar del Hombre Muerto and Salar de Olaroz, among others.  These offer some of the highest concentrations of lithium in natural brine pools.

The Salar del Hombre Muerto has made the news specifically because of a deal struck between lithium junior Lithium South Development Corporation (TSXV: LIS) (OTCQB: LISMF) (Frankfurt: OGPQ) and major chemicals producer Pohang Iron and Steel Company (POSCO) (KRX: 005490). The deal involves the collaborative development of the Norma Edith and Viamonte claim blocks.

 

Lithium South Development Corporation is a sponsor of Mugglehead news coverage

.

Follow Mugglehead on Twitter

Like Mugglehead on Facebook

Follow Joseph Morton on Twitter

joseph@mugglehead.com

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Lithium

The current techniques to extract lithium from rock ores or brines are labour-intensive, expensive, and energy-intensive

Lithium

New mining concessions spanning about 37,000 hectares will be provided in the province's Arizaro salt flat

Lithium

Codelco has already received between 30 and 40 expressions of interest

Mining

Authorities have identified a large area in the Andes Mountains where they plan to expedite environmental permitting