Argosy Publishes Maiden Resource Estimate for Rincon Lithium Project

The report indicates an inferred mineral resource of 207,957 tonnes of contained lithium carbonate equivalent product calculated from the results of an initial eight drill holes.

Australian miner Argosy Minerals (ASX:AGY) released a maiden mineral resource estimate for its Rincon lithium project in Argentina on Tuesday (June 19).

The report indicates an inferred mineral resource of 207,957 tonnes of contained lithium carbonate equivalent (LCE) product calculated from the results of an initial eight drill holes.

“We are very confident the resource estimate will support our project production targets that we expect to report within our preliminary economic assessment (PEA),” said Managing Director Jerko Zuvela.

“Together with additional drilling works will also enable future upgrades to the maiden Joint Ore Reserve Committee mineral resource,” he added.

According to the estimate, weighted mean average lithium concentrations range between 324 milligrams per liter (mg/l) and 369 mg/l, with a maximum recorded concentration of 490 mg/l, and an estimated specific yield varying between 1 and 13 percent.

“The resource estimate further validates the company’s fast-track development strategy to fully develop the Rincon lithium project toward commercial production. We are committed to building a sustainable lithium production company,” Zuvela also noted.

Looking ahead, the company is focused on hydrogeological works, which are planned and/or in progress with respect to brine aquifer investigations in association with the PEA works being conducted.

Argosy currently holds a 77.5-percent interest in Rincon, which is located in Salta province within the “lithium triangle” — host to the world’s largest lithium resources.

The company has the right to move to 90-percent ownership in consideration for funding stage-three development. At that point, the company will decide the best development pathway to target commercial production.

Earlier this month, Argosy announced that the first batch of LCE was produced at Rincon from an industrial-scale pilot plant.

On Tuesday, shares of Argosy closed up 7.69 percent in Sydney at AU$0.28.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Torian Resources Limited Significant Gold Results from Surface at Mt Stirling

Perth, Australia (ABN Newswire) – Torian Resources Ltd (ASX:TNR) is pleased to advise that recent drilling results continue to extend the Mt Stirling Gold System over ~1.1km of Strike, ~300m at depth, and it remains open in multiple directions.


– The interpreted strike of the Mt Stirling gold system exceeds 1.160km with Mt Stirling Main Zone; Hanging Wall and Viserion lodes all remaining open along strike and down-dip.

Keep reading... Show less

eMetals Limited Updates Shareholders On Exploration – April 12, 2021

eMetals Limited (ASX:EMT) (eMetals or Company) is pleased to update shareholders on exploration activities which have commenced across the Company’s projects.


Keep reading... Show less

Discovery Harbour Provides Newcrest’s Planned Program for Fortuity 89, Nevada

Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the “Company” or “Discovery Harbour”) is pleased to announce that Newcrest Resources Inc., a wholly owned subsidiary of Newcrest Mining Limited (“Newcrest”), has provided the details of its planned program for the Fortuity 89 epithermal gold property in Nevada.

The Fortuity 89 property covers very limited outcrop surrounded by a large covered area. The outcrop and interpreted geology are prospective for concealed low sulphidation epithermal gold mineralization below shallow unconsolidated alluvial gravels. Newcrest’s planned activities include a geophysical program encompassing a 675 line kilometre drone airborne magnetic survey, a 250 station ground gravity survey and a 45 line kilometre audio band magnetotellurics (AMT) resistivity survey. It is intended that geologic and alteration sampling and mapping will also be undertaken with a soil geochemical sampling program. The intended outcome of this program is to identify potential drill targets for testing this calendar year.

Keep reading... Show less

Blackdome-Elizabeth Gold Project 2021 Exploration Plan and Update

Tempus Resources Ltd. (“Tempus” or “the Company”) (ASX:TMR)(TSXV:TMRR) is pleased to provide an update on the exploration plan for the upcoming field season at the Blackdome-Elizabeth Gold Project, located in British Columbia, Canada

The 2021 exploration program at Elizabeth and Blackdome is fully permitted and on schedule to commence at the end of Q2, 2021. The program will consist of 7,500 metres of down plunge and along strike diamond drilling at Elizabeth to expand the known gold mineralisation, in parallel with detailed alteration and mapping studies at Blackdome in support of future resource expansion drilling.

Keep reading... Show less

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the “Funding Plan”) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion 1 , building on and replacing the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020.

Under the HoA, subject to securing approval by OT LLC and any required support from the Government of Mongolia, and subject to timing, availability, and terms and conditions being acceptable to both parties, Rio Tinto and TRQ will:

Keep reading... Show less

Top News

Related News