TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQX Venture Market: LILIF
VANCOUVER, BC, Aug. 22,
2024 /CNW/ - Argentina Lithium & Energy
Corp. (TSXV: LIT) (FSE: OAY3) (OTCQX: LILIF), ("Argentina
Lithium" or the "Company") announces the completion of
geophysical surveys at its Don Fermin property (the "Property"),
part of the Company's Rincon West lithium project in Salta Province, Argentina. The results of these deep-seeking
geophysical studies expand the potential extent of conductive brine
aquifers at the project by nearly 600 hectares and have provided
targets for a new 6-hole drill program at the project, for which
permitting is underway.
The Property covers 1,456 hectares on the eastern flank of the
Salar de Rincon, approximately 19 km east of the Company's main
Rincon West property block (see location map, here). The block is
located adjacent to Rio Tinto's Rincon Project and 1.1 kilometres
northeast of Argosy Minerals' Rincon Project.
A total of 24.2 line-kilometres of Transient Electromagnetic
(TEM) sounding surveys were completed. The surveys provide
electrical resistivity data capable of detecting and delineating
conductive strata potentially associated with concentrated lithium
brines. TEM soundings are an advanced reconnaissance technique
frequently employed in the exploration of lithium salars, and the
method was successful at delineating the potential brine aquifer
for drill targeting at the Company's Rinconcita II and Villanoveño
II properties, where all holes drilled to date have intersected
significant intervals of lithium-bearing brine (see Company news
releases filed on SEDAR+ and the Company's website at
www.argentinalithium.com for details).
"The TEM survey is a powerful tool that once again has
provided us with excellent information for targeting. We are
excited to move towards drilling at Don Fermin and to potentially
define a second area for lithium resource delineation in the
future." stated Miles Rideout,
V.P. of Exploration.
The TEM surveys, data modeling and presentation were completed
by the Argentinean subsidiary of Toronto-based Quantec Geoscience Ltd.,
("Quantec"). Quantec is a recognized leader in the industry, with
experience spanning over 40 countries with over 5,000 geophysical
projects. Quantec has considerable experience in the provision of
geophysical services for the evaluation of salars in the Puna
Region of Argentina.
A total of 129 soundings were completed at 200 metre intervals
along eight east-west lines and three north-south lines (see Figure
1). Data were acquired with a Geonics Ltd. PROTEM System operated
in centre-loop sounding mode with 200
m transmitter loops. The sounding data were recorded at 2.5
and 25 Hz. repetition rates. The data were modelled with 1-D
resistivity-depth inversions, which were compiled as 2D resistivity
transects of the project. The maximum depth of investigation varied
from 200 metres to as much as 1200 metres below surface.
Figure 1 presents a map showing the extent of highly
conductive subsurface strata at the project (shaded yellow),
interpreted from the TEM to represent the potential extent of
concentrated brine aquifer and covering an area of approximately
596 hectares.
Figure 2 presents a sequence of TEM sections overlaid on
the interpretation map. The upper bound of each section represents
the topography of the terrain at surface. The lower extent of each
section represents the maximum depth of investigation, not the
limit of the conductive targets. In this presentation, warm colours
shading red-to-purple designate electrically-conductive strata
consistent with brine aquifers in a salar setting. Cold colours
(blue-white) represent resistive units interpreted to lack brine
potential. The electrical resistivity data are presented in
Ohm-metre units.
Based on published drill data and geophysics from similar salar
projects, the Company expects prospective aquifer zones to exhibit
resistivities below approximately 5 Ohm-m. Brine-rich porous units
are expected to produce resistivities on the order of 1 Ohm-m.
Qualified Person
Frits Reidel, CPG is a Qualified
Person as defined in National Instrument 43-101, is the Principal
of Atacama Water Consultants, and is independent of Argentina
Lithium. Mr. Reidel has reviewed the work carried out by the
Company's exploration team at the exploration-stage Rincon West
property. The disclosure in this news release has been reviewed and
approved by Mr. Reidel.
About Argentina Lithium
Argentina Lithium & Energy Corp is focused on acquiring high
quality lithium projects in Argentina and advancing them towards
production in order to meet the growing global demand from the
battery sector. The Company's recent strategic investment by
Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V.,
one of the world's leading automakers, places Argentina Lithium in
a unique position to explore, develop and advance its four key
projects covering over 67,000 hectares in the Lithium Triangle of
Argentina. Management has a long
history of success in the resource sector of Argentina and has assembled some of the most
prospective lithium properties in the world renowned "Lithium
Triangle". The Company is a member of the Grosso Group, a resource
management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
_______________________________
Nikolaos Cacos, President, CEO
and Director
www.argentinalithium.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release contains forward-looking statements.
Generally, forward-looking statements can be identified by the use
of terminology such as "anticipate", "will", "expect", "may",
"continue", "could", "estimate", "forecast", "plan", "potential"
and similar expressions. Forward-looking statements address future
events and conditions and therefore involve inherent risks and
uncertainties. All statements, other than statements of historical
fact, that address activities, events or developments management of
the Company believes, expects or anticipates will or may occur in
the future, including, without limitation, statements about the
Company's plans for its mineral properties; the Company's business
strategy, plans and outlooks; the future financial or operating
performance of the Company; and future exploration and operating
plans are forward-looking statements.
Forward-looking statements are subject to a number of risks
and uncertainties that may cause the actual results of the Company
to differ materially from those discussed in the forward-looking
statements and, even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, the Company.
Accordingly, readers should not place undue reliance on the
forward-looking statements. Factors that could cause actual results
or events to differ materially from current expectations include,
among other things: risks and uncertainties related to the ability
to obtain, amend, or maintain licenses, permits, or surface rights;
risks associated with technical difficulties in connection with
mining activities; the possibility that future exploration,
development or mining results will not be consistent with the
Company's expectations; the state of financial markets in
Canada and other jurisdictions;
the Company's ability to meet its working capital needs;
fluctuations in metal prices; operations in foreign countries and
the compliance with foreign laws; environmental regulations or
hazards and compliance with regulations associated with mining
activities; climate change and climate change regulations;
fluctuations in foreign currency exchange rates; failure to obtain
or delays in obtaining necessary governmental and regulatory
approvals; labour disputes and other risks generally in the mining
industry. There may be other factors that cause results or events
to not be as anticipated. Actual results may differ materially from
those currently anticipated in such statements. Readers are
encouraged to refer to the Company's Management's Discussion and
Analysis for a more detailed discussion of factors that may impact
expected future results. The forward-looking statements contained
in this press release are made as of the date hereof or the dates
specifically referenced in this press release, where applicable.
The Company undertakes no obligation to publicly update or revise
any forward-looking statements, unless required pursuant to
applicable laws. All forward-looking statements contained in this
press release are expressly qualified by this cautionary
statement.
We advise U.S. investors that the SEC's mining guidelines
strictly prohibit information of this type in documents filed with
the SEC. U.S. investors are cautioned that mineral deposits on
adjacent properties are not indicative of mineral deposits on our
properties.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/argentina-lithium-reports-geophysical-survey-adds-nearly-600-hectares-of-potential-brine-aquifer-at-rincon-west-project-and-plans-additional-drilling-302228054.html
SOURCE Argentina Lithium & Energy Corp.