Recharge Resources launches Requests for Proposals (RFPs) for a drilling program at the Pocitos 1 Lithium Project, Argentina
Vancouver, BC – TheNewswire – April 1, 2022 – Recharge Resources Ltd. (“Recharge” or the “Company”) (CSE:RR) (CNSX: RR.CN) (OTC: SLLTF) (Frankfurt: SL5) is pleased to announce that the company has completed planning for an upcoming drilling program at its recently announced “Pocitos 1” lithium brine project in Pocitos Salar, 255 km from Salta, Argentina. (See press release on the option agreement of March 23rd2022)
Recharge works closely with its in-country advisors and geological team to prepare an RFP or Request for Proposals (RFP) to secure local drilling expertise. A planned drilling program in 2022 will use existing TEM geophysical data, surface sampling and existing drilling data to identify and drill two additional holes of approximately 400m for a total of 4 holes completed on its Pocitos 1 project at Salta, Argentina. Drill site locations will be selected to maximize project potential and complete an NI 43-101 mineral resource estimate on the Pocitos 1 exploration permit.
Pocitos drilling with an estimated flow rate of 50 to 75,000 liters per minute:
CEO and Director, Yari Nieken, says: “We are moving quickly with our project to drill two additional holes at the Pocitos 1 lithium salar. As you can see in the video link above, and available on Youtube, the impressive throughputs exceed 75,000 liters per minute of lithium brine . With two existing drill holes in place, this new drilling will help establish an NI 43-101 mineral resource. We have benefited greatly from an integrated geological team that has allowed us to be truly operational.”
About the Pocitos 1 Lithium Brine Project
The Pocitos Project is located approximately 10 km from Pocitos Township where there are gas, electricity and telephone internet services. Pocitos 1 extends over approximately 800 hectares and is accessible by road. Previous exploration and development teams have spent over US$1.5 million exploring the project, including surface sampling, trenching, TEM geophysics and the drilling of two 400m holes which have given exceptional results on brine flow. Locations for immediate follow-up drilling have already been designed and identified for future exploration.
Lithium values of up to 125 ppm from laboratory analyzes conducted by Alex Stewart were recorded by AIS Resources Ltd during the project’s first drilling campaign in May 2018 using a double packer in HQ diamond drill holes to a depth of 409 meters and hole flow rate was estimated between 50 and 75,000 liters per minute and lasted over 5 hours. Both boreholes had exceptional brine flows. Recharge’s plan is to sample current drill holes and drill two more holes to work towards an NI 43-101 mineral resource calculation
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined in NI 43-101, has reviewed the technical information that forms the basis of portions of this press release and has approved the disclosure here.
About recharge resources
Recharge Resources is a Canadian-based mineral exploration company focused on exploring for and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the growing market for electric vehicles and fuel cell vehicles.
On behalf of the Board of Directors,
Yari Nieken, CEO
For more information, please contact:
Recharge Resources Ltd.
Mr. Joel Warawa
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for forward-looking information
Certain statements in this release are forward-looking statements, which reflect management’s expectations regarding Recharge’s intention to continue to identify potential transactions and make certain changes and applications to the business. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. These statements are subject to risks and uncertainties that could cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will derive therefrom. These forward-looking statements reflect management’s current beliefs and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by any forward-looking statements, including the results of exploration or examination of properties that Recharge acquires. These forward-looking statements are made as of the date of this press release, and Recharge undertakes no obligation to update these forward-looking statements, or to update the reasons why actual results differ from those projected in the forward-looking statements, except in accordance with applicable securities laws.