Argentina Lithium Announces Receipt of Drill Permit for the Paso de Sico Property at its Rincon West Lithium Project
Argentina Lithium & Energy has received a two-year exploration permit for the Paso de Sico mining concession at its Rincon West Project in Salta Province, Argentina. The company plans to initiate a six-hole diamond drilling program to evaluate lithium brine potential. The Paso de Sico property, consisting of 791.3 hectares, is strategically located adjacent to major highways and a 345 kW power corridor, making it suitable for potential future processing facilities. The company plans approximately 8000 metres of drilling throughout Rincon West over 18 months, funded by a prepaid drilling contract established in 2023.
Argentina Lithium & Energy ha ricevuto un permesso di esplorazione biennale per la concessione mineraria Paso de Sico presso il suo progetto Rincon West nella provincia di Salta, Argentina. L'azienda prevede di avviare un programma di perforazione a diamante con sei fori per valutare il potenziale di salamoia di litio. La proprietà Paso de Sico, che si estende su 791,3 ettari, è situata strategicamente accanto a importanti autostrade e a un corridoio elettrico da 345 kW, rendendola adatta per potenziali impianti di lavorazione futuri. L'azienda prevede circa 8000 metri di perforazione in tutto il progetto Rincon West nei prossimi 18 mesi, finanziati da un contratto di perforazione prepagato stabilito nel 2023.
Argentina Lithium & Energy ha recibido un permiso de exploración de dos años para la concesión minera Paso de Sico en su Proyecto Rincon West en la provincia de Salta, Argentina. La empresa planea iniciar un programa de perforación diamantina de seis hoyos para evaluar el potencial de salmuera de litio. La propiedad de Paso de Sico, que abarca 791.3 hectáreas, está estratégicamente ubicada adyacente a las principales carreteras y un corredor eléctrico de 345 kW, lo que la hace adecuada para posibles futuras instalaciones de procesamiento. La empresa planea aproximadamente 8000 metros de perforación en todo el proyecto Rincon West durante los próximos 18 meses, financiados por un contrato de perforación prepagado establecido en 2023.
아르헨티나 리튬 및 에너지가 아르헨티나 살타 주의 리콘 웨스트 프로젝트에 있는 파소 데 시코 광산 허가에 대해 2년 탐사 허가를 받았습니다. 이 회사는 리튬 염수 잠재력을 평가하기 위해 6개의 다이아몬드 드릴링 프로그램을 시작할 계획입니다. 791.3 헥타르로 구성된 파소 데 시코 지역은 주요 고속도로와 345kW 전력 코리도르에 인접해 전략적으로 위치해 있어 향후 가공 시설에 적합합니다. 이 회사는 2023년에 체결된 선불 굴착 계약으로 자금을 조달하여 향후 18개월 동안 리콘 웨스트 전역에서 약 8000미터의 드릴링을 계획하고 있습니다.
Argentina Lithium & Energy a reçu un permis d'exploration de deux ans pour la concession minière Paso de Sico dans son projet Rincon West dans la province de Salta, en Argentine. L'entreprise prévoit de lancer un programme de forage au diamant de six trous pour évaluer le potentiel de saumure de lithium. La propriété de Paso de Sico, qui s'étend sur 791,3 hectares, est stratégiquement située à proximité des routes principales et d'un corridor électrique de 345 kW, ce qui la rend adaptée aux futures installations de traitement potentielles. L'entreprise prévoit environ 8000 mètres de forage dans tout le projet Rincon West sur une période de 18 mois, financés par un contrat de forage prépayé établi en 2023.
Argentina Lithium & Energy hat eine zweijährige Explorationsgenehmigung für die Paso de Sico Bergbaulizenz in ihrem Rincon West Projekt in der Provinz Salta, Argentinien, erhalten. Das Unternehmen plant, ein sechslöchriges Diamant-Bohrprogramm zu starten, um das Lithiumsalzpotenzial zu bewerten. Das Paso de Sico Grundstück, das sich über 791,3 Hektar erstreckt, befindet sich strategisch günstig in der Nähe von wichtigen Autobahnen und einem 345 kW Stromkorridor, was es für zukünftige Verarbeitungsanlagen geeignet macht. Das Unternehmen plant, über 18 Monate rund 8000 Meter Bohrungen im gesamten Rincon West durchzuführen, die durch einen im Jahr 2023 abgeschlossenen Vorauszahlungs-Bohrvertrag finanziert werden.
- Strategic location adjacent to major highways and power infrastructure
- Secured two-year exploration permit for drilling operations
- Pre-funded drilling program through 2023 contract for up to 15,500 metres
- Remaining payment of US$400,000 due on option agreement
- 3% NSR royalty obligation to vendor (unless purchased for US$1.5M)
- Property currently undrilled with no confirmed lithium resources
TSX Venture Exchange (TSX-V): LIT
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OTCQX Venture Market: LILIF
Nikolaos Cacos, President and CEO, stated "The grant of the drilling permit is a long awaited step which allows us to advance the Rincon West project evaluation. Recent drilling on our West Block properties has successfully identified extensive host formations saturated with lithium-rich brines. We intend to execute a similar programme on this northern block, which is currently undrilled. We have also identified Paso de Sico as the likely site of any potential future processing plant and related extraction facilities for the project due to its very favorable setting. The Paso de Sico property is adjacent to major provincial and national highways and is crossed by a new 345 kW power corridor."
Including the planned program at Paso de Sico, approximately 8000 metres of drilling are planned throughout the Rincon West project over the next 18 months to complete brine resource, water resource and related drilling. This work continues to be funded by the prepaid drilling contract established in 2023 for up to 15,500-metres of drilling (see the latest Financial Statements for details).
The Paso de Sico property is a contiguous assemblage of four mining concessions totalling 791.3 hectares located at the northern edge of the Salar de Rincon (see Figure 1). The property is located 50 km northwest of the village of Olacapato, where the Company maintains an operational base.
In the October 6, 2022 News Release, the Company announced the acquisition of the Paso de Sico option, an agreement with a local vendor to earn a
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 early-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
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
_______________________________
Nikolaos Cacos, President, CEO and Director
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 exploration activities; the possibility that future exploration. 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.
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SOURCE Argentina Lithium & Energy Corp.
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