How Did Argosy Minerals Achieve the Substantial Upgrade in Lithium Resources?

JORC Resource Upgrade at Rincon Lithium Project: A Leap Forward

Argosy Minerals Limited, a key player in the lithium market, has announced a substantial 180% increase in the Total Mineral Resource Estimate (MRE) for its Rincon Lithium Project in Salta Province, Argentina. This marks a significant stride in lithium resource development, reflecting a heightened potential for sustainable commercial production.

Monumental Increase in Lithium Resources: Details of the Resource Upgrade

The upgraded MRE stands at a striking 686,875 tonnes of lithium carbonate (Li2 CO3), exhibiting a 2. 8-fold increase from the previous estimate. This consists of:

Indicated MRE: 606,313 tonnes of Li2CO3 with a weighted mean average lithium concentration of 326mg/L.
Inferred MRE: 80,562 tonnes of Li2 CO3 with a weighted mean average lithium concentration of 351mg/L.

Spatial Distribution

The Indicated MRE spans various depths across the project area, with the deepest point reaching 350m in the central and southern regions.

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The Inferred MRE is found from 350m to 400m depth in the central and southern areas.

Future Prospects and Commercialization: Impact on Production Targets

This significant resource upgrade forms the foundation for revising and increasing commercial production targets and extending the projected life of the mine.

Dynamic Modelling Efforts

Argosy is undertaking dynamic modelling to refine its production forecast and optimize brine borefield design. This process involves:

Simulating density-dependent flow and solute transport.
Utilizing transmissivity and hydraulic conductivity data.
Calibrating the model against data from Argosy’s pilot brine production plant.

Exploration and Drilling Insights: Exploration Techniques and Findings

A total of 29 brine investigation drill holes, extending up to 415m, have been completed.
The exploration included mineral exploration, monitoring, and production bores.
Leapfrog, a geological modelling package, was used for hydrostratigraphic modelling and lithium concentration interpolation.

Deep Test Production Bores

Two deep test production bores were drilled to depths of 350m, confirming the feasibility of brine abstraction from the deep clastic sediment aquifers. These tests indicate semi-confined and leaky aquifers, suggesting sustainable extraction during operations.

Argosy’s Strategic Positioning: Management's Vision

Jerko Zuvela, Argosy's Managing Director, expressed satisfaction with the upgraded MRE, emphasizing its role in supporting the company's ambitious growth phase and the full development of the Rincon Lithium Project.

Potential for Further Expansion

The resource and brine aquifer remain open at depth, offering excellent opportunities for further resource expansion through deeper drilling and tenement acquisitions.

The substantial upgrade in the Total Mineral Resource Estimate at the Rincon Lithium Project by Argosy Minerals represents a major leap in lithium resource development. This upgrade not only bolsters Argosy's position in the lithium market but also promises to significantly impact the future of sustainable lithium production, crucial for the burgeoning electric vehicle and renewable energy industries.

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