Argosy Minerals Limited announced further progress at the Rincon Lithium Project, located in Salta Province, Argentina, where preparation works have continued, to conduct a resource expansion drilling program to increase the current JORC Indicated Mineral Resource estimate at the project. Argosy has also continued discussions with several strategic groups on lithium carbonate off-take propositions and related strategic funding propositions for the 10,000tpa project expansion. The drilling program will target realising the defined Exploration Target1 estimate (described below), with an exploration drill-hole and testing programme developed. The company is currently awaiting the necessary regulatory approvals to commence this phase of work, noting the deeper drilling to 300m depth requires more detailed environmental criteria prior to receiving the regulatory approval. The combined JORC Indicated Mineral Resource and Exploration Target1 estimates outline the potential for a range of up to 507,000 tonnes to 724,000 tonnes of contained lithium carbonate to a depth of 300m. These planned confirmatory works proving the Exploration Target estimate could materially increase the resource estimate, project mine life and/or provide scope to considerably increase the annual production capacity currently defined at the Project - based on the Preliminary Economic Assessment (completed in November 2018) currently confirms the Project's life-of-mine estimate of 16.5 years at a 10,000tpa Li2CO3 production rate, or an 11 year life-of-mine at a 15,000tpa Li2CO3 production rate. In addition, with the current strong lithium market and sector interest, corporate finance advisors have presented various potential debt/bond capex financing options as viable funding solutions for the 10,000tpa project expansion, which are being appraised. Furthermore, with Argosy's near-term capacity to produce battery quality lithium carbonate product from the 2,000tpa operation (currently in construction), the Company has received various off-take propositions from European and Asian lithium carbonate product end-users, with such parties strongly requesting formal cooperative arrangements.