(via TheNewswire)
The company has outlined a plan to drill an additional 3 holes at the Pocitos project. The drill holes will be focused on:
Resource Expansion: The company is currently awaiting its much-anticipated NI 43-101 maiden resource estimate being prepared by
WSP Australia Pty Ltd (“WSP”). Additional holes will be positioned using the previously completed MT survey and NI 43-101 report to expand upon the maiden resource.Resource Confidence: The wells will be ideally positioned to reclassify the resource from the indicated and inferred category to the measured category, and then with Ekosolve engineering data to the proven and probable category which will be the premise of the company’s follow-on scoping and bankable feasibility studies.
Production Ready: One of the three wells will be bore out to a production diameter in preparation for the installation 4-6 other production wells to allow up to 20,000 tonnes per year of lithium carbonate/lithium chloride to be produced from the proposed Ekosolve plant at the Pocitos project.
The drilling plan currently being reviewed is pending permits from the Salta mining courts and
About
The Pocitos 1 Project is located approximately 10km from the township of Pocitos where there is gas, electricity, and accommodation. Pocitos 1 is approximately 800 hectares and is accessible by road. Collective exploration totals over
Lithium values of 169 ppm from drill hole 3 packer test assayed from laboratory analysis conducted by
Recharge is awaiting the completion of the process engineering work to be completed by
WSP Australia is waiting on the relogging of the cores to be completed before it delivers the Company’s maiden resource estimate at Pocitos 1 that will result in an update of the NI 43-101 report completed by QP Phillip Thomas in
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Figure 1. Pocitos Lithium Claim Map
Qualified Person
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein.
About
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On Behalf of the Board of Directors
“David Greenway”
For further information, please contact:
Phone: 778-588-5473
E-Mail:info@recharge-resources.com
Website:recharge-resources.com
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 the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may 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 obtain from them. These forward-looking statements reflect managements’ current views 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 the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
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