Feb. 3, 2023
Recharge Resources Ltd. (CSE: RR)(OTC: RECHF) — currently trading around C$0.40 per share — has announced that its recently-completed Pocitos-1 drill hole, which intercepted the 2018 lithium brine discovery aquifer, has flowed for a 2-week period and assayed at an average of 161 PPM lithium showing consistent flow and grade of lithium content from the target aquifers at approximately 350 meters below surface.
The company’s flagship, 100%-owned Pocitos-1 lithium project is situated within the prolific Lithium Triangle of South America, which encompasses parts of Argentina, Chile, and Bolivia — representing more than half of global lithium resources.
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The company reports that the newly-released assays have exceeded that of the measured lithium content of the 2018 discovery wells at Pocitos-1 with more drilling to come.
Recharge Resources CEO David Greenway commented via press release:
“The world needs more lithium and Pocitos-1 continues to present that it may be a contributing puzzle piece to this growing concern. The future of the Pocitos-1 project continues to improve and we couldn’t be more excited by these results. This is a great result as we have achieved a consistent lithium concentration 40 ppm higher than was previously recorded but with substantial brine flow. Our next goal of establishing a NI 43-101 compliant mineral resource, a scoping study of the project, and formalizing our offtake agreement for lithium carbonate is getting closer.”
Recharge is aiming to build up to a 20,000 tonne per year EkoSolve™ lithium extraction plant at Pocitos-1 in order to supply Richlink Capital Pty Ltd. clients up to 20,000 tonnes of lithium per year as previously announced under a Letter of Intent and framework agreement.
Recharge licensed EkoSolve — which eliminates the need for costly evaporation ponds — in Q3 2022 and has an Argentina-wide license for the utilization of the extraction technology. Next steps at Pocitos-1 include drilling a third production-ready borehole to be included in the upcoming mineral resource calculation.
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Additionally, Recharge is advancing its 100%-owned Georgia Lake North & West lithium project in Ontario, Canada, and its 100%-owned Brussels Creek copper-gold-palladium project in British Columbia, Canada.
At Georgia Lake, the company recently completed a high-resolution heliborne magnetic survey. Data compilation from the survey is anticipated later this quarter wherein the company plans to deploy an aggressive spring 2023 field program.
At Brussels Creek, Recharge has announced a fully-funded Q1 2023 drill program slated for 900 meters across 3 drill holes to test the potential for copper-gold mineralization similar to what’s present at the adjacent New Afton mine owned by New Gold Inc. (NYSE-Amer: NGD)(TSX: NGD).
Looking ahead, speculators can expect news flow from multiple 100%-owned projects throughout 2023 as Recharge continues its early-stage exploration efforts across multiple high-demand, clean-energy commodities on multiple continents.
For more on Recharge Resources, please be encouraged to contact the company’s IR department at 778-588-5473 or via email at firstname.lastname@example.org.
Editor, Resource Stock Digest