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Highlights
- Argosy Minerals announces a substantial upgrade in the Rincon lithium resource estimate.
- New tenements and expanded exploration targets in Argentina support the company’s growth plans.
- Project covers over 86 sq km, bolstering lithium production potential and infrastructure access.
Argosy Minerals (ASX:AGY) has reported an expanded resource estimate for its flagship Rincon lithium project, located in Argentina’s Salta province. This update includes new tenements acquired in June, additional exploration targets, and a broader plan for related field activities. The estimate reflects the volume of lithium-rich brine contained within the Rincon aquifer, highlighting the project’s potential as a significant lithium source.
To prepare the update, Argosy engaged AQ2, a Perth-based water management consultancy, which assessed the newly acquired tenements and reviewed exploration targets. The findings indicate a total resource of 731,801 tonnes of lithium carbonate with an average lithium concentration of 329 milligrams per liter (mg/L). This includes an indicated resource of 640,330 tonnes at 327 mg/L and an inferred 91,471 tonnes at 352 mg/L. The combined figures strengthen the project's position in the lithium market.
AQ2 also revised Rincon’s exploration target, estimating a lithium carbonate potential of between 186,000 tonnes and 466,000 tonnes. This target spans depths from approximately 102.5 meters to 400 meters in the northern project area and includes alluvial fan tenements with potential lithium deposits. Collectively, the expanded resource and exploration targets suggest a total lithium carbonate range between 917,000 tonnes and 1.2 million tonnes at a depth of 400 meters, reinforcing the project's growth trajectory.
The updated figures are essential to ongoing hydrogeological and dynamic modeling at Rincon. Argosy’s managing director, Jerko Zuvela, highlighted that these new numbers would enhance the engineering and feasibility studies currently underway. "These significant milestones further validate our ambitions and near-term growth plans to fully develop the Rincon project," Zuvela noted.
In June, Argosy acquired an additional 58.12 square kilometers of tenements through Puna Mining SA, a local company. This acquisition has increased Rincon’s total area to over 86 square kilometers, enabling a broader reach for lithium extraction and supporting infrastructure. The expanded acreage provides Argosy with increased access to water, infrastructure, energy sources, and suitable land for its planned 10,000 tonnes-per-annum operation.
Located within the new tenements, the recent drilling areas contributed significantly to the updated resource estimate, strengthening Argosy’s ability to meet its development goals for the Rincon project. The comprehensive resource assessment and expanded area emphasize Argosy’s commitment to advancing Rincon as a strategic lithium resource in Argentina.
