Recharge Resources Evaluating Multiple Proposals for Upcoming Drill Program at Pocitos 1 Lithium Project, Argentina
Vancouver, April 11th, 2022 - Recharge Resources Ltd. ("Recharge" or the "Company") (CSE:RR) (CNSX:RR.CN) (OTC:SLLTF) (Frankfurt:SL5) is pleased to announce the Company has received multiple proposals from Argentinian drilling companies, to conduct the upcoming drill program on its recently announced "Pocitos 1" Lithium Brine project in Salta, Argentina. (See option agreement news dated March 23rd, 2022) Recharge's in-country advisors and geological team are now evaluating these proposals for its 2022 drill program that will use existing TEM geophysics data and surface sampling to identify and drill two additional ~400m holes for a total 4 completed holes that includes the 2018 campaign at its Pocitos 1 project in Salta, Argentina. The drill site locations will be selected in order to maximize the project's potential to intersect lithium bearing aquifers and model an NI 43-101 resource estimate at the Pocitos 1 exploration prospect that covers 800 Has and is located 10km from Pocitos village.
Pocitos drilling with estimated 75,000 litres per min flow rate: https://www.youtube.com/shorts/dxdc9x4NpJE
CEO and director, Yari Nieken, states, "Our in-country technical team has extensive experience operating in Argentina and was able to quickly secure multiple tender responses for our upcoming drill program at the Pocitos 1 cateo on the Pocitos salar. As you can see from the video link above, and available on Youtube, the impressive flow rates are upwards of 75,000 litres per min of lithium bearing brine. With two existing dill holes in place, this new drilling will assist in establishing an NI 43-101 resource. We have benefitted greatly from an embedded geological team which has empowered us to truly hit the ground running."
Figure 1 - Pocitos 1 Lithium Brine Map
Click Image To View Full Size
About Pocitos 1 Lithium Brine Project
The Pocitos Project is located approximately 10km from the township of Pocitos where there is gas, electricity, and telephone internet services. Pocitos I exploration licence is approximately 800 hectares and is accessible by road. Previous exploration and development teams have spent over USD $1.5 million exploring the project, including surface sampling, trenching, TEM geophysics and drilling two 400m holes that had outstanding results. Locations for immediate follow up drilling have already been determined and preparations are being made for upcoming drill program.
Lithium values of up to 125ppm from Laboratory analysis conducted by Alex Stewart were recorded by A.I.S. Resources Ltd during the projects first drill campaign in May 2018 using a double packer in HQ Diamond drill holes to a depth of 409 metres and the flow rate of the hole exceeded 75,000 Litres per minute and brine continued to flow for more than 5 hours. Both drill holes had exceptional brine flow rates. Recharge's plan is to sample the current drill holes and drill a further two holes to work towards a NI 43-101 resource calculation.
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. Mr Thomas has more than 20 years experience in this style of mineralisation and has explored Pocitos, Rincon, Guayatayoc, and Pozuleos salars.
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors,
"Yari Nieken"
Yari Nieken, CEO
For further information, please contact:
Recharge Resources Ltd.
Mr. Joel Warawa
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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