Rincon Lithium Project - Argentina

The Rincon Lithium Project is situated in the world renowned “Lithium Triangle”

OVERVIEW

The Rincon Lithium Project currently comprises up to ~2,346 hectares of Mining Titles within the Salar del Rincon in Salta Province, Argentina.

The Project is located in the elevated and arid Puna region of Argentina and forms part of a number of highly mineralised salars in production and development.

Geological studies within the Salar del Rincon show historical sample values that are promising for further studies to determine a potential development perspective. Historical data and records within the Rincon Project have been investigated by Mr Alurralde and will be used to assist with the Company’s works programs, however no feasibility studies have been completed within the Project area. The Project area is serviced by high quality infrastructure including access via all-seasons roads, electrical power, a terminus for a natural gas pipeline and road and railway to Antofagasta port facilities in Chile.

STRATEGY

The key tasks and the strategy to develop the Rincon Lithium Project will involve:

  • Commence Stage 1 works to produce a laboratory scale quantity (up to 100-150 tonnes) of lithium carbonate equivalent (LCE) product, when Argosy will earn its initial 50% interest in the JV Entity;
  • Pending successful laboratory scale production at Stage 1, the Company will consider commencing Stage 2 development works with an aim to produce a pilot plant scale quantity of LCE product (targeting up to 1500 tpa), and increase its shareholding in the JV Entity to 77.5%;

  • For Stage 3, pending successful pilot plant scale production at Stage 2, the Company will consider the best development pathway to ultimately target commercial production from the Project and then earn its ultimate 90% interest in the JV Entity.

The targeted schedule of activities at the Rincon Lithium JV Project in order for the Company to earn the first stage 50% interest includes: