Rincon Lithium Project - Argentina

OVERVIEW

The Rincon Lithium Project currently comprises up to ~2,572 hectares of Mining Titles within the Salar del Rincon in Salta Province, Argentina.

Argosy currently has a 77.5% interest in the JV entity that owns Rincon Lithium Project - Puna Mining S.A., with the right to move to 90% ownership in consideration for funding Stage 3 development.

The Mining Titles are 100% owned by Puna Mining and/or Argosy has legal, secure, binding and exclusive option rights to complete 100% acquisition of the properties

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.

SUMMARY

The Rincon Lithium Project located in the world-class “Lithium Triangle” – the world’s dominant source of lithium production:

–Located in Salar del Rincon, Salta Province, Argentina
–Flagship asset in Argosy’s lithium fast-track development strategy, staged development commenced targeting battery grade lithium carbonate (LCE) production
–Rincon is joint-venture with pre-eminent lithium processing expert, Pablo Alurralde
–Stage 1 industrial scale pilot plant now operational, with capacity up to 500tpa LCE product
–Stage 2 initial commercial development commenced – pond development ~30% complete and operational

Stage 1 plant operational & targeting initial production of battery grade LCE product

Ponds completed April 2017 and plant commenced operations end-March 2018
LCE product delivery following full commissioning & testing works during April

Stage 2 works progressing ahead of schedule

Initial 10Ha evaporation ponds completed
Construction progressing on additional 24Ha of Stage 2 ponds
Production wells completed and brine pumping on-going
Drilling progressing, targeting delineation of JORC-compliant Resource and working towards Preliminary Economic Assessment (PEA)

For Stage 3, pending successful development and production from 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.

NEAR TERM KEY MILESTONES

Continue Stage 1 industrial scale pilot plant lithium processing works to produce battery grade LCE product
Progress construction works for additional ~24Ha of Stage 2 evaporation ponds
Finalise initial JORC Resource estimate
Progress works to prepare Preliminary Economic Assessment
Execute purchase agreements for mining properties currently under option
Commence Stage 2 plant construction

 

 

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