Argentina Lithium & Energy (TSXV:LIT,OTCQB:PNXLF,FWB:OAY3) has completed six diamond drill holes at its Rincon West project in Salta Province, Argentina. Drilling continues while the company expects his first resource count by the second quarter of 2023. , according to CEO Nikolaos Cacos.
The company recently reported positive lithium brine values at the Rincon West project, including 153-meter intervals ranging from 329 to 393 milligrams of lithium per liter from the sixth diamond-drilled hole. A seventh exploration hole is in the final stages of completion, and he has two more holes planned.
“All six of these holes contain lithium. It’s exactly in line with what’s been published on both, and it’s very exciting.
The 6th hole RW-DDH-006 is 960 meters away from the highest intersection previously reported on the 4th hole. A large step-out indicates that the concentrated lithium brine is widely spread in the center of the property.
“We’re building a lot of lithium. When we’re building it, the market has a knack for instantly reflecting the results of these drills… This is a big portfolio-shaking It’s time to get exploring. It’s riskier, but it’s also the most exciting time.”
Drilling at Rincon West will continue, Cacos said, as the company plans to release drilling results monthly. “By the end of the second quarter when we get involved,[we]start to attract institutional investors when we do our first resource calculations. I think it’s possible.”
Watch the full interview with Argentina Lithium & Energy CEO Nikolaos Cacos above.
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