VANCOUVER, British Columbia, June 29, 2022 (GLOBE NEWSWIRE) — Recharge Resources Ltd. (“Recharge” or the “Company”) (RR: CSE) (RECHF: OTC) (SL5: Frankfurt) is pleased to announce that the company has received the road gravel permit for its “Pocitos 1” Lithium Brine project in Salta, Argentina. (See press release on the option agreement of March 23rd, 2022). The Pocitos community was extremely helpful and signed a memorandum confirming our drilling program. The Recharge gravel permit needed to mobilize a drilling rig was the final step to begin drilling the advanced Pocitos 1 project. Recharge is working closely with its in-country advisors on the unique 450-meter-diameter production well which will be positioned to confirm the continuity of the lithium brines delineated during previous drilling campaigns for the establishment of an NI 43-101 compliant resource.
Video of the Pocitos drilling with an estimated flow rate of 75,000 liters per minute (2018):
CEO and Director, David Greenway says: “We are making rapid progress with our Pocitos 1 lithium salar drilling project. As you can see in the video link above, and available on Youtube, impressive flow rates have been estimated at over 75,000 liters per minute of brine lithium. With two existing drill holes in place, this new drilling will help establish an NI 43-101 resource. We have benefited greatly from an integrated geological team that has allowed us to really get started, engage with the community and receive the proper permits to move the project forward. »
A media clip accompanying this announcement is available by clicking on the image or link below:
Fig 1 The orange triangle indicates the approximate location of the borehole
About the Pocitos 1 Lithium Brine Project
The Pocitos Project is located approximately 10 km from Pocitos Township where there are gas, electricity and telephone internet services. Pocitos I is about 800 hectares and is accessible by road. Previous exploration and development teams have spent over US$1.5 million exploring the project, including surface sampling, trenching, TEM geophysics and the drilling of two 400m holes which have produced outstanding results. Locations for immediate follow-up drilling have already been designed and identified for future exploration.
Lithium values of up to 125 ppm from laboratory analyzes conducted by Alex Stewart were recorded by AIS Resources Ltd during the project’s first drilling campaign in May 2018. AIS used a double packer in the holes of HQ Diamond drillhole drilled to a depth of 409 meters and the flow rate from the hole was estimated at over 75,000 liters per minute and observed for over 5 hours. Both boreholes had exceptional brine flows. Recharge’s plan is to sample or pair current drill holes and drill two more holes to work towards an NI 43-101 resource calculation.
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined in NI 43-101, has reviewed the technical information that forms the basis of portions of this press release and has approved the disclosure here.
About recharge resources
Recharge Resources is a Canadian-based mineral exploration company focused on exploring for and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the growing market for electric vehicles and fuel cell vehicles.
On behalf of the Board of Directors,
David Greenway, CEO
For more information, please contact:
Recharge Resources Ltd.
Mr. Joel Warawa
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 management’s expectations regarding Recharge’s intention to continue to identify potential transactions and make certain changes and applications to the business. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. These 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 occur, what benefits Recharge will derive therefrom. These forward-looking statements reflect management’s current beliefs 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 any forward-looking statements, including the results of exploration or examination of properties that Recharge acquires. These forward-looking statements are made as of the date of this press release, and Recharge undertakes no obligation to update these forward-looking statements, or to update the reasons why actual results differ from those projected in the forward-looking statements, except in accordance with applicable securities laws.