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Amid Skyrocketing Lithium Price, Geophysical Testing Expands Potential of Argentina Project

Source: Streetwise Reports


May 3, 2022 ( Newswire) The explorer, which completed its geophysical surveys at the Rincon West lithium project, will use the data to target drilling.

Argentina Lithium and Energy Corp. (LIT:TSX; PNXLF:OTC; OAY3:FSE) just reported that it has completed the geophysical surveys at its Rincon West lithium project in Argentina's Salta province, located in the "Lithium Triangle" that straddles Argentina, Chile, and Bolivia's borders and produces about half of the world's lithium. The company announced that the studies "expand the potential extent of conductive brine aquifers at the project and will be used to target drilling at the property." The drilling is expected to commence in May.

The Rincon West project encompasses 2,470 hectares of the salar - salt lake - basin and is located just west of the Rincon Project. Rio Tinto recently purchased the Rincon project from a private entity for $825 million.

Some 36.4 line-kilometers of transient electromagnetic (TEM) soundings were conducted at Rincon West. The company noted that "the surveys provide electrical resistivity data capable of detecting and delineating conductive strata potentially associated with concentrated lithium brines. TEM soundings are an advanced reconnaissance technique frequently employed in the exploration of lithium salars."

Figure 1 presents a map showing the extent of highly conductive subsurface strata at the project (shaded yellow), interpreted from the TEM to represent the potential extent of concentrated brine aquifer. The prospective ground defined by the TEM survey covers 1,570 hectares or approximately 64% of the project.

Miles Rideout, Argentina Lithium's VP of Exploration, noted, "The TEM surveys suggest that interpreted brine aquifers extend substantially further west and south than indicated by earlier electrical surveys, demonstrating greater potential than expected by the previous owners. We plan to begin drilling in May to test these targets.

"These new geophysical data allow us to assess potential aquifer quality and depth prior to drilling, which is extremely advantageous for targeting," he added.

Figure 2 presents a sequence of TEM sections overlaid on the interpretation map. The upper bound of each section represents the topography of the terrain at surface. The lower extent of each section represents the maximum depth of investigation, not the limit of the conductive targets. In this presentation, warm colors shading red-to-purple designate electrically-conductive strata consistent with brine aquifers in a salar setting. Cold colors (blue-white) represent resistive units interpreted to lack lithium brine potential. The presented resistivity unit is Ohm-m. Based on published drill data and geophysics from similar salar projects, the company expects prospective aquifer zones to exhibit resistivities below approximately 5 Ohm-m. Brine-rich porous units are expected to produce resistivities on the order of 1 Ohm-m.

The announcement from Argentina Lithium comes amid sky-high lithium prices. Fortune reported that the lithium prices have "surged a staggering 438% above last year," as supply struggles to keep up with electric vehicle battery demand.

Argentina Lithium is on the radar of industry observers and is one of The Critical Investor's seven top picks for the year. The analyst wrote in January 2022:

"As a member of the Grosso Group, Argentina Lithium is firmly focused on Argentina for doing business. Joe Grosso and his people have been conducting exploration and development for decades in the LatAm country, and as such know exactly how to successfully navigate the sometimes complex processes in Argentina. After a period of relative inactivity due to lowering lithium sentiment, Argentina Lithium acquired several prospective brine lithium properties in the so-called Lithium Triangle, raised almost C$6 million, and is completing surveys and exploration permitting at the moment, as preparation for drill programs at two of their projects later this year.

"One of these projects is the Rincon West project, and interestingly the next door Rincon project (owned by Rincon Mining, a private company owned by Sentient Equity Partners) was recently acquired by Rio Tinto for $825M. With lithium product prices at all-time highs and over four times the levels needed to render 300-400Mg/L Li grades for brines economic, there seems to be a pretty good chance at exploration success this summer."

On Jan. 14, The Critical Investor reported that Argentina Lithium raised just under CA$6 million in a non-brokered private placement the end of last year and acquired options on additional properties.

"This survey at Argentina Lithium's Rincon West Project is among our top priorities to scout for and acquire properties which have the potential to host lithium deposits," Rideout stated.

Argentina Lithium holds additional properties in the Lithium Triangle. Antofalla North includes 9,000 hectares of mining claims, with another 5,380 hectares optioned. Albemarle, a major lithium producer, holds land just 500 meters to the south of the Antofalla North project.

The Pocitos project has some 26,000 acres under option and has seen limited exploration. The company plans to conduct TEM surveys on the property this year.

The Incahuasi project, encompassing more than 25,000 hectares, is located 34 km from the town of Antofagasta de la Sierra in Catamarca province. Four drill holes confirmed lithium-bearing brines of an average of 109 mg/L lithium and 6,718 mg/L potassium. TEM surveys are planning for this year.

Argentina Lithium has nearly 74 million shares issued and 97 million shares fully diluted. Its market cap totals approximately CA$32 million.


1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She owns, or members of her immediate household or family own, securities of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Argentina Lithium and Energy. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Argentina Lithium & Energy, a company mentioned in this article.

Additional disclosures:

The Critical Investor is not a registered investment advisor, and currently has a position in these stocks: Argentina Lithium and Energy Corp.

Argentina Lithium and Energy Corp. is a sponsoring company. All facts are to be checked by the reader. For more information go to the company's website and read the company's profile and official documents on, also for important risk disclosures. This article is provided for information purposes only, and is not intended to be investment advice of any kind, and all readers are encouraged to do their own due diligence, and talk to their own licensed investment advisors prior to making any investment decisions.

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