Negotiations are being finalised with a driller to start the initial five well campaign.
Applications have been made to the Ministerio de Produccion y Desarrollo Sustentable? del Gobierno de Salta (Minister of Production and
The two wells for the Pocitos 1 block approved that were recently announced (
The objective of this drill program will be to upgrade the recently announced NI 43-101 Inferred Mineral Resource Estimate ('MRE') by providing drill hole, porosity and permeability. Given the drill hole spacing, the Company's geologists will be targeting a proven and probable category as well as collecting pre-engineering pumping data in preparation for building a Ekosolve direct lithium extraction ('DLE') pilot plant and follow on full scale 20,000 tonne per year plant ('TPY') at the project.
The recently announced MRE for the
The geophysics and block model prepared by WSP shows a sandy unit extending across Pocitos 1 that has higher porosity - refer Page 14-4 NI 43-101 Report 'NI 43-101 technical Report- Pocitos I and II,
WSP indicated in the Report at the
Supply and Demand
Benchmark Minerals have confirmed in their 'Trillion dollar battery' 2023 paper that there are 238 gigafactories currently producing LFP and other lithium batteries requiring an estimated three million tonnes of lithium carbonate by 2030. There are more than 60 additional gigafactories being built to achieve a total estimated 8.9 terawatts of capacity (8,900,000,000,000 watts). The top 10 lithium producers in the world are currently producing a total of 715,000 tonnes in 2023. This represents just 23% of the 2030 demand estimate.
About WSP
WSP is a leading global consultancy with expertise in hydrology and lithium brine resource estimates. WSP provides strategic advisory, engineering, and design services to clients seeking sustainable solutions in the transportation, infrastructure, environment, building, energy, water, and mining sectors. Its 67,000 trusted professionals are united by the common purpose of creating positive, long-lasting impacts on the communities it serves through a culture of innovation, integrity, and inclusion. In 2022, WSP reported
About
The company has published a NI 43-101 compliant Inferred Mineral Resource Estimate (MRE) for the
The full NI 43-101 Report dated
About
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Contact:
Tel: 778-588-5473
Email: info@recharge-resources.com
Web: recharge-resources.com
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such 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 do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements' current views 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 the forward-looking statements, including Recharge's results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
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