Recharge Resources Initiates Requests for Proposals (RFP) for Drill Program at Pocitos 1 Lithium Project, Argentina
Vancouver, April 1st, 2022 - Recharge Resources Ltd. ("Recharge" or the "Company") (CSE:RR) (CNSX:RR.CN) (OTC:SLLTF) (Frankfurt:SL5) is pleased to announce the Company has completed planning for an upcoming drill program on its recently announced "Pocitos 1" Lithium Brine project in Pocitos Salar 255km from Salta, Argentina. (See option agreement news dated March 23rd, 2022) Recharge is working closely with it's in-country advisors and geological team to prepare a tender or request for proposals (RFP) to secure local drilling expertise. A planned 2022 drill program will use existing TEM geophysics data, surface sampling, and existing drill hole data to identify and drill two additional ~400m holes for a total 4 completed holes at its Pocitos 1 project in Salta, Argentina. The drill site locations will be selected in order to maximize the project's potential and complete a NI 43-101 mineral resource estimate at the Pocitos 1 exploration licence.
Pocitos drilling with estimated 50-75,000 litres per min flow rate: https://www.youtube.com/shorts/dxdc9x4NpJE
CEO and director, Yari Nieken, states, "We are moving forward quickly with our planned drilling of two additional holes at the Pocitos 1 lithium salar. As you can see from the video link above, and available on Youtube, the impressive flow rates are upwards of 75,000 litres per min of lithium brine. With two existing drill holes in place, this new drilling will assist in establishing an NI 43-101 mineral resource. We have benefitted greatly from an embedded geological team which has empowered us to truly hit the ground running."
Figure 1 - Pocitos 1 Lithium Brine Map
Click Image To View Full Size
Fig 1 The red diamonds are the drill hole locations. The green box is Pocitos Two currently optioned by Spey Resources Corp but no drilling has been carried out.
About Pocitos 1 Lithium Brine Project
The Pocitos Project is located approximately 10km from the township of Pocitos where there is gas, electricity, and telephone internet services. Pocitos 1 is approximately 800 hectares and is accessible by road. Previous exploration and development teams have spent over USD $1.5 million exploring the project, including surface sampling, trenching, TEM geophysics and drilling two 400m holes that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration.
Lithium values of up to 125ppm from Laboratory analysis conducted by Alex Stewart were recorded by A.I.S. Resources Ltd during the projects first drill campaign in May 2018 using a double packer in HQ diamond drill holes to a depth of 409 metres and the flow rate of the hole was estimated between 50- 75,000 Litres per minute and continued for more than 5 hours. Both drill holes had exceptional brine flow rates. Recharge's plan is to sample the current drill holes and drill a further two holes to work towards a NI 43-101 mineral resource calculation
Qualified Person
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein.
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors,
"Yari Nieken"
Yari Nieken, CEO
For further information, please contact:
Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-Mail: info@recharge-resources.com
Website: recharge-resources.com
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 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.
