Argosy Minerals Limited (ASX: AGY) is preparing to commence passive seismic surveying works scheduled for this weekend at the Tonopah Lithium Project located in Nevada, USA.
The company’s highly prospective Tonopah Lithium Project is strategically located near Albemarle’s Silver Peak operation in Nevada, USA.
Argosy is progressing its exploration programme works, following the completion of the magnetotelluric (MT) resistivity survey works in 2021 – that defined a major conductive anomaly, interpreted as a potential lithium brine aquifer.
The three MT targets identified may define a closed basin and have the potential for lithium brine accumulation. To further define the targets identified, and to progress further exploration works toward drilling, Argosy has contracted a Nevada-based geophysical contractor to carry out the passive seismic survey, covering a 400m survey line spacing and 100m station spacing along all transects, for a total of up to 993 survey stations covering the area of interest previously defined.
Managing Director, Jerko Zuvela, said upon completion of the survey work and data acquisition, the data will be processed to allow analysis and interpretation works to be conducted, including utilising the existing MT data set, to determine priority drill site target selection.
“The geophysical/MT works conducted at Tonopah to date have succeeded in delineating lithium brine targets within our project area,” Mr Zuvela said.
“We now look forward to completing this additional passive seismic survey work to assist with further delineating the priority drill site targets, and preparing for our maiden drill campaign at the project later this year. We expect these works to realise the potential of our strategic project in an established ‘Tier-1’ mining region.
The significant impetus for local lithium supply in the USA has become critical, and our Tonopah Lithium Project is in prime position and enhances Argosy’s value to all strategic groups across the battery and EV industry supply chain.
“Argosy is expecting the delineated MT targets to correlate very well with the passive seismic survey data and provide extra confidence for future drill testing works.
“Argosy considers the opportunity to develop our highly prospective Tonopah Lithium Project – strategically located near Albemarle’s Silver Peak lithium operation – in a jurisdiction supportive of the commercial development of lithium, as a strategic position to further develop Argosy into a world-class lithium producer.
For further information please visit: https://www.argosyminerals.com.au/
