Diversified minerals company Power Minerals Limited (ASX: PNN) has commenced Mineral Resource definition drilling at the Salta Lithium-Brine Project, in the Salta province in the lithium triangle of north-west Argentina.
Drilling has now started at the Incahuasi salar (salt lake), located immediately adjacent to Ganfeng Lithium Co. Ltd’s project in the region.
Drilling is then planned to progress to the Pocitos and Rincon salares within the Salta Project.
The drilling campaign is designed to:
i) deliver a maiden Mineral Resource at Incahuasi and Pocitos;
ii) expand the existing Mineral Resource at Rincon, with the aim of upgrading the Salta Project’s existing JORC Mineral Resource; and
iii) support future development plans at the Project.
“We are excited to have commenced resource definition drilling at the Salta Project. The programme will aim to deliver a substantial resource upgrade at the Project via targeted drilling at the Incahuasi, Pocitos and Rincon salares, and represents a key step in our development pathway for the Project,” Executive Director, Mena Habib, said.
Drilling at Incahuasi is planned to consist of two diamond drill holes for a total of 1,000m, and is designed to deliver a maiden JORC Mineral Resource at this priority target.
The Incahuasi drilling and sampling is expected to take eight-ten (eight to 10) weeks to complete. Lithium brine and drill core samples will then be sent for laboratory tests and chemical analysis, and results will be released when available.
Power is also conducting a Vertical Electrical Sounding (VES) geophysical survey programme at the Salta Project and, along with its previous geophysical surveys and lithium exploration database, is using the results to refine drill targets at the three salares.
To date, VES surveys have been successfully completed at the Incahuasi and Rincon salares, and a survey is currently underway at Pocitos. The results have confirmed the potential for both salares to host additional lithium brines, and highlight the Mineral Resource potential at Incahuasi and the Mineral Resource expansion potential at Rincon.
Experienced local Argentinian drilling contractor Hidrotec SRL is contracted to undertake the drilling at Incahuasi, Pocitos and Rincon. Upon completion of drilling at Incahuasi, the rig is scheduled to immediately re-locate to the Pocitos salar, and then to the Rincon salar. The ability to contract the rig and crew for the entirety of the drill campaign will ensure that drilling is completed in as short a timeframe as possible.
About the Salta Lithium Project
The Salta Project is strategically located in the Salta province in north-west Argentina and is part of the Lithium Triangle, the world’s leading lithium-brine region. The Project consists of five salares (salt lakes) that sit within seven mining leases, over a total project area of 147.07 sq. km.
The Project’s Incahuasi salar is located immediately adjacent to Ganfeng Lithium Co. Ltd’s project and the Rincon salar is adjacent to Rincon Mining Ltd, recently acquired by Rio Tinto Ltd for US$825 million. Power is focused on the accelerated exploration and development of the Project, to drive shareholder value.
