Recharge Resources Announces DDH1 Pocitos 1 Lithium Brine Project Samples 169ppm… – Press Release

VANCOUVER, British Columbia, Jan. 24, 2023 (GLOBE NEWSWIRE) — Recharge Resources Ltd. (“Recharge” or the “Company”) CSE OTC (SL5: Frankfurt) is pleased to announce the completion of DDH1 that intercepted the targeted brine aquifers and sampled 169 ppm lithium and flow rates similar to what was previously observed under its own pressure, constrained by a valve to preserve the well. The brines flowed for 10 days. The drill hole also intercepted gas (tested to have minor amounts of carbon dioxide) in a porous lithological unit that accelerated the brine flow.

Dec, 2022 Drilling at Pocitos 1
Fig 1. Dec, 2022 Drilling at Pocitos 1
2018 Drilling at Pocitos 1
Fig 2. 2018 Drilling at Pocitos 1
2018 Drilling at Pocitos 1

Fig 3. 2018 Drilling at Pocitos 1

The measured lithium content sampled in this recent 2022 drilling exceeded that of the measured lithium content of the 2018 discovery wells. This is another planned milestone in the Company’s endeavour to build up to a 20,000 tonne lithium extraction plant at Pocitos 1 Project in order to supply Richlink Capital Pty Ltd up to 20,000 tonnes of lithium chloride/carbonate per year as previously announced under letter of intent.

Lithium is selling in the spot market at 477,500 Yuan per tonne or the equivalent of US$70,755 per tonne according to (January 23rd, 2023)

Analysis completed by SGS del Argentina S.A. Salta Order No: SA22-00392

Collar Location: GK-POSGAR94-WGS84-Zone2
  UTM E:   700608.00  
  UTM N:   7291471.00  
  Altitude: 3,665M  

The brines were tested with a blank (distilled water), two duplicates and one standard at 268ppm Li. Another set of samples has been sent to Alex Stewart for testing by the QP, Phil Thomas. Packer testing for brines commenced at the 252M level, with core showing brines, but no flow was recorded. Significant brine flow was recorded at 342m and again at 363m. This is consistent with previous drilling results. The gas intrusion prohibited the drillers going below 363m as they were not able to get the water return.

DDH1 brine flow with gas being released
Fig 4. DDH1 brine flow with gas being released
Brine flowing from hole after it intersected aquifer