PERTH (miningweekly.com) – ASX-listed Argosy Minerals has reported a maiden inferred mineral resource of 207 957 t of contained lithium carbonate equivalent at its Rincon lithium project, in Argentina.
MD Jerko Zuvela said on Tuesday that the resource estimate would support production targets at Rincon, which Argosy was expected to report within the preliminary economic assessment, and along with additional drilling work would also enable future upgrades to the maiden Joint Ore Reserves Committee-compliant mineral resource.
“The resource estimate further validates the company’s fast-track development strategy to fully develop the Rincon lithium project toward commercial production. We are committed to building a sustainable lithium production company,” Zuvela said.
Argosy currently holds a 77.5% interest in the Rincon project, with the right to move to a 90% ownership in consideration for further funding to bring the project into large scale commercial production.
The company was targeting project development in the second half of 2019.