C29 Metals Ltd (ASX:C29) has started resource definition drilling at its Pocitos 7 project in Argentina’s Salta Province, part of the world-renowned South American Lithium Triangle which contains 75% of the world’s lithium supply.
The explorer aims to drill at least two holes under the program designed to test a potentially large aquifer identified by geophysical work as hosting lithium-charged brines.
Data from these holes are expected to form the basis of an initial JORC-compliant mineral resource estimate at Pocitos 7.
The proposed locations of the two drill holes at Pocitos 7, with the interpretation of the geophysical work overlain.
Creating opportunity
“We are extremely pleased to kick off proceedings at Pocitos 7,” C29 director Jeremy King said.
“The company has the opportunity to rapidly establish a meaningful resource at this salar as part of a wider drive to create a significant lithium operation.
“Local lithium logistics and services infrastructure provide important foundations to enable such an outcome.”
Drill crew commencing operations at Hole 1 on Pocitos 7.
Low-cost producer
In October 2022, C29 secured an option to acquire two highly prospective lithium-bearing projects within the Pocitos salar in the mining-friendly Salta Province.
The project is close to established infrastructure, including power, gas transmission and all-weather roads allowing transport of refined lithium carbonate through a major port.
The company believes the Pocitos project has the potential to become a long-life, low-cost producer of battery-grade lithium carbonate using direct extraction technology such as Ekosolve™.
These direct extraction methods are considered superior to older solar evaporation methods as they eliminate the need for solar evaporation ponds, resulting in a considerably smaller capital input and a positive water balance that returns waters to the salar.
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