Xantippe Resources Ltd (ASX:XTC, OTC:XTCPF) has identified a potentially large lithium-bearing brine zone during a geophysical survey at its Carachi Project in the lithium-rich province of Catamarca, Argentina.
The company recently completed a vertical electrical sounding (VES) survey covering about 300 square kilometres of the salar which has common geologic features with other lithium-rich salars in the region.
A conductive horizon was detected clearly in the majority of the VES stations covering about 130 square kilometres.
The zone has been interpreted as a buried salar deposit with highly conductive saline brine aquifer of less than 2 ohm/m at 34 to 220 metres below surface and is at least 150 metres thick.
This zone is open at depth and in all directions laterally.
Interpreted west-east section through the project area.
Moving with confidence
“The company is very pleased with these positive results and moves forward with great confidence to the next phase of exploration, our first drilling program," Xantippe executive chairman John Featherby said. "The aim is to use this drilling program to provide an initial JORC-compliant mineral resource estimate.
“The next phase of exploration at Carachi will involve exploration drilling. The company has submitted the environmental impact assessment (EIA) necessary to obtain the permits.
"The mining authority is in the process of evaluating the EIA for a program consisting of 3,550 metres of exploration core holes to sample and characterise the target aquifer - four holes of 400 metres in the south part, one of 500 metres in the central portion of the project and one of up to 950 metres in the north - and one 500-metre pumpable well in the southwest portion of the claim area.
“The drilling program will commence as soon as the permits are granted.”
In the heart of Lithium Triangle
Carachi Project is in Catamarca Province, Argentina, which is inside the world-renowned lithium triangle in South America covering Argentina, Chile and Bolivia.
The project, which comprises 21,900 hectares, is 40 kilometres south of the town of Antofagasta (LON:ANTO) de la Sierra, Catamarca, at an elevation of about 3,000 metres.
This region of Argentina includes the Hombre Muerto Salar, where a US$840 million lithium mine is under development by South Korean steel-making company POSCO and where Livent Corp has been producing lithium in the southwest part of Hombre Muerto for more than 25 years.
It is also where Lake Resources’ Kachi Lithium Project is well advanced in the development stage.
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