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- Argosy Minerals (AGY) confirms its long-term pump tests at Rincon have successfully pumped brine from 350 metres in depth
- The company also believes that the total volume of brine it can produce is higher than previously thought
- An updated ore reserve and feasibility study are to follow
- The company began producing lithium carbonate earlier this year
- AGY shares last traded at 33.5 cents
Argosy Minerals (AGY) has confirmed its success in pumping tests to determine if the company could economically pump brine from a deep aquifer at its Rincon lithium project in Argentina.
The company also found hydraulic conductivity readings – a measure of how easily a liquid can pass through rock or sand – to be better than previously calculated 350 metres downhole.
Argosy first plugged its PRP-3 and PRP-4 deep brine production bores in late 2022 for long-term tests.
Both pumping bores are highly efficient, the company reported when using the step test pumping rates – PRP-3 boasts an efficiency of 96.5 per cent while PRP-4 clocked 94.5 per cent.
Geotechs discovered that the deep sediments the company is targeting function as an aquifer and that conditions are right for extraction of brine to likely be greater than first thought.
Results of the tests will be used to inform an updated brine ore reserve estimate, to be followed by an updated feasibility study.
Back in March, Argosy kicked off lithium carbonate production at Rincon, saying at the time it had already produced 5.1 tonnes of battery-ready material.
Argosy Minerals shares last traded at 33.5 cents.
