Join our daily newsletter At The Bell to receive exclusive market insights
- Argosy Minerals (AGY) spent the three months to June progressing its North and South American lithium projects ahead of targeted production next year
- The company’s Rincon Project in Argentina is in the construction phase, while the Tonopah Lithium Project in Nevada is under exploration
- The company is awaiting the results of its Environmental Impact Assessment for Rincon, which it expects to receive later this year
- Results from exploration surveys at its Nevada project are also pending
- Argosy Minerals shares are trading in the grey at 12.5 cents at 1:20 pm AEST
Argosy Minerals (AGY) spent the three months to June progressing its North and South American lithium projects ahead of targeted production next year.
Progress at the company’s flagship Rincon Lithium Project in Argentina is said to be on schedule and 26 per cent completed.
The project is held in a joint venture partnership with Pablo Alurralde, of which AGY owns a 77.5 per cent interest and can earn up to 90 per cent.
Argosy described the current stage of works as the construction phase, which includes developing a process plant, installations earthworks, site construction and expansion of its brine system.
The company is awaiting the results of its Environmental Impact Assessment for the project, for which it expects to receive approval this year.
Argosy has also laid plans for a resource expansion drilling program at the site in a bid to increase its JORC mineral resource estimate.
The ASX-lister’s Tonopah Lithium Project in the US state of Nevada is in its earlier stages, with results pending from a recently completed magnetotelluric resistivity survey.
Results from the survey are hoped to provide a greater understanding of the geological structure in the area and potentially locate lithium brine trap targets.
From there Argosy said it could consider a potential drilling program.
Argosy Minerals shares are trading in the grey at 12.5 cents at 1:20 pm AEST.
