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- C29 Metals (C29) begins drilling for lithium at its Pocitos 7 exploration licence in the Salta province of Argentina
- The company intends to drill a minimum of two drill holes to test a large acquifier hosting target lithium-charged brines which was identified during previous geophysical work
- Once drilling is complete, C29 expects to have enough data to form the basis of an initial mineral resource estimate at Pocitos 7
- Director Jeremy King says the opportunity to rapidly establish a resource at the project is part of a wider drive to create a significant lithium operation
- Shares in C29 last traded at 19.5 cents on January 18
C29 Metals (C29) has begun drilling for lithium at its Pocitos 7 exploration licence in the Salta province of Argentina.
The company completed geophysical work at Pocitos 7 which highlighted the potential for a large acquifer hosting target lithium-charged brines.
Now, a minimum of two drill holes have been planned to test this target and establish the presence of brines and the aquifer profile.
Once drilling is completed, C29 expects to have enough data to form the basis of an initial mineral resource estimate at Pocitos 7.
The company’s Director, Jeremy King, said the opportunity to rapidly establish a meaningful resource at this project is part of a wider drive to create a significant lithium operation.
C29’s exploration licence is located in the heart of the lithium triangle, which according to C29, is estimated to contain 75 per cent of the world’s lithium supply.
Additionally, the area has logistical infrastructure in place including power, gas transmission and all-weather roads, which Mr King said provides important foundations to enable the company’s desired outcome of a lithium operation.
Shares in C29 last traded at 19.5 cents on January 18.
