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C29 hit Argentine brine

7 February 2023 11:46
ASX: C29

C29 Metals are making good on the Lithium Triangle’s promise and have intercepted an over thirty-metre brine aquifer zone from maiden drilling at its Pocitos 7 project in Argentina.

It marks another success as the explorer moves on swiftly bringing in a maiden resource from C29 territory in the area estimated to hold more than half of the world’s lithium reserves.

And the drill hole was able to pump at a whopping two thousand litres per hour through a 49mm pipe with a submersible pump hitting a deep aquifer from 370 – 400 metres.

The company is already planning a second hole that may be accompanied by an audio telluric geophysics survey that will penetrate to a depth of 500 metres to ensure that DDH2 is optimally located in the hopes to build a mineral resource estimate.

Perched within South America’s legendary lithium triangle, Pocitos 7 will be a lithium project to watch as C29 plans to use cutting-edge technology lithium extraction Ekosolve technology to get high-quality lithium to the market faster than its competitors and hit the market as close as two to three years away.

One of the several brine samples collected over a three-hour pumping period was sent to the University of Melbourne for testing using Ekosolve, with other samples sent to labs in Selta for assays, with results expected within the fortnight.

The company said its team is now working on conducting SG measurements of the brines while it waits for laboratory analysis.

“Subject to those results, we intend to continue our exploration program with a view to rapidly establishing a mineral resource estimate at Pocitos 7,” director Jeremy King said.

“We are extremely pleased to intercept brines and have hit a 30m plus aquifer zone at Pocitos 7 and have such a healthy pump rate particularly given the size of the pipe and pump utilised.”

C29’s Australian Stock Exchange-listed share price has risen 33.33 per cent today, currently selling at 26c (11.30 am UTC+ 8 hours).

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