Recharge Resources Completes Acquisition of Pocitos 1 Lithium Brine Project and Provides Progress Overview in Advance of NI 43-101 Resource Estimate

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[{"type":"text","content":"Vancouver, BC - TheNewswire - October 4, 2023 - Recharge Resources Ltd. (\"Recharge\" or the \"Company\") (RR:CSE) (RECHF:OTC) (SL5:Frankfurt) is pleased to provide the following update on the company’s Pocitos One Lithium Brine Project (“Pocitos 1” or “the project”) in Salta, Argentina. Acquisition of 100% interest in Pocitos 1 As announced on August 15th, 2023 the company entered in to an agreement to  acquire a 100% interest in the 800 Has Pocitos 1 Lithium Brine Project free of royalty payments previously contemplated under the company’s Spey Resources option agreement. The company is pleased to announce the Pocitos 1 exploration licence was paid for and the public deed noting the transfer of ownership to the company’s 100% owned subsidiary Recharge Resources Argentina S.A.U. has been signed by all parties, notarised and lodged with the Mining Court in Salta, Argentina. All canon payments were up-to-date for ownership transfer to Recharge. WSP Engagement for NI 43-101 Resource Estimate As announced on July 24th, 2023 the Company engaged WSP Australia Pty Ltd (“WSP”) to prepare a NI 43-101 resource estimate at Pocitos 1. WSP is a leading global consultancy with more than 67,000 professionals and consultants with expertise in hydrology and brine resource estimates. WSP will utilize information gathered from the NI 43-101 technical report dated 30 June 2023 completed by Panopus Pte Ltd and the May 2023 MT Survey, 2018 TEM survey, drilling programs, core logs and core porosity data to prepare the Resource Estimate. The company is currently waiting on 2018 core logging, sampling depths and  interpretation of its porosity data in order for the resource estimate to be completed by WSP. WSP has relevant experience with lithium projects and fellow listed publicly traded lithium and critical element companies, including but not limited to: Table 1. Relevant Lithium Clients of WSP – Market Caps as of July 21, 2023 Richlink Offtake Letter of Intent (LOI) Recharge announced in September 30th, 2022 that the company had executed a Letter of Intent (the “LOI”) with Richlink Capital Pty Ltd. (“Richlink”) for the supply of a minimum of 10,000 up to 20,000 tonnes annually of lithium chloride or, at Richlink’s discretion, lithium carbonate to two of their clients in China. Furthermore the letter of intent established that once a ...

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