Recharge Resources Intercepts First Lithium Brine Aquifer In Well 1 At Pocitos 1 Lithium Salar

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[{"type":"text","content":" Vancouver, BC, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Recharge Resources Ltd. (“Recharge” or the “Company”) (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) is pleased to announce the Company has intercepted an aquifer that surged at 325m depth in its NQ diameter exploration well at its ongoing production diameter well drill program at the “Pocitos 1” Salar Lithium Brine Project in Salta, Argentina. Drilling will continue through the target production zones down to 425 meters. This is another planned milestone in Recharge’s endeavour to establish a NI 43-101 compliant resource and build up to a 20,000 tonne per year EkoSolve™ lithium extraction plant at Pocitos 1 in order to supply Richlink Capital Pty Ltd clients up to 20,000 tonnes of lithium per year as previously announced under a letter of intent and framework agreement. Lithium is selling in the spot market at 577,500 Yuan per tonne or the equivalent of US$82,209 per tonne according to TradingEconomics.com. (December 5th, 2022) The brine flow from 325m was captured and four samples taken – one for analysis at two different labs and two as duplicates. AIS Resources encountered significant brine flow from multiple aquifers from 350m down to 410 meters in their hole 400m away in 2018 and the highest surge was at 407 metres which our drillers will pass through over the next few days.   They are currently at 357m (4th Dec). The geologists are preparing for a packer test to sample more brine from this level before they proceed. Fig 1. Brine Sample to be shipped Fig 2. Ongoing drilling at Pocitos 1 The drill has a specially designed surge mechanism to contain the surge from aquifer head pressure and so damage is not done to the side walls of the well. The lithology encountered so far was brown clays however at 165m the clays increased substantially in moisture indicating a possible aquifer. A packer test to recover brine was performed but did not yield a brine flow. Core recovery has been more than 95%. Once the analysis and pump tests have been completed by our QP and geologists, the location of the next four wells will be decided to maximize brine flow. The Drillers have been contracted for a minimum of 1,600m and engaged for all of 2023. Once the exploration wells are completed, and a resource computed, we will bring in a much larger rig and start to increase the diameter o...

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