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Argentina Lithium & Energy Corp. (LIT.V) has announced an aggressive exploration strategy for 2024, following a significant financing deal with Peugeot Citroen Argentina S.A., a Stellantis N.V. subsidiary. The company aims to complete up to 30 drill holes at the Antofalla North project, rapidly progressing towards resource delineation after its Rincon West project’s success, where 11 of 20 exploration drill holes are currently in progress.
Miles Rideout, the VP of Exploration, highlighted the success at Rincon West in discovering lithium-rich brines and the strategic assembly of the Antofalla North property. Funded by Stellantis, the company is set to expedite the Antofalla project, with geophysics indicating promising conductive units.
The exploration program also extends to Pocitos and Incahuasi projects, with a 40% increase in the planned TEM surveying at Pocitos. CEO Nikolaos Cacos anticipates a transformative year ahead, with up to fifteen million dollars in exploration funding poised to advance the company’s primary projects.
Rincon West Project
The company has initiated a new 5-hole drill program at Rinconcita II and is awaiting permits for the Paso de Sico property. Successful drilling will lead to rotary wells and pump tests to support a mineral resource estimate.
Antofalla North Project
With 110 line-km of TEM geophysics planned, Argentina Lithium is preparing to drill initial reconnaissance holes at Antofalla North, with further drilling contingent on positive results.
Pocitos and Incahuasi Projects
A geophysics crew is set to conduct TEM surveys at Pocitos, with an expanded survey to follow at Incahuasi.
Frits Reidel, CPG, has reviewed and approved the disclosure in this news release. Argentina Lithium & Energy Corp, backed by Stellantis’s strategic investment, is well-positioned to develop its lithium projects in Argentina’s Lithium Triangle.
This news release contains forward-looking statements subject to risks and uncertainties. Readers should refer to the company’s public disclosure documents for a detailed discussion of potential impacts on the company’s future.
Company Website: https://argentinalithium.com
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