Initial JORC Resource for PepinNini Lithium in Salta, Argentina

By Meagan Evans. Published at Jun 27, 2018, in Juniors

Up and coming ASX lithium junior, PepinNini Lithium Ltd (ASX:PNN) has today reported an initial lithium and potassium Resource for its Rincon Lithium Brine Project in the Salta province of Argentina, within the Lithium Triangle of South America.

The JORC 2012 Resource includes 60,000 tonnes of lithium carbonate (Li2CO3) equivalent (LCE) and 270,000 tonnes of potash (KCl) equivalent in the Measured and Indicated Resource categories, with an additional 6,000 tonnes of Li2CO3 and 26,000 tonnes KCl in the Inferred Resource category.

Rincon Project Brine Resource:

The Resource is defined over a 2.54 square kilometre footprint using results from core drilling and depth-specific packer sampling. The initial measured, indicated, and inferred Resource was derived from exploration boreholes, totalling 210 metres of core drilling.

Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.

Drilling and construction were conducted during December 2017. Locations for the Rincon exploration wells are shown on the map below. The diamond drilling program included drilling two vertical coreholes using a diamond core rig to total depths of 80 and 130 meters.

The dominant hydrologic unit encountered during drilling for the Salar del Rincon project was a very weakly consolidated black volcanic sand. The sand dominates the drainable brine Resource, and the lithium and potassium Resource contained in the brine. From this, PNN anticipate the transmissivity of future wells completed in this unit would be favourable for extracting brine.

A pumping well is planned for the project to provide additional data on lithium grade and test recharge rates of the brine. An upgraded Resource would then be calculated.

PNN Managing Director, Rebecca Holland-Kennedy commented, “We are very excited to see an initial JORC Resource estimate from our hydrogeological consultants. The company now has a first defined Resource estimate in place for our Lithium Project which given the current price of LCE it is a valuable Resource. It forms the basis for subsequent Resources estimates from our other projects to allow us to continue to advance to the next level of development for lithium production.”

While PNN is focused on exploring and developing a lithium brine Resource and production project at Rincon, it also holds a copper-gold exploration project in Salta Province, as well as strategically located exploration tenements in the Musgrave Province of South Australia.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Facebook
Twitter
LinkedIn