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Detail
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Source Material
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As of:
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Monday, 19 February 2018
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Project Overview
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AGY’s Rincon project is brine lithium (ie not hard rock lithium) within the Salar del Rincon in Salta Province, Argentina.
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Land area comprises up to 2,561.9ha, including binding option for Mina Tincal announced Nov 2017. Project land area comprises significant lithium and associated infrastructure services and mining easement right landholdings to be equiped for future Stg 3 development and commercial production.
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ANN 14-11-2017: Strategic Acquisition for Rincon Project https://www.asx.com.au/asxpdf/20171114/pdf/43p6fflj4bsyrz.pdf
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Evaporation ponds
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Stg 1: 1ha - concentrating since Apr 2017
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Stg 2.1: ~10ha - concentrating since Jan 2018
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ANN 20-12-2017: Rincon Update - Lithium Brine in Stage 2 Pondshttps://www.asx.com.au/asxpdf/20171220/pdf/43qb6q9f7nj301.pdf
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Stg 2.2: ~24ha
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Stg 3: Mina Romulo acquired in Aug 2017 specifically for Stg 3 development requirements. Stg 3 may entail up to ~300ha evap ponds and a large scale plant. Refer Third Party Agreements for additional information
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ANN 23-08-2017: More Ground for Rincon Lithium Projecthttps://www.asx.com.au/asxpdf/20170823/pdf/43ln7z8hl42z8r.pdf
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For a post on pond processes, see https://hotcopper.com.au/posts/31144681/single. Credit to @BytheHoarns,
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For satellite image of Stg1 and Stg 2 ponds taken 10-02-2018, see https://hotcopper.com.au/posts/31049614/single. Credit to @spinc
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LCE processing plants
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Targeting production of Battery Grade LCE in March/April 2018 in AGY owned and operated plant.
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Stg 1: Plant with 500 t/pa - fully owned industrial warehouse, including lab equipment for in-house analysis testing. Test processing in March, and first production of targeted BG LCE shortly there after. (Originally 150 t/pa for Stg 1 ponds, updated to 500 t/pa for inclusion of Stg 2.1 ponds).
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ANN 30-10-2017: Quarterly Report Sept 2017 (increased from 150 t/pa to 500 t/pa) https://www.asx.com.au/asxpdf/20171030/pdf/43nrck2jkwfrqj.pdf
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ANN 30-01-2018: Quarterly Activities Report - Dec 2017 https://www.asx.com.au/asxpdf/20180130/pdf/43r492d79wn3j0.pdf
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Stg 2: Plant with 1,500 t/pa - located at Olcapato (~31ha mining easement right), including processing brine from additional ~24ha Stg 2.2 ponds
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ANN 24-11-2017: Agrosy Moves to Complete Option Purchasehttps://www.asx.com.au/asxpdf/20171124/pdf/43pjv2p7pvxd07.pdf
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Stg 3: Mina Romulo acquired in Aug 2017 specifically for Stg 3 development requirements. Stg 3 may entail up to ~300ha evap ponds and a large scale plant.
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ANN 23-08-2017: More Ground for Rincon Lithium Projecthttps://www.asx.com.au/asxpdf/20170823/pdf/43ln7z8hl42z8r.pdf
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Exploration Diamond Drilling Program
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7 out of 8 holes completed to 102.5m (R1 - R5, R7, R8).
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ANN 13-02-2018: Rincon Project Drilling Updatehttps://www.asx.com.au/asxpdf/20180213/pdf/43rjq3wk69kg5q.pdf
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R6 in progress. Targeting 200m (currently at 70m)
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Production Well Drilling Program
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Well 1 completed Dec 2017 to 100m (located near R2 and pumping brine to Stg 2 ponds)
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ANN 13-02-2018: Rincon Project Drilling Updatehttps://www.asx.com.au/asxpdf/20180213/pdf/43rjq3wk69kg5q.pdf
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Well 2 completed to 36m (located near R1)
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Well 3 planned in vicinity of R4.
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Initial Exploration Results
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Results continue to reveal better than previously anticipated lithium content over a thicker brine-bearing zone, together with better average Mg/Li ratios from historical reference data. Avg results below:
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ANN 13-02-2018: Rincon Project Drilling Updatehttps://www.asx.com.au/asxpdf/20180213/pdf/43rjq3wk69kg5q.pdf
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R1: 385 mg/Li, 7.6 Mg/Li
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R2: 487 mg/Li, 4.3 Mg/Li
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R3: 229 mg/Li, 6.1 Mg/Li
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R4: 446 mg/Li, 8.2 Mg/Li
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R5: 267 mg/Li, 7.9 Mg/Li
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R6: not yet available
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R7: not yet available
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R8: 283 mg/Li, 7.6 Mg/Li
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Pablo Alurralde commented “The drilling results have confirmed greater brine bearing thickness and confirmation of a thick sequence of black sand in the Project area is very positive for future brine extraction requirements. Overall, our progress to date is extremely encouraging and I look forward to meeting our development milestones.”
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For a post on the formation of lithium-rich brines, see https://hotcopper.com.au/posts/31147891/single credit @Aussieplotz
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JORC
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Once completed, porosity data and systemic brine analysis will be used to complete resource estimate (JORC).
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ANN 13-02-2018: Rincon Project Drilling Updatehttps://www.asx.com.au/asxpdf/20180213/pdf/43rjq3wk69kg5q.pdf
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JORC will be produced during Q1 2018, once all drilling and sample testing and full set of lab analysis are complete.
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ANN 30-01-2018: Quarterly Activities Report - Dec 2017 https://www.asx.com.au/asxpdf/20180130/pdf/43r492d79wn3j0.pdf
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Preliminary Economic Assessment (PEA/Scoping Study)
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“Resource drilling has intersected very significant thicknesses of black sand beneath the surface halite layer, which is very positive for our upcoming JORC resource estimate and planned Preliminary Economic Assessment (PEA/Scoping Study). “
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ANN 13-02-2018: Rincon Project Drilling Updatehttps://www.asx.com.au/asxpdf/20180213/pdf/43rjq3wk69kg5q.pdf
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Project funding
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As of Jan 2018; fully funded to first production
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ANN 30-01-2018: Quarterly Activities Report - Dec 2017 https://www.asx.com.au/asxpdf/20180130/pdf/43r492d79wn3j0.pdf
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Off-Take Agreements
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As of Feb 19 2018 no off-take agreements have been announced (see Third Party Agreements)
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Third Party Agreements
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Continued discussion with Asian lithium battery sector companies, including potential for investment funding, off-take or other value-adding commercial agreements in consideration for Stg 3 development.
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ANN 30-01-2018: Quarterly Activities Report - Dec 2017 https://www.asx.com.au/asxpdf/20180130/pdf/43r492d79wn3j0.pdf
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Rainfall
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Weather station data available from Energi group site, located at the top (northern) edge of the Solar del Rincon: http://adyargentina.com.ar/rincon/
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https://hotcopper.com.au/posts/30953626/single, credit to @Cassandra
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“Mean Annual Precipitation 63mm (page 9-13)” sourced from “Review of four Lithium Exploration Properties in Argentina”
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31-12-2016 Review of four Lithium Exploration Properties in Argentinahttps://s21.q4cdn.com/429708605/files/doc_downloads/report-for-ni-43-101-dated-december-31st-2016.pdf , credit to @beachmat
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12-08-2017: Pocitos weather station (20k from Rincon and 400m lower elevation) rained 94.23mm over last 365 days
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https://hotcopper.com.au/posts/26461599/single, credit to @georgecostanza
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Evaporation Rate
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"The evaporation rate through November was excellent, with most days having clear blue skies and averaging ~10mm evaporation per day."
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ANN 20-12-2017: Rincon Update - Lithium Brine in Stage 2 Ponds https://www.asx.com.au/asxpdf/20171220/pdf/43qb6q9f7nj301.pdf
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12-08-2017: Average water evap rate of 8.4mm/day
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https://hotcopper.com.au/posts/26461599/single, credit to @georgecostanza
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