- Power Minerals (PNN) prepares for mineral resource definition drilling at its Salta lithium project in north-west Argentina
- The company has planned up to six diamond drill holes at Rincon salar to begin in the current quarter, once drilling at its first target wraps up
- The upcoming work is aimed at confirming results from previous drilling in 2017 and will test for additional lithium brine resources in the northern part of the licence area
- PNN says the drilling and planned resource upgrade will feed into a preliminary economic assessment at Rincon, which is currently underway
- PNN shares were up 1.77 per cent, trading at 57.5 cents at 1:15 pm AEDT
Power Minerals (PNN) is preparing for mineral resource definition drilling at its Salta lithium project in north-west Argentina.
The company has planned to drill between four and six diamond holes for 1200 metres at Rincon salar this quarter, once drilling at the first target, Incahuasi salar, wraps up.
The upcoming work is aimed at confirming results from previous drilling in 2017 and to test for additional potential lithium brine resources in the northern part of the licence area.
Power Minerals said this drilling and the planned resource upgrade will feed in to a preliminary economic assessment (PEA) at Rincon, which is currently underway.
The PEA is assessing the production and life-of-mine profile, along with engineering and process costs, plus capital and operating costs for a potential high-quality lithium carbonate producing operation at Rincon. The assessment is being conducted by global engineering and mining consultants, Golder Associates.
Power Minerals Executive Director, Mena Habib said the company is delighted with the progress of the mineral resource definition drilling program.
“Drilling at our first target, the Incahuasi salar, is weeks away from completion and we are certainly encouraged by the samples being delivered.
“With the PEA at Rincon underway, we are excited to see the results of the Rincon mineral
resource drilling feed into the PEA.
“We plan to complete PEA’s on the Rincon, Incahuasi and Pocitos salares, as part of our plans to fast-track the project’s development,” Mr Habib said.
PNN shares were up 1.77 per cent, trading at 57.5 cents at 1:15 pm AEDT.