Ann: LITHIUM BRINE PUMPING COMPLETED & CONCENTRATION PROGRESSING, page-36

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Argosy Minerals continues positive re-rating on road to lithium production




23:30 25 Apr 2017

The Rincon Lithium JV Project is located in Argentina
Argosy Minerals (ASX:AGY) has been a stand-out performer in a stand-out sector, as the company continues to advance the Rincon Lithium JV Project, which is located in the “Lithium Triangle” in Salta Province, Argentina.Shares in the company opened another 4% higher in morning trade at $0.074, or around three times their valuation from just eight-weeks ago.
Argosy has outlined further progress on its Stage 1 development works to produce a laboratory scale quantity of lithium carbonate equivalent (LCE).

The company recently completed the pumping of lithium brine into its initial evaporation ponds, comprising four separate ponds totalling an area of 1.25 hectares.
The lithium brine in these ponds is now undergoing natural solar evaporation to progress through the lithium brine concentration process.
This will take circa nine months.

Jerko Zuvela, managing director, commented: "Argosy continues to accomplish
significant development milestones as we continue our aggressive development strategy to fast-track toward production of LCE product.
"We are right on track to becoming a sustainable lithium production company."

Next steps
The company is also planning construction of additional evaporation ponds for Stage 1 development, which includes a works plan and equipment schedule, budget, and timeframe for this work.
As part of these works, Argosy will include the provision for early commencement of Stage 2 development works, pending advancement of discussions with the MOU parties from the Chinese lithium battery sector.

Rincon Lithium Project
Argosy is earning up to a 90% interest through multiple stages in the Rincon joint venture lithium project.
Argosy will earn a 50% interest by completing its proposed Stage 1 work schedule:
- Environmental studies and regulatory approvals/permits (December quarter 2016);
- Pond construction and associated works, including contractor tendering (March quarter 2017);
- Pond lining and associated works (June quarter 2017);
- Brine extraction, pumping, storage and transportation works (September quarter 2017);
- Pilot plant construction and test-work (December quarter 2017); and
- Pending success of the Stage 1 development, product LCE product (March quarter 2018).
Argosy will consider commencing Stage 2 development works with an aim to produce a larger quantity of LCE product targeting up to 1,500 tonnes per annum.