Ann: Argosy confirms first batch of LCE produced, page-6

ASX ANNOUNCEMENT
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Argosy Minerals Limited
ACN 073 391 189
Level 3, 216 St Georges Terrace, Perth, WA 6000
PO Box 7054, Cloisters Square, Perth, WA 6850
Ph: (08) 6188 8181 Fax: (08) 6188 8182
5 June 2018
ARGOSY CONFIRMS FIRST BATCH OF LCE PRODUCED
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HIGHLIGHTS First LCE product achieved from Argosy’s Rincon Lithium Project Works continuing to realise the principal Stage 1 milestone – a scalable, cost effective chemical process solution to produce consistent battery grade LCE product for all development stages Progressing with Stage 1 LCE product off-take agreement with international major JORC Resource estimate work nearing completion
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Argosy Minerals Limited (ASX: AGY) (“Argosy” or “Company”) is pleased to announce the first batch of lithium carbonate (“LCE”) has been produced from the Stage 1 industrial scale pilot plant, representing a significant milestone for the Rincon Lithium Project, located in Salta Province, Argentina.
A sample of the first one kilogram production batch was tested in the Company’s lab co-located at the Stage 1 industrial scale pilot plant and determined to be a good quality ‘industrial grade’ LCE. Importantly, key deleterious elements for battery grade such as Mg, SO4 and metallic impurities were within acceptable specification ranges, which Argosy will have independently tested by a third-party lab to confirm its internal results. The key issue determining the tested batch to be industrial grade vs. battery grade was the presence of certain soluble impurities. These would usually be removed by the ‘washing’ stage but that stage is not yet fully functional in the plant because the stage prior requires a high heat, and Argosy is still awaiting a natural gas supply for the plant to provide such temperature. The plant is physically connected to the local mains gas network but the Company is waiting for local bureaucratic approval to switch on the supply, to then continue full processing works to produce the battery grade material.
The product quality and process test-works phase completed to date provides confirmation for the Company to produce consistent product to meet potential customer requirements of battery grade LCE product specification, and the Company will continue processing works to prepare these customer samples for their own quality confirmation and testing, and then for subsequent initial commercial sales.
Following on from the milestone announced today, the Company will continue works to realise the principal Stage 1 milestone – a scalable, cost effective chemical process solution to produce consistent battery grade LCE product for all development stages. Once the gas supply is available and such process works are conducted, Argosy expects to be in a position to instigate steady-state plant operations for delivering into future Stage 1 sales arrangements.
ASX ANNOUNCEMENT
Page 2 of 3
Argosy Minerals Limited
ACN 073 391 189
Level 3, 216 St Georges Terrace, Perth, WA 6000
PO Box 7054, Cloisters Square, Perth, WA 6850
Ph: (08) 6188 8181 Fax: (08) 6188 8182
Argosy Managing Director, Jerko Zuvela said “We are delighted at this significant milestone, noting the historical magnitude of this achievement and the fast-track strategy the Company deployed to attain this landmark development.
The momentous effort, technical expertise and knowledge required to achieve this initial milestone is extraordinary, and I thank the whole Puna and Argosy team for their commitment and dedication.”
In addition, the Company is nearing completion of works to produce a Resource estimate for the Rincon Lithium Project - to be reported in accordance with JORC 2012 requirements, is progressing on works to prepare the Preliminary Economic Assessment, and progressing with a major international group on the Stage 1 off-take agreement.
ENDS
For more information on Argosy Minerals Limited and to subscribe for regular updates, please visit our website at www.argosyminerals.com.au or contact us via [email protected] or Twitter @ArgosyMinerals.
For further information:
Jerko Zuvela
Managing Director
T | +61 8 6188 8181
E | [email protected]
W| www.argosyminerals.com.au
Forward Looking Statements: Statements regarding plans with respect to the Company’s mineral properties are forward looking statements. There can be no assurance that the Company’s plans for development of its mineral properties will proceed as expected. There can be no assurance that the Company will be able to confirm the presence of mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company’s mineral properties.
ABOUT ARGOSY MINERALS LIMITED
Argosy Minerals Limited (ASX: AGY) is an Australian company with a current 77.5% interest in the Rincon Lithium Project in Salta Province, Argentina.
The Company is focused on its flagship Rincon Lithium Project – potentially a game-changing proposition given its location within the world renowned “Lithium Triangle” – host to the world’s largest lithium resources, and its fast-track development strategy toward production of LCE product.
Argosy is committed to building a sustainable lithium production company, highly leveraged to the forecast growth in the lithium-ion battery sector.
Appendix 1: AGY’s Argentina Project Location Map
ASX ANNOUNCEMENT
Page 3 of 3
Argosy Minerals Limited
ACN 073 391 189
Level 3, 216 St Georges Terrace, Perth, WA 6000
PO Box 7054, Cloisters Square, Perth, WA 6850
Ph: (08) 6188 8181 Fax: (08) 6188 8182