공시 • Sep 29
Power Minerals Limited Announces Incahuasi Geophysics Identifies Potential Additional Brine
Power Minerals Limited announced positive results from its recently completed Vertical Electrical Sounding (VES) geophysical survey at the Incahuasi salar, at the Company's Salta Lithium Project in the lithium triangle of north-west Argentina. The VES survey at Incahuasi was conducted over 28 geophysics stations. Interpretation of the results indicate that concentrated brines occur to at least 250 meters depth below the surface, with salar basement estimated at ~400-450 meters depth. The VES survey results also indicate continuity of concentrated brine in saturated hydrostratigraphic units, extending under and below the alluvial fan aprons on the eastern side of the license area away from the active salar. This highlights the resource expansion potential in this yet to be drill tested area of the licence. Following the successful Incahuasi geophysical program, VES surveys are progressing on the Rincon and Pocitos salares. VES geophysical surveys play an important role in supporting Power's near-term resource drilling programs and water management plans, which will input to environmental studies and approvals for the proposed future development of the Salta Project. Power is focused on expanding the JORC Mineral Resource base at its Salta Project. VES geophysical surveys are useful for delineation of the concentrated brine and fresh water interface at the boundaries of the Incahuasi salar. This delineation may add potential new lithium resources under alluvial fans adjacent to the active salar. The VES survey also assessed the potential for near-surface fresh or brackish water aquifers in the alluvial fans. The VES survey results were interpreted relative to a previous Transient Electromagnetic (TEM) geophysical survey conducted by Quantec Geoscience at the Incahuasi salar (ASX announcements, 21 November and 24 December 2018). Interpretation by both geophysical consultants indicate that concentrated brines occur to at least 250 metres depth below the surface, with salar basement estimated at ~400-450 metres depth. Importantly, the VES survey results indicate continuity of concentrated brine in saturated hydrostratigraphic units to extend under and below the alluvial fan aprons on the eastern side of the Incahuasi salar away from the active salar. Importantly, the results of the VES geophysical program, in conjunction with the upcoming resource definition drilling will aim to justify and confirm the geological and hydrological model that the brine resource estimation may extend east beyond the surface limits of the active salar. The Incahuasi VES survey was undertaken by Mercoaguas - Hydrogeology and Environmental Services, a Salta-based contractor specialising in geophysics, hydrology and environmental surveys, with significant experience and expertise in the geology, geomorphology and hydrology of the Puna region, Argentina. The VES interpretation will be utilised to support Power's upcoming resource definition drilling at the Incahuasi salar, located immediately adjacent to Ganfeng Lithium Co. Ltd.'s lithium brine project (ASX announcement, 27 June 2022). Drilling is scheduled to commence at Incahuasi in the immediate future. This drilling is planned to consist of two diamond drill holes for a total of 1,000m, with discretion for possible additional holes in the alluvial fan area. The program is designed to deliver a maiden JORC Mineral Resource at the Incahuasi salar, which will add to the existing total Mineral Resource at the Salta Project (ASX announcements, 23 January 2019 and 27 June 2018). Immediately following the Incahuasi program, the drilling rig is scheduled and contracted to move to the Pocitos salar and then Rincon salar for lithium brine resource drilling. Salta Project - Next Steps: Complete resource drilling and define an initial JORC lithium brine Mineral Resource estimate at Incahuasi salar. Completion and interpretation of VES geophysical surveys at the Pocitos and Rincon salares, to support additional lithium brine resource definition drilling. Based on the results of the VES surveys at Pocitos and Rincon North, lithium brine resource drilling is next scheduled at the Pocitos salar, which is strategically located adjacent to rail and road infrastructure, a gas pipeline, and the Pocitos community. Drilling is also planned for Rincon South, to deepen or twin previous drill holes to ~400m depth, and possibly at Rincon North with the aim of adding to the existing resource at Rincon (ASX announcement, 26 June 2018). Conduct industrial and freshwater drilling; and water purification studies as input to DLE test work and DLE Pilot Plant studies for each salar and blended brines. Once Sunresin has tested the Salta brines utilising its DLE technology, the parties plan to move to complete a Preliminary Economic Assessment (PEA) for DLE at the Salta Project (subject to results). Solar power studies, especially modular units, to support DLE Pilot Plant processing. Progress Power's MoU with the global lithium supply chain group Xiamen Xiangyu. Under this MoU, Power and Xiamen Xiangyu plan to enter into negotiations with a view to executing a binding off- take, funding and logistics agreement. Corporate activity on evaluating investment in additional lithium brine licenses that complement the current asset base of Power's Salta Lithium Project.
