Argosy Minerals (ASX: AGY)
Provided an update on key developments at their Rincon Lithium Project.
2,000tpa operation works progressing, and comprehensive test works being conducted to determine optimum operational.
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Argosy Minerals Rincon Project Vista, Salta, Argentina
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| Argosy Minerals | ASX: AGY |
| Stage | Production |
| Metals | Lithium (77.5% of the project) |
| Market cap | A$175 m @ 12.5 c |
| Location | Salta, Argentina, Nevada, USA |
Argosy Minerals Rincon Lithium Project Update and Progress Report
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Argosy Minerals Limited (ASX: AGY) (“Argosy” or “Company”) is pleased to provide the
following update on key developments at our Rincon Lithium Project.
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HIGHLIGHTS
- 2,000tpa operation works progressing;
- Comprehensive test works being conducted to determine optimum operational
parameters and improve filtration rates - Planned critical works schedule to improve operational performance and
increase production operations - EIA approval for 10,000tpa operation expansion awaited
- Resource expansion upgrade being finalised
2,000tpa Lithium Carbonate Operations
The Company continues to progress operational works at the 2,000tpa lithium carbonate facility targeting continuous production operations.
The main focus of works remains on the primary solids filtration circuit, aiming to improve filtration rates. Following delivery and installation of new filter cloths, comprehensive test-works are currently being conducted, including flowrate variation and filter press plate configuration to assess the operability of the new cloths.
The Company aims to determine the optimum operational parameters and achieve
consistent and repeatable results during this test phase to then progress to ramping up
production operations. In addition, receipt of ancillary parts and equipment for chemical
preparation area modification works is being carried out whilst awaiting additional
components to complete the remaining scheduled work plan.
The Company will continue its planned critical works schedule to improve the performance of the 2,000tpa facility, with a target to increase production operations during Q1-CY2024.
Production output remains constrained whilst implementing the rectification works and
testing program. The Company has completed the current-cycle pond harvesting works,
allowing increased pond utilisation and increasing production of concentrated lithium brine.
10,000tpa Environmental Impact Assessment Process
The Company has made significant progress toward finalising the EIA process, with final updated hydrogeological data observations provided to the Mining Secretary’s department.
Following this and recent dialogue with the Mining Secretary and key Salta government
officials, official approval from the Mining Secretary is expected.
Resource Expansion Upgrade
The Company completed its resource expansion exploration diamond drilling works program, received all laboratory results, and with our independent hydrogeologist, who is finalising the technical report for the upgraded brine Mineral Resource Estimate.
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10,000tpa Operation Expansion Pre-Development Works
The Company is continuing to progress applicable pre-development works for the 10,000tpa operation expansion, including process design reviews, evaporation pond design and engineering, industrial water drilling operations, EPCM service provider engagement, with the aim of a seamless progression into the development phase of the 10,000tpa facility (upon receipt of the EIA regulatory approval).
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Argosy Managing Director, Jerko Zuvela said,
“The Company is advancing its priority works to achieve continuous production operations at our 2,000tpa lithium carbonate operation.
“In addition, significant progress has been made with the EIA approval, with an outcome
expected shortly, whilst the resource expansion upgrade is ready and awaiting completion of the technical report.“The Company is working toward finalising upcoming significant milestones that will support Argosy’s ambitions and near-term growth phase to fully develop the Rincon Lithium Project.”
To read the full news release, please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds no hares in Argosy Minerals.
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