Power Minerals’ second drill hole at lithium salar produces ‘outstanding’ brine results

Power Minerals (ASX: PNN) reports that its second hole at the Rincon salar has reached the aquifer depth of 605m and produced brine samples that demonstrate “excellent” flow rate and high density.

Rincon one of its three salars (or salt flats) now under exploration at the company’s Salta lithium project in northwest Argentina.

The company says the second hole has been 100% successful in terms of packer testing and brine sampling.

It adds that the thickness and depth of the lithium brine aquifer confirm the “substantial” mineral resource potential at Rincon.

Rincon is Power’s most advanced salar within the Salta project, hosting an existing mineral resource and having the highest-grade lithium of the three.

The Salta project in the Salta province of Argentina consists of five salars within seven mining leases totalling 147,07 sq km.

Apart from Rincon, Power Minerals is developing the Incahuasi and Pocitos salars in parallel with the work at Rincon.

Brine samples indicate high grades

The Rincon drilling is planned to comprise three diamond core holes, which in turn is designed to increase the existing JORC mineral resource.

Final results are expected next month.

Drilling at the second hole is continuing and has reached the basement zone.

The company says brine samples have been taken from 18 double packer tests at selected intervals.

These have, in the company’s words, delivered excellent flow and high brine density results up to 1.22 kilograms per litre.

Preliminary economic assessment under way

The drill and brine results will be fed into the preliminary economic assessment which is currently under way.

The PEA is being undertaken by Golder Associates, which Power describes as being a global Tier-1 mining and engineering consulting firm. It is a division of New York-based engineering company WSP Global.

Golder Associates will be working in conjunction with Power’s partner, China’s Sunresin New Materials which has developed the direct lithium extraction (DLE) process.

Of the new drill result, managing director Mena Habib said it continues to confirm the mineral resource estimate potential at Salta.

“The thickness, depth, brine density and flow rate … enhance our geological understanding and provide significant confidence in our ability to expand the existing JORC mineral resource at Rincon,” he added.