Vancouver, BC – June 23, 2023 – Recharge Resources Ltd. (“Recharge” or the “Company”) (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) is pleased to report that the previously announced Ekosolve™ Lithium Solvent Exchange Extraction process has been able to extract 94.9% of the lithium (“Li”) from the brines provided from the company’s 2022 DDH3 drill program at the Pocitos 1 lithium brine project located in Salta, Argentina.
The highlights are:
- Ekosolve DLE Extraction technology pilot plant tested at the University of Melbourne achieved 94.9% extraction efficiency with brines at average lithium concentration of 86 ppm LI
- Lithium recovered from 85.08 ppm Li in brine was 80.76 ppm LI
- The result is slightly better than previous brines tested and second highest recovery recorded
- Lithium chloride salt production is the next stage of processing, as potential offtake partners of Richlink has indicated their preference for Lithium Chloride.
- Brines sampled by the packet test at 363m recorded 169ppm LI.
- The company will start a new drill/production well program when the permits are issued by Salta Mines Department.
Associate Professor Dr. Kathryn Mumford from the University of Melbourne commented “This result is consistent with other brines tested from the Pozuelos salar. It demonstrates that the extraction organic solvents have good extractability for the lithium in the salt lake brines from Pocitos salar.”
The average of brines tested during packer tests were 161ppm Li at 363m depth and the maximum value was 169ppm Li (refer to press release dated January 5, 2023).
Testing of efficiency for separating and purifying lithium and the removal of cations was conducted, with boron, calcium, potassium and magnesium extracted to the solvents and sodium stripped into the brine.
Learn more about the Ekosolve™ process on Recharge’s website here https://recharge-resources.com/technology/
CEO David Greenway commented:
“We are delighted with the Ekosolve pilot plant test work results that demonstrates the potential viability of this project with 94.9% recovery of the brine, that implies it will be economic at higher lithium concentrations and we will not lose lithium due to sequences of low concentrations in the brine. The technical team will continue to advance the project with the MT geophysics compiled report when received in the next few weeks, and a drilling program where we can deliver an indicated and measured resource. WSP are currently examining the porosity results from the 2018 campaign with the view to including them in our NI 43-101resource estimate.”
The results of the Magnetotelleric (“MT”) survey were excellent and our technical team is working on the next round of drill targets to the western side of the Pocitos 1 concession.
Ekosolve™ pre-engineering studies have previously shown that providing brine flow is in excess of 35,000 megalitres per year, with 110ppm LI content and above have been deemed economic. Recharge successfully completed a 2022 drill campaign at Pocitos 1 assaying 169 PPM Li and over a two-week period averaging 161 PPM Li All three drill holes at Pocitos to date have had exceptional brine flow rates.
The Ekosolve™️ Lithium Solvent Exchange Extraction process can efficiently manage the processing of the brines to produce lithium carbonate with a grade higher than 99.5% and a recovery of 96%, far exceeding any ion exchange or adsorption process available to date. Ekosolve™️ is licensed by the University of Melbourne, Australia to Ekosolve Limited, an unlisted public company.
Phil Thomas, who is the company’s qualified person, BSc Geol, FAusIMM MAIG, has spent the past 22 years exploring for lithium brines, including building, and operating a pilot plant for production at Rincon Salar (sold to Rio Tinto plc for US$825 Million) as well as he and his team explored the Pozuelos salar, producing an indicated and inferred resource, from four exploration wells (recently sold to Ganfeng Lithium Co., Ltd. for US$962 million).
CEO, David Greenway, summarised, “We are excited to see things continue to develop positively for the Pocitos Lithium Brine Project. Recharge is pushing forward on all fronts with an inaugural NI 43-101, a completed MT geophysics survey, a pending drill program, and a planned upcoming NI 43-101 resource estimate. The recently completed MT survey shows us exactly where the conductive brines containing lithium have been concentrating. These developments should make for an exciting next period for Recharge and its stakeholders at the Pocitos lithium brine project.”
About Pocitos Lithium Brine Project
The Pocitos Project is located approximately 10 km from the township of Pocitos where there is gas, electricity, and internet services. Pocitos (1 & 2) is approximately 1,352 hectares and is accessible by road. Collective exploration totaling over USD $2.0 million developing the project, including surface sampling, trenching, TEM and MT geophysics and three DDH holes that resulted in outstanding brine flow results. Locations for immediate follow up drilling have already been designed and permits are in place pending submission of final details.
Lithium values of up to 169 ppm Li from laboratory analysis conducted by Alex Stewart were recorded during the project’s drill campaigns as recent as December 2022. A double packer sampling system in HQ Diamond drill holes were drilled to a depth of 409 metres. The flow of brine was observed to continue for more than five hours. All holes had exceptional brine flow rates.
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Panopus Pte Ltd owns 50% of Ekosolve Limited and Phillip Thomas owns 100% of Panopus Pte Ltd.
Mr. Thomas is independent of the Company and is NOT a shareholder of Recharge Resources. Thomas visited the property to view the core and drilling between January 15th-22nd, 2023 and 8-10 May 2023 to determine if additional flow tests could be arranged.
Market Awareness Program
As part of Recharge’s ongoing strategy to raise the profile of Recharge’s projects to investors, the Company has further extended its engagement with TD Media LLC, also known as Lifewater Media Digital Agency (“Lifewater Media“), based in Sugarland, Tex., United States. Lifewater Media specializes in delivering omnichannel programmatic advertising, artificial intelligence implementations and predictive KPI modelling through its use of detailed, real-time measurements for brand campaigns. The extended engagement with Lifewater Media will be for an additional 30 day term expiring on October 21, 2023 for an additional fee of US$100,000 to the Company. The engagement of Lifewater Media was previously extended for a period of six months expiring on September 21, 2023 as announced in the Company’s news release dated March 14, 2023. LifeWater Media and Recharge are not related parties and operate at arm’s length. Neither LifeWater Media nor its principals have any interest in the Company’s securities, directly or indirectly, or any right or intent to acquire such an interest. Lifewater can be reached via email at Info@lifewatermedia.com.
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors,
David Greenway, CEO
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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.