Vancouver, BC – June 12, 2023 – Recharge Resources Ltd. (“Recharge” or the “Company”) (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) announced today that SouthernRock geophysics had surveyed a major zone with a resistivity of just 0.3 Ohm-m implying a highly conductive ellipsoidal shaped unit with a thickness of 750 metres and a length of 2.5 kilometres to a high value of 0.5ohm-m on line 1900. Seawater with low sodium chloride content has a value 1.9 to 3.16 Ohm-m so its likely there are other ions such as lithium in the brines to reduce the resistivity to 0.3-0.5 Ohm-m.
Line 9600 also showed a hotspot near the surface at 700000E with a resistivity of 0.3 Ohm-m with a large ellipsoidal shaped unit 450m in depth and 4.5km in length running from west to east below 0.5 Ohm-m. The north south line 1750 showed a 450m thick unit with a resistivity of 0.5 Ohm-m running from the north and thinning to the south at a thickness of 250 about 250m below the surface. Based on published drill data and geophysics from similar salar projects, the Company expects prospective aquifer zones to exhibit resistivities below approximately 2 Ohm-m. Brine-rich porous units are expected to produce resistivities on the order of 0.5-1.0 Ohm-m.
Phil Thomas QP stated “these are outstanding results and they collaborate well with 2018 and recent drill results. Brine with 160ppm* lithium will show a very low resistivity in the order of 0.5 Ohm-m to 0.75 Ohm-m. The sub 0.5 Ohm-m resistivity unit measures 4.5km x 2.5km unit with 250m thickness estimated at 2.8 billion cubic metres of lithological units that could contain lithium enriched brines”.*refer TSXv news release Recharge Resources’ Pocitos 1 Lithium Brine Project Flows For 2 Weeks Averaging 161 ppm Lithium January 31, 2023.
Line 9600 shows a flat lying lithology typical of a salar with evaporitic material deposited in the basin. The main low resistivity unit is 450m deep with a hotspot on the western section at 700000E.Once again having such a large unit with a resistivity of about 0.5 Ohm-m is very prospective.
The North South section shows flat lying sediments on the border between Pocitos 1 and 2. There is a change in lithological units in the south that change from flat lying to dipping to the west, with a lower resistive unit about 200m depth in the southern section of the Pocitos properties.
As previously announced, the basis for the NI 43-101 report is well underway after Recharge’s Qualified Person, Phillip Thomas set up the drill program in Argentina when he was there in November 2022 and again in January 2023 and most recently in May of 2023 to measure and review core, flow rates and assays to complement the work WSP will do complete a mineral resource estimate within the NI43-101 compliant report. WSP hydrologist’s have also visited the project and inspected the site and core.
QP Phil Thomas, 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 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 for US$962 million).
CEO, David Greenway, summarised, “Recharge is pushing forward on all fronts with an inaugural NI 43-101, a pending drilling program, and a subsequent NI 43-101 resource estimate. The MT survey shows us exactly where the lithology has been concentrating conductive brines containing lithium. 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 geophysics and drilling three holes that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration. Our next step is to do a Magnetotelleric geophysics survey to position the next drill holes. This survey will penetrate to more than 800m.
Lithium values of up to 169 ppm from laboratory analysis conducted by Alex Stewart were recorded by 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 up to 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.
Mr Thomas is independent of the Company and is NOT a shareholder of Recharge Resources. Thomas visited the property to view the core between January 15th-22nd, 2023 and 8 May 2023 to determine if additional flow tests could be arranged.
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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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.