Argosy Minerals updates mineral resources

Argosy Minerals (ASX:AGY) has announced a significant upgrade to their JORC-compliant Total Mineral Resource Estimate for the Rincon Lithium Project in Argentina. The new estimate now totals 731,801 tonnes of lithium carbonate, showcasing a promising increase in resources.

Comprehensive overview and future outlook

Argosy Minerals has upgraded the Mineral Resource Estimate for its Rincon Lithium Project, with a current total of 731,801 tonnes of lithium carbonate. This includes an Indicated Resource of 640,330 tonnes and an Inferred Resource of 91,471 tonnes. An Exploration Target further suggests the potential for an additional 186,000 to 466,000 tonnes, indicating a total potential range of 917,000 to 1.2 million tonnes. The upgraded resource will inform updates to hydrogeological models and mine-life projections. Future drilling is planned to explore the potential of converting the Exploration Target into a Mineral Resource. By continuing development in the Lithium Triangle, Argosy Minerals aims to position the Rincon project as a major lithium production operation.

Executive insights on resource upgrade

The resource and brine aquifer remain open at depth, suggesting excellent potential for further resource expansion through deeper drilling and tenement acquisitions.