Argentina Lithium Drilling Continues to Produce Strong Lithium Results at the Rincon West Project

VANCOUVER, BC, Jan. 22, 2024

VANCOUVER, BC, Jan. 22, 2024 /PRNewswire/ - Argentina Lithium & Energy Corp. (TSX-V: LIT) (FSE: OAY3) (OTCQX: LILIF), ("Argentina Lithium" or the "Company") reports positive results from the tenth and eleventh exploration holes at its Rincon West Project in Salta Province, Argentina. Samples collected over a 295.5 m section of RW-DDH-010 ranged from 245 to 366 mg/l lithium. Samples collected over a 321 m section of RW-DDH-011 ranged from 246 to 344 mg/l lithium.

"Our tenth exploration hole was situated to test the continuity of the brine aquifer as our drilling extends eastward into the main salar basin. These results demonstrate continued strong grades and an exceptional interval length. For our eleventh hole, we moved 2.7 kilometres to the southeast, to test the salt flat in the southern and eastern portion of our main block at the Rincon West project. This produced another long interval of concentrated brines and recovered cores containing fractured crystalline halite and coarse, poorly cemented sediments, which may be excellent formations for pumping potential. We were not able to reach the bottom of the basin formation in the eleventh hole. We plan to extend our ongoing drilling to greater depths, with the objective of drilling into basement rock and defining the bottom of the aquifer." stated Miles Rideout, V.P. of Exploration.

The results including sampling method, the sample interval data and the brine analyses for RW-DDH-010 and RW-DDH-011 are shown in Tables 1 and 2 respectively. Drill collar information is presented in Table 3. An extensive selection of samples has also been sent for brine recovery testing at an independent laboratory; results are awaited. 

The Rincon West Project covers 5198.8 hectares of the salar basin, consisting of three property blocks adjacent to Rio Tinto's Rincon Project. Drill holes RW-DDH-010 and RW-DDH-011 represent the first two holes of the 6-hole program planned for the Rinconcita II property, announced in the Company's October 19, 2023 News Release. The Rinconcita II property represents a continuous extension of the sandy western basin at Rincon West, eastwards over the Rincon salt flat.

Figure 1 presents a map of the western (main) block of the Rincon West project showing the positions of eleven completed exploration holes (see  News Releases dated July 13, 2022, October 3, 2022, October 25, 2022, January 26, 2023, April 24, 2023 and May 31, 2023). The drill locations are overlain on the conductive zones (yellow shading) delineated by two geophysics campaigns (see News Releases dated May 2, 2022  and October 19, 2023).