Pepinnini Lithium Ltd’s (ASX:PNN) drilling from one borehole of the company’s Rincon Lithium Brine Project located in Argentina has revealed encouraging mineralisation.
The borehole intersected three distinct rock type sequences from 1 metre to 24.8 metres.
Mineralisation intersected included caliche (calcrete), sand, silt, clay and porous halite.
Between 26 metres and 69.5 metres black sands were intersected, while fractured basement rocks (basalt) from which brine was sampled.
Preliminary density results from laboratory analysis confirmed readings taken in the field which indicated the presence of brine.
Upcoming catalysts build on recent news driven rerating
In the second half of December, shares in Pepinnini more than doubled to a 12 month high of $0.094 on December 28.
A second borehole located circa 4 kilometres to the north has been completed, potentially providing further valuable information for the company.