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Argosy Minerals on track to produce lithium from Rincon

Argosy recently raised $17 million from a placement and share purchase plan.
pond construction works at Rincon Project
Initial lithium production is expected by the end of the 2018 March quarter

Argosy Minerals (ASX:AGY) remains on track at its Rincon Lithium JV Project located in the Lithium Triangle area within the Salta Province, Argentina.

Initial Stage 2 evaporation pond construction works are nearing completion including earth moving works and the installation of pond lining material.

The initial production of the first battery grade lithium carbonate equivalent (LCE) remains on schedule for the end of the March 2018 quarter

Jerko Zuvela, managing director, commented: “We are delighted with the progress of initial Stage 2 development works and preliminary exploration drilling results supporting our fast-track development strategy of targeting LCE production.

“We are committed to building a sustainable lithium production company.”

11 hectares of evaporation ponds

When Stage 2 is combined with the Stage 1 evaporation ponds already constructed, Argosy will have over 11 hectares of evaporation ponds concentrating lithium brine.

The Stage 1 ponds have been concentrating lithium brine since April.

Importantly, the combined ponds will be operating during the upcoming summer peak solar evaporation season.

The lithium brine concentrate is expected to be available for processing through the Stage 1 plant, and targeted to produce first battery grade LCE product by the end of the March 2018 quarter.

READ NOW: Argosy Minerals closes capital raising early due to demand

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