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PepinNini Lithium defines maiden resource at Rincon Lithium Brine Project

The company has defined a valuable resource given the current price of lithium.

Managing director Rebecca Holland-Kennedy with the field team in Salta
Managing director Rebecca Holland-Kennedy with the field team in Salta

PepinNini Lithium Ltd (ASX:PNN) has revealed a valuable initial lithium and potassium resource for its Rincon Lithium Brine Project in the Salta province of Argentina.

The resource includes 60,000 tonnes of lithium carbonate equivalent (LCE) and 270,000 tonnes of potash equivalent in the measured and indicated categories.

The company's shares closed about 5% higher today at 2 cents following this exciting new development.

PepinNini managing director Rebecca Holland-Kennedy said: “We are very excited to see an initial JORC resource estimate from our hydrogeological consultants.

“The company now has a first defined resource estimate in place for our lithium project which given the current price of LCE it is a valuable resource.

“It forms the basis for subsequent resources estimates from our other projects to allow us to continue to advance to the next level of development for lithium production.”

Favourable aquifer conditions

The dominant hydrologic unit encountered during PepinNini’s drilling was a weakly consolidated black volcanic sand.

The sand dominates the drainable brine resource, and the lithium and potassium resource contained in the brine.

Black sand from 92-107 metres depth

PepinNini expects that the transmissivity of future wells would be favourable for extracting brine because of the favourable aquifer conditions associated with the uniformly-sized and weakly-consolidated sand unit.

Pumping well to provide additional data

The Rincon resource is defined over a 2.54 square kilometre footprint using results from core drilling and depth-specific packer sampling.

A pumping well is planned for the project to provide additional data on lithium grade and test recharge rates of the brine.

An upgraded resource would then be calculated.

Quick facts: PepinNini Lithium Ltd

Price: 0.195 AUD

ASX:PNN
Market: ASX
Market Cap: $4.02 m
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