ASX-listed mining company Xantippe Resources (ASX:XTC) reports it has identified a ‘large’ potential lithium-bearing brine zone following a Vertical Electrical Sounding (VES) geophysical survey at its Carachi Lithium Project in Argentina’s Catamarca province.
The results of the VES geophysical survey highlighted a highly conductive horizon that is believed to represent a brine target with potential to host a large lithium deposit.
It is reported that this brine target is characterised by low resistivity values that are interpreted to represent a buried salar deposit of a highly-conductive brine zone, which occurs at depths of 34m to 220m below surface, remains open at depth and in all directions and is reported to be 150m thick.
The VES survey covered an area of about 300km-square and demonstrated that the conductive horizon is clearly present in the majority of the VES stations, which cover a total land holding of about 130km-square.
Commenting on the discovery, Xantippe Resources Executive Chairman, John Featherby says: “The company is very pleased with these positive results and moves forward with great confidence to the next phase of exploration, our first drilling program.
“The company is very pleased with these positive results and moves forward with great confidence to the next phase of exploration…”
The aim is to use this drilling program to provide an initial JORC compliant Mineral Resource Estimate.”
The company also notes that this brine aquifer has been reported as having elevated levels of lithium at Lake Resources’ Kachi Lithium Project, which is located adjacent to the Carachi tenement.
In addition, based on the VES resistivity data, it is believed that 5 zones exist within this conductive horizon and range from unsaturated material in the surface to highly conductive brine at depth.
Xantippe Resources is an ASX-listed company that is focused on becoming a provider of sustainable, high-purity battery-grade lithium by utilising new technologies and leveraging strong local partnerships in order to develop its Carachi project in Argentina. The company’s Carachi tenement is located within the nations Catamarca province, which is situated within the world-renowned lithium triangle in South America and covers areas of Argentina, Chile and Bolivia.
The project comprises about 21,900 hectares and is situated about 40km south of the township of Antofagasta de la Sierra at about 3,000m elevation. This area of exploration also includes the Hombre Muerto Salar, where a US$840 million lithium mine is currently under development by the Korean multinational corporation POSCO (NYSE:PKX).
With the VES geophysical survey now complete, Xantippe Resources announces it will move forward with exploration drilling at the project in the event that its Environmental Impact Assessment (EIA) is approved by the mining authority.
Images: Xantippe Resources Ltd & iStock
