world-renowned Lithium Triangle. Building on successful capital injections and establishing a USD 10 million treasury, the Company further provides a comprehensive operational update and summary of upcoming plans for capital deployment. As previously noted, sampling at shallow depths on the Tolillar Salar have returned lithium concentrations as high as 504 mg/L.
Upon conclusion of our recent geophysics campaigns, the last of which is still undergoing final analysis prior to publishing the results, the Company is now mobilizing equipment and personnel to commence drilling operations, starting with the targets identified in the first geophysics campaign. The drilling program is estimated to entail a minimum of four locations, combining rotary and diamond drilling, in addition to coring operations. At least one location is planned to secure a strategic and valuable fresh water source, which will be essential for future production and operations.
Diamond drilling will provide larger and cased wellbores with perforations or slots aligned with zones that are identified geologically or geophysically as zones of interest. Flow-tests can subsequently be conducted on these lithological units to determine effective permeability. Brine samples can also be taken at multiple intervals during the flow tests to determine brine chemistry and quality. Core-holes are intended to provide the company with geological samples that can provide quantitative measures of drainable porosity. All data obtained from drilling can be utilized to advance the Company’s hydrogeological and geochemical models.
Brad Nichol, President and CEO reports, “The initial geophysics and sampling that has been completed have compelled us to start drilling immediately. We have valid drilling licenses in hand for some of the initial targets and our local team is renewing those few that expired during Argentine COVID shutdowns. Those reapplications are now underway, as is the drilling program on the licenses we do have in hand.”