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Mining industry

Power Minerals Limited Commences Hydrological Drilling at Pocitos Project in Argentina

Strategic Insights

— 1 min read

Power Minerals Limited is pleased to announce the commencement of hydrological drilling at its Pocitos Project, part of the Rincon Joint Venture with Navigate Energy in Argentina. The drilling campaign aims to delineate an industrial water source, a crucial component for the planned future development of Direct Lithium Extraction (DLE) processing at Pocitos. Strategically located within the Salta Lithium Project in Argentina's Lithium Triangle, Pocitos has the potential to offer a required water source and is seen as a prime location to host a lithium carbonate production hub. The project benefits from existing infrastructure, including adjacent rail networks to Pacific and Atlantic ports, reliable electricity, and freshwater sources.

Key Takeaways:

  • Power Minerals Limited will commence hydrological drilling at the Pocitos Project in Argentina, focusing on delineating an industrial water source for Direct Lithium Extraction (DLE) processing.
  • The drilling campaign will explore freshwater resources within the extensive alluvial fan northeast of the Pocitos salar, using recently obtained environmental and water-use permits from the Province of Salta's Secretary of Mining and Water Resources.
  • The Pocitos Project is strategically located within the Salta Lithium Project in Argentina's Lithium Triangle, offering a prime location to host a lithium carbonate production hub with strong existing infrastructure.
  • The project benefits from direct access to the General Belgrano Railway, integration with existing natural gas pipelines, and connection to solar energy infrastructure via the Cauchari and Altiplano solar farms.
  • The Rincon Joint Venture entity is nearing completion, which will release US$4 million in investment from Navigate Energy as part of its commitment to the JV.
  • Power Minerals Limited is fully committed to advancing Pocitos as a future lithium hub to maximize shareholder value and support the global clean energy transition.

Statistics:

  • The Start of drilling is expected late in 2025.
  • Pocitos Project is located 30km south of Rincon, and added to the Rincon JV in February.
  • The Pocitos Project will receive US$4 million in investment from Navigate Energy.
  • Power Minerals Limited is strategically located within the Salta Lithium Project in Argentina's Lithium Triangle.

Sources:

  • Power Minerals Limited. (2023). News Release: Power Minerals Limited Announces Commencement of Hydrological Drilling at Pocitos Project.
  • Wikipedia – Power Minerals Limited.
  • Navigate Energy Press release (2023).
  • "Argentina is home to the world's most significant lithium reserves, covering around 54% of global identified hard-rock lithium reserves."

Note: Sources not specified date from original provided.

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