Arena Minerals Inc. ("Arena" or the "Company") (TSX-V:
AN) is pleased to announce it has completed drilling of
its first diamond drill hole (DD-02) at the Sal de la Puna Project
(“SDLP Project”) located in the Pastos Grandes basin within Salta
province, Argentina. The diamond drill hole is located on the
Almafuerte claim and intersected a continuous brine column from 140
metres to the total drilled depth of 646 metres. The entire sampled
brine column averaged 496 milligrams per litre (“mg/l”) lithium
(“Li”).
An uninterrupted gravel aquifer was intersected
between 334 metres and 634 metres down hole, representing the
thickest gravel sequence drilled in the basin. The gravel aquifer
averaged 503 mg/l Li with grades as high as 557 mg/l Li at 550
metres below surface. Gravel and sand aquifers typically have
favourable effective porosity values and high flow rates, which
translate to highly productive wells. DD-02 was completed as an
observation well with 2-inch diameter blank and screened PVC casing
to 450 m depth.
William Randall, President & CEO of Arena,
stated, “This first drill hole completed by Arena exceeds our
expectations. The coarse gravel aquifer, where higher flow rates
are typically found, appears to be thicker in our end of the Pastos
Grandes basin with high grade lithium values and favourable
geochemistry. We kept the drill turning past our target depth to
determine the total thickness of this gravel sequence; however, the
brine column remains open at depth for future potential resource
expansion.” He added, “We have now mobilized an additional drill
rig to ensure we meet our development timelines.”
Depth specific brine sampling was caried out in
DD-2 over the entire brine column using double and simple packer
sampling systems. The brine column averaged magnesium to lithium
ratios of 4.5 to 1 and sulphate to lithium ratios of 15 to 1.
Eduardo Morales, Executive Chairman of Arena,
added, “In addition to excellent lithium grades, we are very
pleased with the brine geochemistry. The magnesium and sulphate
ratios are within those currently used in our pilot facilities
giving us great confidence that our objective of producing
technical grade lithium chloride (6% Li) is achievable from the
drilled aquifers.”
Mobilization of two additional
drills
The Company is also pleased to announce that two
additional drill rigs have been mobilized to site. One diamond
drill rig is currently set up at DD-01, located on the Graciela
claim, and has a target depth of 550 metres. The depth of the hole
may be extended if favourable lithologies are encountered, as
happened in DD-02 in the adjacent Almafuerte claim.
A second rotary drill is scheduled to mobilize
in three weeks to Almafuerte to drill a production well (P-1) 15
metres away from DD-02. The well has a target depth of 450 metres
and looks to test the productive capabilities of the gravel aquifer
intersected in DD-02 by completing pumping tests using the
neighbouring DD-02 as a monitoring well.
Arena is operating the drill program on behalf
of Sal de la Puna Holdings Ltd., which is jointly owned by Arena
(65%) and Ganfeng New Energy Technology Development (Suzhou) Co.,
Ltd. (“Ganfeng Lithium”; 1772.HK; OTCQX: GNENF) (35%).
The drill program is focused on the Almafuerte
and Graciela blocks which border Lithium America’s (TSX: LAC; NYSE:
LAC) Pastos Grandes project to the south and south-east and
consists of 3,000 metres with the objective of both increasing the
category of the current resource and increasing the SDLP Project’s
resource base.
The drill program is jointly designed and
supervised by the Company and Atacama Water consultants. All brine
samples are sent to SGS Laboratories, Salta, Argentina, an
independent and fully international accredited laboratory for
analysis for lithium multi-element Induction Coupled Plasma
Spectroscopy. Arena has a regimented Quality Assurance, Quality
Control program where at least 10% duplicates, blanks and standards
are inserted into each sample shipment.
Corporate Matters
The Company has engaged Digitonic Limited to
provide investor awareness services for USD216,000. Digitonic
Limited is based in Glasgow, Scotland and operates under the
direction of Mr. Neil Reynolds.
About Arena Minerals Inc.
Arena owns 65% of the Sal de la Puna Project
covering approximately 11,000 hectares of the Pastos Grandes basin
located in Salta, Argentina. The claims are highly prospective and
share the basin with two advanced lithium brine projects. In
addition to Sal de la Puna, the Company owns the Antofalla lithium
brine project in Argentina, consisting of four claims covering a
total of 6,000 hectares of the central portion of Salar de
Antofalla, located immediately south of Albemarle Corporation's
Antofalla project. Arena has developed a proprietary brine
processing technology using brine type reagents derived from the
Antofalla project with the objective of producing more competitive
battery grade lithium products.
Arena also owns 80 percent of the Atacama Copper
property within the Antofagasta region of Chile, and 5.8 million
shares of Astra Exploration. The projects are at low altitudes,
within producing mining camps in infrastructure-rich areas, located
in the heart of Chile's premier copper mining district.
For more information regarding the Company, its
management, expertise, and projects, please visit
www.arenaminerals.com. An email registration allowing subscribers
to directly receive news and updates is also available on the
website.
The technical information contained in this news
release has been reviewed and approved by William Randall, P.Geo,
who is a Qualified Person as defined under NI 43-101. Mr. Randall
is a director and is the Chief Executive Officer and President of
Arena.
For more information, contact William Randall, President and
CEO, at +1-416-818-8711 or Simon Marcotte, Corporate Development,
at +1-647-801-7273 or smarcotte@arenaminerals.com.
On behalf of the Board of Directors
of: Arena Minerals Inc.
William Randall, President and CEO
Cautionary Note Regarding Accuracy and
Forward-Looking Information
This news release may contain forward-looking
information within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements, projections and estimates relating to the
future development of any of the Company's properties, the
anticipating timing with respect to private placement financings,
the ability of the Company to complete private placement
financings, results of the exploration program, future financial or
operating performance of the Company, its subsidiaries and its
projects, the development of and the anticipated timing with
respect to the Atacama project in Chile, the Antofalla, Hombre
Muerto or Pocitos Projects in Argentina , and the Company's ability
to obtain financing. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". The statements made herein are based on current
expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially because of
factors discussed in the management discussion and analysis section
of the Company's interim and most recent annual financial statement
or other reports and filings with the TSX Venture Exchange and
applicable Canadian securities regulations. Estimates underlying
the results set out in this news release arise from work conducted
by the previous owners and the Company. Forward-looking information
is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to: general business,
economic, competitive, geopolitical and social uncertainties; the
actual results of current exploration activities; other risks of
the mining industry and the risks described in the annual
information form of the Company. Although the Company has attempted
to identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Arena Minerals does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
Arena Minerals (TSXV:AN)
過去 株価チャート
から 11 2024 まで 12 2024
Arena Minerals (TSXV:AN)
過去 株価チャート
から 12 2023 まで 12 2024