Incahuasi Lithium Project
Our Incahuasi Lithium Project is one of our key assets within the Salta Lithium Project, located in the highly prospective Lithium Triangle of South America, in Salta Province, Argentina. Incahuasi is positioned as a cornerstone of our strategy to develop large-scale lithium brine operations, alongside the Rincon and Pular projects and is located are adjacent to projects held by Rio Tinto, Argosy Minerals (ASX: AGY), Allkem (ASX: AKE) & Ganfeng.
The Incahuasi Project has a JORC Mineral Resource Estimate (MRE) of 249,300 tonnes of Lithium Carbonate Equivalent (LCE), (160,600 Measured. 74,500 Indicated and 14,200 Inferred) with potential for further expansion through ongoing exploration and development efforts.
1 PNN: ASX announcement 24 May 2023
Joint Venture with Summit Nanotech
We signed a Binding Term Sheet with Summit Nanotech , a global leader in Direct Lithium Extraction (DLE) technology, to fund and develop the Incahuasi Project. Summit Nanotech’s proprietary denaLi™ DLE technology is designed to reduce water usage, lower costs, and maximise lithium recovery, making it a crucial element of our development strategy for the project.
As part of this partnership, Summit Nanotech has committed to a US$3.125 million strategic investment and will participate in advancing the project through a two-phase development process. Summit can earn up to a 45% interest in the project, contingent on the completion of a feasibility study and construction of a commercial-scale demonstration plant.
Preliminary Economic Assessment (PEA)
We are focused on advancing the Incahuasi Project towards a Preliminary Economic Assessment (PEA), supported by Summit Nanotech’s advanced extraction technology. The PEA will provide a detailed roadmap for turning Incahuasi into a lithium-producing operation and is a key milestone in the project’s development timeline.
Exploration & Expansion Potential
Drilling and pumping tests have confirmed the strong transmissivity of the Incahuasi aquifer, reinforcing the project’s potential as a significant lithium resource. Ongoing exploration aims to further define the resource base and support the project’s future development phases.
Future Plans
With Summit Nanotech, we are currently progressing plans to construct a 1,000 tonnes per annum (tpa) DLE demonstration facility at Incahuasi. The facility will showcase the commercial scalability of Summit Nanotech’s DLE technology and position the project for full-scale production. In addition, further drilling and hydrological studies will be conducted to expand the JORC Resource and finalise plans for the project’s long-term development.
