Argosy Minerals (ASX:AGY) - Non Executive Chairman, Alex Molyneux
Non Executive Chairman, Alex Molyneux
Source: Mining News
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  • Argosy Minerals (AGY) wraps up a magnetotelluric (MT) resistivity field survey at the Tonopah Lithium Project in the US state of Nevada
  • The survey was conducted by a contractor across 41 MT sites acquired on a 500-metre nominal station
  • Survey data will be sent for processing to enable geophysical analysis and interpretation ahead of potential drilling to test lithium brine prospectivity
  • AGY says the data will potentially help to locate lithium brine trap targets and delineate priority drill target sites
  • Shares closed at 14 cents on August 5

Argosy Minerals (AGY) has wrapped up a magnetotelluric (MT) resistivity field survey at the Tonopah Lithium Project in the US state of Nevada.

The survey was conducted by a Nevada-based contractor across 41 MT sites acquired on a 500-metre nominal station, with spacing along three profile lines totalling roughly 20 lineal kilometres.

Data collected from the survey will be sent for processing to enable geophysical analysis and interpretation work.

In turn, the analysed data will reportedly assist AGY in defining depths to the resistive geologic basement.

It will also help identify resistivity anomalies — potentially caused by lithium brine, distinguish geologic structures in the survey area, potentially locate the lithium brine trap targets and delineate priority drill target sites.

Upon completion of data processing, analysis and interpretation works, the company will consider potential drilling to test the lithium brine prospectivity potential within the project area.

Argosy Minerals Managing Director Jerko Zuvela said the company looked forward to realising the potential of Tonopah as new “green economy” initiatives in the US triggered big plans for the industry.

“With lithium market sentiment and lithium carbonate prices continuing their strong upward momentum and the significant push for lithium supply in the US fast becoming critical in their aim to promote the highly strategic battery minerals industries, our Tonopah Lithium Project is in prime position and enhances Argosy’s value to all strategic groups across the battery and electric vehicle industry supply chains.”

Shares closed at 14 cents on August 5, 2021.

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