Dempsey Minerals believes results from a gravity survey conducted over the 15km length of the Candelas lithium brine leases at its Hombre Muerto project in Argentina provides significant potential for the presence of a substantial amount of brine.
The results from the gravity survey conducted by independent geophysical consultant Quantec Geoscience highlight the area contains materials of lower density compatible with a basin filled with sediments and a high proportion of fluids.
Geo findings also highlighted the basin could be deep since no high-density materials seem to appear to depths of up to 600m.
The findings are in line with a CSMAT survey conducted by Quantec earlier this year which confirmed excellent potential for presence of a substantial amount of brine.
These results have exceeded our initial expectations for the project and give further evidence that the Los Patos channel at Hombre Muerto has the very real potential to host geological units saturated with a substantial amount of brine,” Dempsey’s Chairman Nathan McMahon said.
Given the projects location in the premiere and only long term proven, producing lithium brine basin in Argentina then we have an exciting time ahead of us. We look forward to progressing the project as quickly as we can.”
The company has commenced its permitting procedures to conduct drilling over the project as soon as practicable.
The project lies within the South American Lithium Triangle in the Hombre Muerto Basin, one of the most important and prolific salt flats in Argentina and indeed the world and is situated adjacent to Galaxy Resources’ Sal de Vida project and FMC’s Fenix lithium operations.
Shares in Dempsey were last trading at 19c.