Argosy completes survey of Nye lithium project

Argosy Minerals Limited, an Australian company that owns the Tonopah Lithium Project located in the Big Smoky Valley about 40 minutes from Tonopah, recently completed a magnetotelluric (MT) resistivity field on site, according to the press release.

Argosy contracted the Nevada-based contractor to carry out the magnetotelluric (MT) survey on its project, which covered forty-one (41) MT sites acquired on a 500-meter nominal station spacing along three profile lines, the release said.

The survey data will be processed to allow geophysical analysis and interpretation works to be conducted, according to the documents.

The analyzed data will assist with defining depths to the resistive geologic basement, identify low resistivity anomalies – potentially caused by lithium brine, distinguish geologic structures in the survey area, potentially locate the lithium brine trap targets, and delineate the priority drill target sites, the release said.

The low resistivity anomalies may indicate lithium brine zones, which are relatively close to surface, supporting conventional exploration drilling works.

Lithium is a key component in batteries used for electric vehicles, drones, power tools and other items.

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

“With lithium market sentiment and lithium carbonate prices continuing their strong upward momentum, and the significant push for lithium supply in the USA 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 EV industry supply chain,” Argosy Managing Director Jerko Zuvela said in a press release.

“We look forward to progressing and realizing the potential from our Tonopah Lithium Project, in an established tier 1 mining region, as the new ‘green economy’ initiatives in the USA will trigger aggressive plans for this industry,” Zuvela said.

The company considers the opportunity to develop our highly prospective Tonopah Lithium Project – strategically located near Albemarle’s Silver Peak lithium operation – in a jurisdiction supportive of the commercial development of lithium, as a strategic position to further develop Argosy into a world-class lithium producer, according to the press release.

Argosy Minerals Limited acquired the Tonopah Lithium Project in 2019.