Greenwing Resources Unveils Maiden Lithium Resource at San Jorge Project
GW1 (GW1) Share Update January 2025 Tuesday 14th
Greenwing Resources Defines Maiden Lithium Resource at San Jorge Project
Greenwing Resources Ltd (ASX:GW1) has announced a significant milestone in its San Jorge Lithium Brine Project in Argentina, defining a maiden Mineral Resource Estimate of 1.07 million tonnes of Lithium Carbonate Equivalent (LCE).
Instant Summary:
- Maiden Mineral Resource Estimate of 1.07 Mt LCE.
- 0.67 Mt of Indicated Resources and 0.4 Mt of Inferred Resources.
- Potential for resource expansion in several directions and at depth.
- Geophysical surveys confirm lithium-bearing brine extends beyond current drilling.
Exploration Update
Greenwing Resources has made substantial progress at its San Jorge Lithium Brine Project, located in Argentina. The company has successfully defined a maiden Mineral Resource Estimate of 1.07 million tonnes of Lithium Carbonate Equivalent (LCE), comprising 0.67 million tonnes of Indicated Resources and 0.4 million tonnes of Inferred Resources.
The project covers an area of 2,800 hectares at the San Francisco Salar, with the potential for expansion across an additional 36,000 hectares. Recent geophysical surveys, including Magnetotelluric (MT) and Transient Electromagnetic (TEM) methods, have confirmed that lithium-bearing brine extends to the west and north of the current resource, as well as at depth.
Geophysical Insights
The MT and TEM surveys have revealed that the brine body extends to a depth of approximately 600 meters, which is beyond the depth reached by the deepest drill hole, SJDD04, at 402 meters. Notably, lithium concentration increases with depth, suggesting potential for higher grades in future drilling.
The surveys also indicate that the brine body extends more than 4 kilometers west and over 5 kilometers north of the salar boundary, highlighting significant opportunities for resource growth. The conductive zones identified in the geophysics suggest that lithium grades may increase where the brine body extends beyond current drilling depths.
Future Drilling and Resource Expansion
Greenwing plans to conduct a second phase of drilling, which will include seven additional diamond holes aimed at further defining the resource. The company holds the sole rights to acquire 100% ownership of the project area, providing flexibility for future exploration and development activities.
The announcement of a maiden resource estimate is a significant milestone for Greenwing Resources, potentially enhancing its market position in the lithium sector. The confirmation of resource expansion potential could positively influence investor sentiment and drive stock performance. However, the company's ability to realize this potential through further exploration and successful development will be crucial.
Investor Reaction:
Analysts are likely to view the maiden resource estimate as a positive development, given the growing demand for lithium driven by the electrification of transportation and renewable energy storage. The potential for resource expansion adds further upside to the project's value.
Conclusion:
Investors should keep a close eye on Greenwing's upcoming drilling activities and any updates on resource expansion. The company's strategic approach to developing the San Jorge Project will be key to unlocking its full potential and delivering value to shareholders.