Xantippe Resources Limited has identified a highly conductive brine aquifer at its Carachi Lithium Project in Catamarca, Argentina.
The Vertical Electrical Sounding (VES) geophysical survey covered an area of approximately 300 square kilometres, and the conductive horizon was detected in the majority of the VES stations.
The zone is characterized by very low resistivity values interpreted to represent a buried salar deposit of a highly conductive saline brine zone (<2 ohm/m).
The zone occurs at depths of 34 to 220 metres below surface and is at least 150 metres thick, open at depth and in all directions laterally.
The next phase of exploration will involve exploration drilling, for which permits are in the process of being evaluated.
Once the permits are granted, a 3,550 metre exploration core holes program is planned to sample and characterise the target aquifer.
Following the announcement, shares of Xantippe Resources (ASX:XTC) were unchanged at $0.005.