LSC reported a lithium carbonate equivalent (LCE) resource of 939,080 tonnes grading 464 milligrams per litre lithium in the combined measured and indicated categories, and 307,500t LCE grading 467mg/l in the inferred category.

"With an updated resource on Pozuelos expected to be released this month, we anticipate that the larger combined lithium carbonate equivalent inventory and the blend of the chemistry from both the Pozuelos and Pastos Grandes salars will add to the upside of the PPG project. It is also worth noting that the Pastos Grande resource remains open at depth," CEO Ian Stalker said.

The company said it paid close attention to the relative brine release capacity measurements of Pastos Grandes, because of the value's importance in the ongoing preliminary economic assessment. The resources in the measured and indicated categories showed a RBRC of 4.74%, and and a potasium-lithium ratio of 10.28, while that for the inferred resource was 4.81% and 10.23, respectively, the company said.

LSC is currently completing an updated resource report for its Salar de Pozuelos property and is undertaking a PEA for the PPG project, based on a target production rate of 20,000 tonnes per annum lithium carbonate.

According to LSC, the complimentary chemistries of the Pastos Grandes and Pozuelos would be used to feed the lithium production system for the PPG project. The company said the chemistries of both salars suggested the two projects could be developed together, using conventional lithium brine processing technologies such as solar evaporation.

The current resource estimate on Pozuelos includes 1.3 million tonnes LCE in the measured and indicated resource category and 497,000t in the inferred resource category.

The developer's equity had lost 70% over the past 12 months, trading in a range of C28c-$1.72. The stock lost another 5.32% Wednesday, falling 2.5c to 44.5c apiece, which gave the company a market value of $73 million.