Argosy Minerals Limited announced the assessment of long-term pumping data results - independently prepared by AQ2, for the Rincon Lithium Project, located in Salta Province, Argentina. Bore PRP1 is currently used to supply lithium brine for the Company's industrial scale pilot plant operations to produce >99.5% high purity battery quality lithium carbonate product. Long term data on the hydraulic performance of this bore have been reviewed to verify assumptions that were made during the Preliminary Economic Assessment ("PEA") about the brine extraction scheme for the overall project. After 120 days of pumping, the aquifer transmissivity at production bore PRP1 is estimated to be 7,500m2/day, predominantly for the upper-most halite aquifer. This compares to an average value of 2,800m2/day that was derived from short-term pumping data during the PEA, and an average project-wide value of 1,200m2/day (for the upper-most halite aquifer), that was used for modelling in support of the PEA. The results suggest assumptions used in the PEA were (appropriately) conservative and the results increase confidence that the aquifer performance will be consistent with or better than was modelled during the PEA, the proposed brine abstraction scheme is technically appropriate, and that there is scope to optimise the scheme during future stages of the project ­ thus potentially lowering the development costs when progressing to the larger scale 2,000tpa and ultimately 10,000tpa operations. The updated long-term pumping data gives the Company great confidence and considerably reduces the associated risks for Argosy for the continued larger scale development of the Rincon Lithium Project.