TORONTO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Arena Minerals Inc. ("Arena" or the "Company") (TSX-V: AN | OTCQX: AMRZF) is pleased to announce it has completed exploratory drill hole R-03 on the Barreal II claim block, which forms part of the northernmost portion of the Sal de la Puna Project (“SDLP Project”) located in the Pastos Grandes basin within Salta province, Argentina. The rotary exploratory hole intersected two brine aquifers and was drilled down to a total depth of 620 metres below surface. The two brine aquifers consist of:

• 90 metres (90-120m) averaging 538 milligrams per litre (“mg/l”) lithium (“Li”)

• 255 metres (365-620m) averaging 641 mg/l Li.

Both discovered brine aquifers are predominantly composed of alluvial sands with minor halite. The lower aquifer commenced at a depth of 360 metres and intersected brines assaying up to 695 mg/l Li, representing the highest grade reported intercept in the Pastos Grandes basin. The aquifer remains open at depth as the drill hole was stopped at 620 metres in alluvial sands due to drill capabilities.

William Randall, President & CEO of Arena, stated, “Our second exploration hole delivers our best drill results to date, opening the northern portion of our claim blocks to resource development. The grades, brine quality and aquifer material warrant further drilling to expand this brine resource to the north onto our larger La Relojera and Barreal III claims.”

The brine maintains the favourable high-quality geochemistry with an average magnesium to lithium ration of 5.5 and sulphate to lithium ration of 10.5, similar to those encountered throughout the Pastos Grandes basin.

A map showing exact locations of drilling completed by Arena to date can be found below.