Lithium Energy’s got its skates on, and is flying towards finalising maiden resource at Solaroz. Pic via Getty Images
Lithium Energy accelerates towards maiden brine resource with more drilling at Solaroz lithium project
Mining
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Momentum is continuing to build towards the maiden resource at Lithium Energy’s Solaroz brine project in Argentina, where drilling of the fourth and fifth holes of a 5000m maiden drill program is imminent.
Lithum Energy (ASX:LEL) has already demonstrated that conductive brines encountered across its 12,000 hectare network of concessions are rich in lithium as expected, being located adjacent to Allkem’s massive Olaroz operation and Lithium Americas’ Cauchari brine field.
The first and third holes, drilled on the Mario Angel concession and Chico I concession confirmed expectations from geophysical surveys, with cumulative lithium brine intersections of up to 235m and lithium concentrations of up to 555mg/L lithium.
Assays are still pending for the second hole in the program on the Chico V concession.
The fourth and fifth of a total of 10 holes will be sunk at the Chico I and Chico VI concessions, with interpretation of geophysical surveys leading Lithium Energy to believe the sites are highly prospective for lithium bearing brines.
“Results from drilling these two holes should contribute to increasing confidence in the extent and quality of lithium mineralisation and the potential for economic brine extraction at Solaroz,” the company said.
Not only is LEL on the way to defining a potential maiden JORC compliant resource at Solaroz, but it has also appointed consultants Hatch to undertake a scoping study to produce battery grade lithium carbonate from the rich brines at Solaroz.
The results of the scoping study will be scheduled to coincide with the definition of the first resource.
This article was developed in collaboration with Lithium Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
