Lithium Energy keeps drill momentum going with more conductive brines intersected
Lithium Energy’s drilling has uncovered further evidence that conductive – and likely lithium-rich – brines are present across its flagship Solaroz project in Argentina.
Drillhole 6 (SOZDD006) on the Chico VI concession has intersected conductive brines in sandstone units the Upper Aquifer from a depth of 150 metres.
Notably for Lithium Energy (ASX:LEL), the lithology encountered in Hole 6 is similar to that encountered in Hole 4 about 2,500m to the east, which encountered the Upper Aquifer at a depth of about 120m and has intersected a stunning 473.5m of lithium-rich brines grading up to 508mg/l lithium across the Upper and Lower Aquifers.
The results from Hole 6 and previous holes indicate that not only do conductive, lithium-rich brines appear to be present over wide swathes of Solaroz, the intersections returned to date have been consistently thick – both positive signs that a substantial lithium bounty is present at the project.
Hole 6 will now be drilled to a proposed total depth of 580m to test the extent of lithium mineralisation.
Lithium Energy currently has three rigs operating at Solaroz along a 15km zone between SOZDD001 and SOZDD003.
Drilling to date has encountered massive intersections of lithium-rich brines up to 473.5m thick (Hole 4) and lithium concentrations of up to 555mg/l (Hole 1).
The data from the current drill program will be used to define a maiden JORC resource at Solaroz, targeted for the end of June. Notably, Solaroz is located just north of Allkem’s flagship 19.2Mt Olaroz brine project that is already in production.
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.