Lithium Energy gets government approval to advance lithium brine exploration at Solaroz
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The final set of approvals at Lithium Energy’s Solaroz lithium brine project has been received, setting the scene for geophysics and drilling to begin adavance on eight concessions totalling 120,000 hectares.
Lithium Energy (ASX:LEL) has just received EIA approval from the Provincial Authority to start exploration on the project’s Payo I, Payo 2, Chico I, Chico V, Chico VI, Silvia Irene concessions, located at the north-west section of the Salar de Olaroz basin in Argentina.
This approval follows recent approvals received for the Payo and Mario Angel concessions, and means all eight Solaroz concessions have now been approved.
Exploration works will focus on validating the project’s conceptual exploration target of 1.5-8.7 million tonnes of contained lithium carbonate equivalent and delineating a maiden JORC mineral resource the Solaroz, which sits directly adjacent to majors such as Allkem Limited (ASX/TSX:AKE) and Lithium Americas Corporation (TSX/NYSE:LAC).
Lithium Energy executive chairman William Johnson said the receipt of the final set of government approvals for exploration at Solaroz was a significant milestone and major value catalyst for Lithium Energy.
“In our view, there is no better address in the world to be exploring for lithium than the prolific lithium triangle, and our ground is directly adjacent to or principally surrounded by two of the largest lithium discoveries globally owned by Allkem and Lithium Americas,” he said.
Furthermore, Allkem’s recent upgrade to their Olaroz Resource in concessions adjacent or nearby to those held by Lithium Energy has provided support for LEL’s conceptual exploration target at Solaroz.
“Exploration activity is already underway and will now expand to include geophysical studies and drilling across all of the highly prospective Solaroz concessions, with the objective of establishing a maiden JORC Mineral Resource of contained lithium in brine at Solaroz,” Johnson explained.
“There has been significant M&A activity in the area showing the global interest in the district and lithium brines in particular, and we are very excited to now be in a position to ramp up our exploration efforts at Soloroz.”
Lithium Energy hopes to locate lithium bearing brines of economic interest and obtain information related to the hydrogeological and geochemical characteristics of the brine rich aquifer that comprises the Olaroz Salar underneath the Solaroz concessions.
The company is also planning to undertake a programme of TEM geophysics beginning in May, to identify the location and thickness of potential lithum-hosting conductive brines underneath the concessions.
Discussions are taking place with several local drilling contractors to secure suitable for the 2,500 – 5,000m of rotary and diamond-core drilling program once the interpretation of the geophysical surveys is complete.
Additionally, LEL will undertake an assessment of relevant mine economic criteria to assist in developing a pathway to complete a of feasibility study, including the delineation of a maiden mineral 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.