Lithium Energy Ltd (ASX:LEL) is continuing to showcase the world-class potential of its flagship Solaroz Lithium Brine Project in Argentina, this time delivering its biggest-ever intersection of lithium-rich brines to date.
Initial assays from drilling at the project located in the heart of South America’s world-renowned Lithium Triangle have confirmed over 400 metres of lithium-rich brines of up to 508 milligrams per liter (mg/L) at SOZDD004, the fourth hole currently being drilled at Solaroz.
Meanwhile, a total of 369.5 metres of conductive brines across the upper and lower aquifers of the fifth hole, SOZDD005, have been returned, with assays up to 479 mg/l lithium.
Both SOZDD004 and SOZDD005 are currently at depths of about 650 metres and 545 metres, respectively, with drilling yet to reach the aquifer basement.
Further samplings are also ongoing.
Collection of core samples for analysis and testwork.
Racing towards maiden resource
Lithium Energy executive chairman William Johnson said the significance of the intersections at SOZDD004 and SOZDD005 cannot be overstated given their proximity to the first and third holes, which recent geophysics results confirmed a 15-kilometre zone of lithium-rich brines.
“Drillhole SOZDD004 has intersected over 243 metres of conductive brines in the Deep Sand Unit so far, with reported assays of lithium up to 508 mg/litre and with drilling yet to reach the aquifer basement, and assays pending.
“Similarly, drillhole SOZDD005 has intersected 206 metres of conductive brines in the Deep Sand Unit, with assay results to date of up to 479 mg/litre.
“These drillholes have demonstrated the potential of the Deep Sand Unit to host substantial volumes of lithium higher in grade compared to the upper aquifer.
“Further assay results to current drill hole depth are yet to be received, with drilling ongoing in each hole to test the basement depth of the Deep Sand Unit. Therefore, there is potential for the intersections to increase in each hole.
“These recent results are tremendously exciting, as they provide further confirmation of a potentially world-class resource of lithium at Solaroz.
“A third drilling rig is preparing to mobilise to site and with three rigs soon to be operating concurrently, we are rapidly advancing towards defining our maiden JORC resource at Solaroz.”
Chairman Johnson and Solaroz senior geologist Guillermo Luque at the SOZDD004 drill rig.
About the company
The Solaroz Project comprises 12,000 hectares of highly prospective lithium mineral concessions in the Salar de Olaroz Basin in north-west Argentina.
Aside from Solaroz, Lithium Energy is developing the 100%-owned Burke Graphite Project in Queensland.
The Burke Project contains a high-grade graphite deposit, presents the company with an opportunity for exposure to the anticipated strong growth in demand for graphite and its related products.