Lithium Energy (ASX:LEL) has delivered a ‘significant’ maiden JORC inferred Mineral Resource Estimate (MRE) of 3.3 million tonnes (Mt) of lithium carbonate equivalent (LCE) for the Solaroz Lithium Brine Project in Argentina.
Within the 3.3Mt LCE resource is a ‘high-grade’ core of 1.34Mt of LCE with an average concentration of 405 milligrams per litre (mg/l) of lithium (at a 350 mg/l lithium cut-off grade).
The company says this MRE confirms the project as a ‘highly strategic’ lithium asset, as it is ‘substantial’ in size and located adjacent to Allkem’s (ASX:AKE) Olaroz lithium brine production facility.
Commenting on the MRE, Lithium Energy Executive Chairman William Johnson says: “This maiden resource estimate of 3.3 million tonnes of LCE confirms the potential for Solaroz to be a world-class lithium project, with reported lithium grades, brine volumes, Mg/Li rations, and specific yields all being positive indicators for the potential economic future brine extraction at Solaroz.
“With the establishment of the significant mineral resource, the company will now focus on fast-tracking the development of Solaroz”
With the establishment of the significant mineral resource, the company will now focus on fast-tracking the development of Solaroz.
Drilling will continue to advance at Solaroz, targeting additional areas where potential for further lithium mineralisation has already been identified by geophysics, together with further infill drilling to upgrade the maiden inferred resource and test production wells planned in support of the engineering and development studies for Solaroz.”
Further drilling is planned to upgrade the resource from an inferred category, with test production wells set to be installed in support of the ongoing engineering and other technical and feasibility studies relating to the commercial development of the project.
Lithium Energy reports this initial LCE resource comprises an area covered by the first 5 holes of an initial 10-hole drilling program, together with extensive geophysics, and includes portions of the ‘Central Block’ concessions and the southern Mario Angel concession.
These zones total 4,777 hectares out of the 12,000-hectare area of the Solaroz Project concessions.
Lithium Energy is a battery minerals exploration company focused on its Solaroz Lithium Brine Project in Argentina and the Burke Graphite Project in Queensland, Australia. The company had $8.049 million cash at hand as of 31 March 2023, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Lithium Energy Ltd
