ASX-listed battery minerals company Lithium Energy (ASX:LEL) reports it has successfully completed the maiden diamond drillhole from an ongoing maiden diamond drilling (DD) campaign at its flagship Solaroz Lithium Brine Project in Argentina.
The results, generated by the maiden and only drillhole completed to date, SOZDD001, have identified up to 235m of lithium brine mineralisation across the upper and lower aquifers within the drillhole.
It is also reported that preliminary results returned from packer sampling of conductive brines have returned highly encouraging lithium concentrations up to 555mg/L, with positive flow rates and low Mg/Li ratio.
Unfortunately, drilling was unable to continue any deeper into the lower aquifer basement rock due to challenging drilling conditions, which would have resulted in damage to the drillhole if further drilling was conducted.
The challenging drilling conditions present within the lower aquifer have also prevented the company from collecting any packer samples from 293m to the bottom of the hole.
Full hole assays are currently pending with core samples having been sent to a US laboratory for centrifuge brine extraction, chemical analysis and porosity and specific yield testwork, in order to deliver a potential maiden JORC Mineral Resource Estimate (MRE).
Addressing the completion of drilling, Lithium Energy Executive Chairman, William Johnson said: “Encountering up to 235m of cumulative lithium brine mineralisation for our maiden drillhole at Solaroz is a ‘significant’ lithium discovery for the company. Lithium grades of up to 555mg/l from packer sampling taken during drilling, together with positive measured flow rates and relatively low Mg/L ratio are also very positive indicators for the delineation of a potentially ‘significant’ maiden JORC resource at Solaroz.
“Encountering up to 235m of cumulative lithium brine mineralisation for our maiden drillhole at Solaroz is a ‘significant’ lithium discovery for the company”
Lithium Energy is now advancing with the next diamond drillholes in its program. In this regard a second rig is currently mobilising to site and with 2 rigs operation, the company is accelerating the planned 10 hole, 5,000m drilling program with the aim of expediting the establishment of a ‘significant’ maiden JORC resource of lithium at Solaroz.”
The company also notes it will move forward with geophysical hole logging before the first drill rig moves onto the next drillhole in the 10 hole, 5,000m drilling campaign.
In addition, it is reported a second drill rig is currently being mobilised to the drilling site in order to accelerate drilling efforts at the ‘exciting’ discovery within the lithium triangle, situated adjacent to specialty lithium chemicals company Allkem’s (ASX:AKE) Olaroz project.
Lithium Energy is an ASX-listed battery minerals company with a focus on sustainability and transitioning the world from reliance on fossil fuels to renewables. The company’s flagship Solaroz project is located in Argentina’s Salar de Olaroz Basin and comprises 12,000 hectares of highly prospective lithium mineral concessions, with Lithium Energy owning 90% of all associated tenements. The company believes the aquifer which supplies the lithium-rich brine being extracted by Allkem potentially extends under the Solaroz tenements.
With the maiden DD program still ongoing, Lithium Energy announces it remains focused on establishing a maiden JORC MRE of lithium for the Solaroz project.
Images: Lithium Energy Ltd
