Lithium Energy (ASX:LEL) has secured a drill rig to advance exploration at its flagship Solaroz Lithium Brine Project located in the ‘highly prospective’ “Lithium Triangle” in Argentina.
The ASX-listed battery minerals company reports drilling will start following the completion of the interpretation of the passive seismic and transient electromagnetic (TEM) surveys designed to identify the most prospective lithium brine targets.
Lithium Energy has previously defined an exploration target for Solaroz of 1.5-8.7 million tonnes of contained lithium carbonate equivalent (LCE) based on a range of lithium concentrations of between circa 500 mg/L Lithium (Li) and 700 mg/L Li.
The objective of the exploration program is to define a maiden JORC Mineral Resource of lithium
Lithium Energy reports that the objective of the exploration program is to define a maiden JORC Mineral Resource of lithium from its 12,000-hectare concession area on the Salar de Olaroz basin (Olaroz Salar), where Allkem (formerly Orocobre) has been producing lithium since 2015.
Solaroz is located directly adjacent to or principally surrounded by lithium majors Allkem Limited (ASX:AKE) and Lithium Americas Corporation (NYSE:LAC).
Lithium Energy is developing Solaroz in Argentina and the Burke Graphite Project in Queensland. Solaroz (LEL:90%) comprises ‘highly prospective’ lithium mineral concessions located strategically within the Salar de Olaroz Basin in South America’s “Lithium Triangle” in north-west Argentina.
The Burke Graphite Project contains a ‘high-grade’ graphite deposit and presents an opportunity to participate in the anticipated growth in demand for graphite and graphite related products.
Lithium Energy was spun out of Strike Resources (ASX:SRK) via a $9 million IPO. Strike remains a major (43%) shareholder of the company.
Images: Lithium Energy Ltd
