- Lithium Energy (LEL) identifies a substantial exploration target for its flagship Solaroz Lithium Brine Project, located in Argentina
- The target has an estimated of 1.5 million tonnes to 8.7 million tonnes of contained lithium carbonate equivalent
- However, there has not been enough exploration undertaken at the target to estimate a mineral resource
- On the market this morning, Lithium Energy is down 2.33 per cent and is trading at 42 cents per share at at 11:30 am AEST
Lithium Energy (LEL) have found a substantial exploration target for
its flagship Solaroz Lithium Brine Project in Argentina.
The target has an estimate of 1.5 million tonnes to 8.7 million tonnes of contained lithium carbonate equivalent (LCE) based on a concentration range of between 500 milligrams and 700 milligrams of lithium.
However, according to the company, there has not been enough exploration undertaken at the target to estimate a mineral resource, and it is uncertain if further exploration will result in a mineral resource estimate.
A detailed conceptual geological model for the Solaroz Project has now been established, which will provide a pathway to a mineral resource and advance the project.
This exploration target shows the potential of the Solaroz Project.
“The Solaroz Project offers tremendous upside potential for Lithium Energy, given its highly prospective and strategic location next to Orocobre’s producing lithium brine project. We are targeting the same Lithium brine mineralisation from the Olaroz Salar as that currently being extracted by Orocobre,” Executive Chairman William Johnson said.
“This exploration target confirms the Solaroz Project as a Lithium project of
potentially world-class scale. The long-term prospects for lithium are very strong, driven primarily by the expected growth in demand for lithium batteries for electric vehicles and a more sustainable way of living.”
On the market this morning, Lithium Energy was down 2.33 per cent and traded at 42 cents per share at 11:30 am AEST.