- Lithium Energy (LEL) receives the final set of environmental approvals needed to begin exploration works at its Solaroz Lithium Brine project in Argentina
- The approvals came from the local government mining authority, and will mean LEL can begin geophysical and drilling exploration over all eight concessions at the project
- Lithium Energy believes the concessions lie over the same lithium rich aquifer that fellow ASX-listed company Allkem has been extracting lithium-rich brine from
- The company now plans to establish a maiden JORC mineral resource of contained lithium in brine
- Shares in LEL are up 8.08 per cent, trading at $1.07
Lithium Energy (LEL) has received the final set of environmental approvals needed to begin exploration works at its Solaroz Lithium Brine project in Argentina.
The Environmental Impact Assessment (EIA) approvals came from the local Jujuy Provincial Government Mining Authority, allowing the company to begin exploration works on the Payo I, Payo 2, Chico I, Chico V, Chico VI, Silvia Irene concessions, located at the north-west section of the Salar de Olaroz basin.
This approval marks the completion of all eight Solaroz concessions approvals, allowing Lithium Energy to advance a program of geophysics and drilling over all the concessions.
The objective of this is to validate the previous exploration target announced by the company as well as to delineate a maiden JORC mineral resource.
Lithium Energy says it believes the concessions at the project lie over the same lithium-rich aquifer within the Olaroz Salar, which fellow ASX-listed company Allkem (AKE) has been extracting and processing lithium-rich brine.
The company plans to test whether the aquifer does extend to under its concessions, through geophysical work and drilling.
Arrangements with local geophysics and drilling contractors are now being finalised with plans to explore across the whole Solaroz project.
“Exploration activity is already underway and will include geophysical studies and drilling across all of the highly prospective Solaroz concessions, with the objective of establishing a maiden JORC mineral resource of contained lithium in brine at Solaroz,” Executive Chair William Johnson said.
“There has been significant M&A activity in the area showing the global interest in the district and lithium brines in particular, and we are very excited to now be in a position to ramp up our exploration efforts at Soloroz.”
Shares in LEL were up 8.08 per cent, trading at $1.07 at 3:54 pm AEST.