- Lithium Energy (LEL) receives assay results from the sixth drillhole at its Solaroz project, Argentina, showing the highest lithium concentration grade to date, at 594 milligrams per litre
- The drillhole lies within the Central Block concession area, covering LEL’s maiden inferred mineral resource estimate of 3.3Mt of LCE
- Drilling commences at drillhole seven as the company tests the northern block of concessions that lie outside the area encompassing its initial maiden MRE
- LEL shares are up 0.70 per cent, trading at 71.5 cents at 1:11 pm AEST
Lithium Energy (LEL) has received assays from the sixth drillhole at its Solaroz project in Argentina, which returned the highest lithium concentration grade to date of 594 milligrams per litre.
The company’s drillhole lies within the Central Block concession area, which covers LEL’s maiden inferred mineral resource estimate (MRE) of 3.3 million tonnes of lithium carbonate equivalent (LCE).
The drillhole reached a depth of roughly 623 metres and intersected 356 metres of lithium-rich brines across upper and lower aquifers, with concentrations of up to 594 mg/L.
LEL Executive Chairman William Johnson said the results would be used to review the company’s existing MRE and potentially upgrade it to an indicated resource category.
“Drilling is ongoing with hole seven underway, with this first step-out drill hole targeting the previously undrilled Northern Block of concessions at Solaroz,” he said.
The company has kicked off drilling at drillhole seven to test the northern block of concessions that lie outside the area encompassing its initial maiden MRE.
LEL shares were up 0.70 per cent, trading at 71.5 cents at 1:11 pm AEST.