Lithium exploration company Lake Resources N.L. (ASX:LKE, “Lake” or “LKE”) is pleased to report that drilling of lithium brines within porous sands, which are excellent host horizons, is progressing at the Company’s 100%-owned Kachi Lithium Brine Project in Catamarca. Drilling has been slower than anticipated due to the challenging nature of the sandy horizons with drilling advancing 25m in January. This has delayed the anticipated brine samples for assay results. As a result, Lake has contracted a larger drilling rig for immediate commencement to advance drill progress. The rig that has been contracted is a rotary rig better suited for testing brines rather than geology. Drilling is aimed at reaching a target depth of 300m to intersect further brine horizons which are anticipated at depth. These may show significant results as suggested by nearby third party drilling with results above 250 mg/L lithium below 170m depth.
25m in January!!! Aiming to drill 300m.
Will it take 10 mths with"advanced" rig? =300m:25=12mths.
May have results B4 Xmas.
Remember Indochina under PR management?
LKE Price at posting:
18.0¢ Sentiment: None Disclosure: Not Held
