Lithium Energy says Solaroz is big enough to be sizeable world-class operation
October 30, 2023 at 03:41 pm
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Lithium Energy Ltd (ASX:LEL) chairman William Johnson speaks with Proactive after the company further solidified the position of its flagship Solaroz Lithium Brine Project in Argentina as a highly strategic lithium asset by delivering an upgraded 2.4 million tonnes of indicated lithium carbonate equivalent (LCE) resource based on drilling and extensive geophysics completed so far. This significant milestone achievement follows the company’s publication of a 3.3-million-tonne total indicated and inferred mineral resource estimate (MRE) just four months earlier.
Johnson said, "Following the release of the Maiden Resource estimate of 3.3 Mt of Inferred Resource of LCE in June 2023, continued drilling by the Company has now successfully resulted in the upgrade of 2.4 Mt of LCE from a JORC Inferred to a JORC Indicated category. Having the majority of the Inferred Resource converted to the higher confidence Indicated category is a very significant milestone for the Company, as these Indicated Resources will now underpin the Hatch Scoping Study for Solaroz, the results of which will be released shortly.
Solaroz is located on the Olaroz Salar (salt-lake) in North-West Argentina, one of the best locations in South America’s ‘Lithium Triangle’ for developing large scale lithium brine operations, as evidenced by our Olaroz neighbours Allkem and Lithium Argentina. Allkem has reported production of lithium carbonate from Olaroz since 2015 using traditional brine evaporation, with latest reported cash costs of only US$4,149/tonne LCE and high margins per tonne of LCE"
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Lithium Energy Limited is a battery mineral company. The Company is focused on developing a vertically integrated battery anode material (BAM) business in Queensland. Its Solaroz Lithium Project (Solaroz) comprises 12,000 hectares of mineral concessions hosting a significant lithium discovery located within the Salar de Olaroz Basin (Olaroz Salar) in South Americaâs âLithium Triangleâ in north-west Argentina. The BAM Graphite Project consists of a PSG Facility located in Townsville, QLD and is supported by two high-grade graphite deposits, the Burke and Corella. The Burke and Corella Graphite Projects are located in North Central Queensland approximately 130 kilometers (kms) and 30 km from Cloncurry respectively. The Burke EPM 25443 tenement is located 125 km north of Cloncurry in a graphite mining province adjacent to the Mt. Dromedary Graphite Project. The Corella EPM 25696 tenement is located 40 km west of Cloncurry near the Flinders Highway that links Mt Isa to Townsville.