Lithium Energy hits significant mineralisation at Northern Solaroz
August 30, 2023 at 03:51 pm EDT
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Lithium Energy Ltd (ASX:LEL) chairman William Johnson tells Proactive the company has intersected lithium-rich mineralisation in the upper aquifer of the newly drilled Payo 1 concession at Solaroz, grading up to 386 mg/L lithium from 209 to 233 metres depth in a highly encouraging initial assay from the project at the heart of South America's renowned Lithium Triangle. The company is still drilling for further brine samples at depths of 233 to 257 metres and 281 to 305 metres, where brines are reportedly showing increasing densities, which indicate potential for higher lithium grades. Assays are pending for these samples.
“We are extremely pleased to have encountered lithium mineralisation at drill hole 7 In the Payo 1 concession at Solaroz, as this highlights the potential for further expansion of lithium mineralisation at the Solaroz Lithium Project – which already holds a significant and strategic lithium resource,” Johnson said.
“The Payo 1 concession is located north of the main Solaroz concession area and has previously not been drilled. Payo 1 was therefore not included in our maiden mineral resource estimate.
“The large size of Payo 1 (1,973 hectares) indicates that the potential now exists for a significant amount of new lithium mineralisation to be delineated here.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
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.