Lithium Energy Ltd (ASX:LEL) has added a third rig to drill a sixth hole at the Solaroz Lithium Brine Project in Argentina, marking a significant milestone in the company's resource definition drilling program, which aims to establish a maiden lithium mineral resource at the project.
Lithium-rich brines
Hole 6, or SOZDD006, is situated in the Olaroz Salar's north-west region, along roughly 15-kilometres. Previous drill holes, namely 1, 3, 4, and 5, have encountered substantial lithium-rich brines with thicknesses of up to 473.5 metres and lithium concentrations of up to 555 mg/l, reaching depths of up to 787.5 metres.
The drilling operations are specifically targeting conductive brines identified through geophysical surveys, aiming to explore depths of up to 600 metres below the surface at SOZDD006. With the addition of a third drill rig, the company is making rapid progress towards its goal.
The Solaroz Lithium Brine Project spans 12,000 hectares and is situated in the Salar de Olaroz basin, part of the renowned Lithium Triangle in South America.
Lithium Energy shares lithium concession rights with major industry players, Allkem Limited and Lithium Americas Corporation.
Along with the three drill rigs spinning on site, the company is conducting brine sampling and geophysical logging for porosity and specific yield measurements pending at Holes 4 and 5.
Once hole completion is finalised at these locations, the rigs will move on to commence drilling at Holes 7 and 8.
Rapid progress
Lithium Energy is buoyed by the rapid progress at the project.
The company's focus on strategic drilling and exploration in the lithium-rich Olaroz Salar positions it favourably within the global lithium market, which continues to experience increasing demand due to its importance in the development of renewable energy technologies and electric vehicles.
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