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 companys 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 Americas 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"
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Lithium Energy Ltd