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Lithium Energy Limited announces a significant maiden JORC Inferred Mineral Resource Estimate (MRE) of 3.3 Million tonnes of Lithium Carbonate Equivalent (LCE) for the Solaroz Lithium Brine Project in Argentina.
Within the 3.3Mt LCE Resource, there is a high-grade core of 1.34Mt of LCE with an average concentration of 405 mg/l Lithium. Further explorative drillings and technical studies are planned for a more comprehensive assessment.
William Johnson, Executive Chairman of Lithium Energy Limited, suggests that Solaroz has the potential to be a world-class lithium project, given its substantial lithium resources, advantageous location in the 'Lithium Triangle', and positive initial indicators for potential economic future brine extraction.
Metallurgical test work by BGRIMM confirmed excellent results, upgrading Burke Graphite to battery-grade material with >96% TGC concentrate grades and >85% recovery rates.
Lithium Energy Limited will now progress with a Pre-Feasibility Study (PFS) for producing battery anode material.
The PFS will be conducted by Wave International and the Measured Group to develop a vertically integrated Purified Spherical Graphite (PSG) manufacturing facility in Queensland, using Burke Graphite as feedstock.
Lithium Energy has appointed Hatch to conduct a scoping study for producing battery-grade lithium carbonate from the Solaroz Lithium Brine Project in Argentina.
The study includes analysis and trade-off studies of a conventional brine evaporation pond process design and Direct Lithium Extraction (DLE) option to determine the optimal processing methodology for lithium brines at Solaroz.
The scoping study will be conducted in parallel with the definition of a maiden JORC Mineral Resource estimate for Solaroz currently being developed.
Lithium Energy Limited has been informed of an error in the assay measurements from its recently completed infill drilling programme at the Burke Graphite Project.
The error affected 8 Reverse Circulation (RC) holes, out of the 20 for which results have been announced, resulting in some measurements incorrectly reporting marginally lower grades of Total Graphitic Carbon (TGC), whilst others reported marginally higher grades of %TGC.
The corrections are relatively minor and are not expected to have a material impact on the Company's overall results.
Significant new intersections of highly conductive brines have been encountered at depth in both current diamond drill holes SOZDD00 2 and SOZDD003 in the northern central section of the Salar de Olaroz basin.
Drillhole SOZDD002 has encountered conductive brines over an interval of ~107 metres in the upper aquifer, from a depth of 186 to 293 metres; drilling has now advanced into fractured shales with highly conductive brines continuing as drilling progresses.
Drillhole SOZDD003 has also encountered conductive brines over an interval of ~107 metres in the upper aquifer, from a depth of 176 to 283 metres.