Lake Resources NL (Lake) has discovered multiple lithium brines over a zone of 144 metres (from 172 – 316m) at its 100 per cent owned Cauchari Lithium Brine Project in Argentina.
Lithium values from 340 to 538 mg/L were returned from multiple high flow brines with low Mg/Li ratios of 2.73.0.
The brine zones and target sand horizon were intersected higher in the sequence than expected.
The hole was terminated at 460m due to less permeable clay horizons from 326m, although conductive brines were intersected at 356m and 386m.
Detailed sampling with a packer instrument has commenced from 387m up the hole, to be followed by analysis, casing and geophysics, with the next rig to be moved to Lake’s Olaroz Project to commence drilling.
The brine zones confirm continuity from similar brines in adjoining major billion-dollar projects progressing to production from 2020 located in the heart of the Lithium Triangle, including Ganfeng/Lithium Americas (LAC) and the Advantage Lithium (AAL)/ Orocobre joint venture.
Lake’s Managing Director, Steve Promnitz, commented that Lake has a major discovery at Cauchari, with the potential to expand the zones in further drilling.
“The target brine zone has high grades and flow rates but intersected higher than anticipated and has all the same hallmarks of the adjoining project which is now moving into production. This is a great discovery adding to the development projects in the Lithium Triangle.”
The company plans to build on these exciting results.
“We next plan to drill for the first time on our leases at Olaroz, which is now a focus given these favourable results and where we are targeting a 30 kilometre belt as an extension to the adjoining production area, to show its potential before more drilling at Cauchari,” Mr Promnitz said.
“If successful, Olaroz would provide a third advanced project, adding to Cauchari and our world-class Kachi project which will be essential new supply as demand for lithium rises over the next nine years due to the lithium-ion battery revolution in energy and transport.”