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.
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Lithium Energy Ltd
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