Lithium Chile (TSXV: LITH) has increased its resource estimate at its Salar de Arizaro property following additional drilling conducted at the project.
Drill results from hole ARDDH-05 has reportedly added an additional 671,000 tonnes of lithium carbonate equivalent to the project resource. This comes via the hole containing 169,000 indicated tonnes of LCE, and a further 502,000 tonnes of inferred LCE, with the hole notably containing some of the highest lithium grades on the property at 584 mg/l.
The indicated resource is said to come from drill depths between 110 metres and 210 metres, while the inferred resource comes from depths between 210 metres and 424 metres. The estimate is based on a 200 mg/l cut-off.
The Salar de Arizaro property as a whole now has a resource estimate consisting of 1,530,000 tonnes of indicated LCE, and 1,793,000 tonnes of inferred LCE, with the latest data increasing the resource a total of 28%.
“I am extremely pleased on how our Arizaro project is developing. The fact that we have nearly 700,000 metric tonnes of lithium carbonate equivalent from one hole up to 584 mg/l is outstanding and bodes well for the potential to double those resources when the results from hole ARGENTO-03 and ARDDH-06 are known. At over 3.3 million metric tonnes of lithium carbonate equivalent and growing, our Salar de Arizaro is quickly becoming a world class lithium brine deposit,” commented CEO Steve Cochrane.
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The overall resource is expected to change in the future, with production hole ARGENTO-03 recently having completed aquifer testing. Brine mineralization was reportedly established at depths between 350 metres and 470 metres in the production well.
In terms of other drilling, hole ARDDH-04 was drilled to 280 metres depth, with 70 metres of brine-bearing aquifer being intercepted and sample grades of 297 mg/l reported. Hole ARDDH-06 meanwhile was drilled to to 457 metres depth, with 177 metres of brine-bearing aquifer intersected beginning at the 280 metre level. Sample results for that hole have not yet been released.
Lithium Chile last traded at $0.94 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
