The Australian Junior Company announced that Measured and Indicated Resource grew up to 8.2 Mt LCE.
By Panorama Minero
Update Highlights
• Measured Resource has grown by more than 1.1 Mt of lithium carbonate equivalent (LCE) to 4.2 Mt LCE (a more than 25% increase), defined to a depth of 600 meters over 83 square kilometres. The Measured and Indicated Resource has grown by approximately 10% or 0.9 Mt LCE to 8.2 Mt LCE.
• The updated total resource is 11.1 Mt of LCE over 275 square kilometres.
• This Mineral Resource Estimate (MRE) update incorporates K25D44, which was the second drillhole in the southern sector of the salar to be advanced beyond 600 meters below ground surface (m bgs).
• K25D44 sample results from the planned production interval in the 2023 Feasibility Study between 200 m bgs and 400 m bgs averaged 274 mg/L.
• The results from K24D41 and K25D44, both in the southern sector of the salar, are indicative of a higher-grade lithium zone.
• The updated geologic model including the lithium concentration and drainable porosity values will be used in forthcoming updates to the Ore Reserve estimate and related hydrogeologic model.
• Upgrades from Lilac’s Gen3 to Gen4 media significantly increases lithium recovery rates. These improvements will allow for fewer extraction and injection wellfields in the updated Ore Reserve.
Lake Resources N.L. provided an updated resource estimate for the Kachi lithium brine Project located in Catamarca Province. The updated resource estimate is based on the incorporation of previously announced K25D44 drilling and testing3 results that were received since the last Mineral Resource update in November 2023.
This resource update defines the Mineral Resources to be used in the updated hydrogeologic modelling analysis for the update to the Phase 1 Project Definitive Feasibility Study (DFS) capital and operating expenditure estimates currently underway.
K24D41 has grades of 180-348 mg/L lithium over 445 m (166 – 610 m), with an average of 267 mg/L5. Over the planned DFS production interval (i.e., 200 m bgs to 400 m bgs), the samples averaged 292 mg/L lithium.
K25D44 has grades of 40 mg/L to 302 mg/L over 582 m (40 m to 622 m bgs) with an average of 219 mg/L. However, all samples beyond 200 m depth are well above the average and sample results from the planned production interval in the 2023 Feasibility Study between 200 m bgs and 400 m bgs averaged 274 mg/L.
The results from these two drillholes within planned production interval averages of 274 mg/L and 292 mg/L reveal the emergence of a higher-grade lithium zone in the southern portion of the salar.
The continuity of the hydrostratigraphy and brine chemistry between these two drillholes between 400 m and 600 m depth is the main driving factor to the increase in Measured Resource since November 2023.
