Second, Larger Diamond Drill Rig Advances at Lake Resources’ Cauchari Lithium Brine Project

Lake Resources NL (ASX: LKE) announced today that a second, larger diamond drill rig operated by Foraco Argentina SA has progressed drilling to a depth of 141 metres at Lake’s 100% owned Cauchari Lithium Brine Project

  • New larger diamond drill rig has advanced at Lake’s Cauchari Lithium Brine Project to a depth of 141 metres
  • New rig is targeting a ~350-450m deep sand horizon to produce samples, with the capability to drill up to 500m
  • Two rigs now operating at Cauchari targeting various depths adjacent to world-class brine
    projects.

Lake Resources NL (ASX:LKE) announced today that a second, larger diamond drill rig operated by Foraco Argentina SA has progressed drilling to a depth of 141 metres at Lake’s 100% owned Cauchari Lithium Brine Project (Figure 1, 5). Located adjacent to world-class brine projects either in production or under development, the latest drilling aims to unlock further value from this emerging project.

The larger diamond drill rig is targeting a sand horizon estimated between 350-450 metres deep and will drill to 500 metres. Two rigs are now operational at Cauchari and reporting results from representative samples is LKE’s immediate priority.

Foraco, the third largest global mineral driller, is operating concurrently with rotary rig drilling operations. The rotary rig is targeting a shallower sand horizon of between 300-350m.

Both Lake’s rigs are operating ~500m from where Ganfeng/Lithium Americas is about to drill a further production hole on their adjacent leases. Lake is targeting the same sand horizons.

Lake’s Managing Director Steve Promnitz said: “Lake aims to generate brine samples showing the extension of the adjoining resource, which is the largest in the world, into Lake’s leases.

“Recent progress has been encouraging as we aim to advance this project as quickly as possible for the benefit of shareholders. Notably, Lake is the only junior company drilling next to a major pre-production site in the best location for lithium brines, as demonstrated by Ganfeng recently paying over US$350 million for 50% of the adjoining project.”

Lake’s Cauchari project is part of Lake’s 100% owned lithium portfolio in the Lithium Triangle, encompassing its Kachi, Olaroz-Cauchari and Paso brine projects. Demand forecasts point to the need for an eight-fold increase in lithium supply over the next nine years and amid supply constraints, new projects such as Lake’s will be essential to support the lithium-ion battery revolution in energy and transport.

Click here for the full press release.

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Recreational cannabis remains illegal in all Australia’s states and territories with the exception of the Australian Capital Territory (ACT). But could that change in the future?

So far there are no clear indicators as to when or if Australia could legalise recreational cannabis, but attitudes seem to be changing. Public support is growing, and there’s even some political acceptance.

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Data Review Enhances Prospectivity at Galan’s Greenbushes South Lithium Project

Highlights:

  • CSIRO’s historical datasets show prospectivity for Galan’s Greenbushes South Lithium Project
  • Historical laterite geochemistry data collected prior to mining at Greenbushes
  • Elevated abundances of pathfinder elements display a well-defined anomaly adjacent to Greenbushes South
  • Dispersion of elements into the laterite profiles include arsenic, tantalum, tin and antimony among others
  • Galan to commence sampling and mapping at Greenbushes South next month

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that it has completed a review of historical CSIRO data which enhances the prospectivity of its Greenbushes South Lithium project.

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Data Review Enhances Prospectivity at Galan’s Greenbushes South Lithium Project

Highlights:

  • CSIRO’s historical datasets show prospectivity for Galan’s Greenbushes South Lithium Project
  • Historical laterite geochemistry data collected prior to mining at Greenbushes
  • Elevated abundances of pathfinder elements display a well-defined anomaly adjacent to Greenbushes South
  • Dispersion of elements into the laterite profiles include arsenic, tantalum, tin and antimony among others
  • Galan to commence sampling and mapping at Greenbushes South next month

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that it has completed a review of historical CSIRO data which enhances the prospectivity of its Greenbushes South Lithium project.

Keep reading... Show less

AIS Resources’ Australian Yalgogrin Gold Project’s first drill hole returns gold intercepts averaging 1.5g/t over 87 meters including 0.9 meters at 9.3 g/t

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A summary of the intervals and average assays is set out below from the top of the core:

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Resolution Minerals Ltd Drilling Program at Sunrise Gold Prospect Completed

Adelaide, Australia (ABN Newswire) – Resolution Minerals Ltd (ASX:RML) (FRA:NC3) is pleased to announce that it has completed the Company’s first drilling program on the Sunrise Gold Prospect at the 64North Project in Alaska. Drilling was conducted along an existing access road, targeting outcropping granite hosted mineralisation, analogous in style to Kinross’s Fort Knox Gold Mine, which is one of Alaska’s most profitable mines. The Sunrise Prospect was identified in 2020 by a RML trenching program and is located less than 5km from Northern Star’s operating Pogo Gold Mine.

Summary

– A 1400m long “fence line” of 27 shallow RAB drill holes designed to test outcropping mineralisation at the Sunrise Prospect has been completed.

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