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Lake Resources NL (ASX:LKE) Managing Director Steve Promnitz was recently interviewed on the Investor Stream podcast.
Lake Resources NL (ASX:LKE) Managing Director Steve Promnitz was recently interviewed on the Investor Stream podcast. In the interview, Promnitz discussed the company’s final drill results from its Cauchari lithium brine project in Argentina. According to the press release, the company has intersected 506 meters of high-grade lithium brine on the property to date. A test sample from the hole averaged 444 mg/L lithium over 476 meters from a depth between 132 meters and 608 meters.
When asked about the size of the possible resource, Promnitz believes that the zone has a strike length of 11 kilometers running north to south from the hole. Promnitz is “fairly certain” that they can further develop the mineralized zone. However, the company plans to start drilling at its Olaroz lithium brine project within the next few weeks, before continuing with its activities at Cauchari. Lake Resources intends to use the same exploration approach used at the Cauchari project at Olaroz. Lake Resources’ Cauchari and Olaroz projects are surrounded by major mining companies in the area, including Lithium Americas Corp. (TSXV:LAC), SQM (NYSE:SQM), Ganfeng Lithium and Advantage Lithium Corp. (TSXV:AAL).
“Independent assays and detailed sampling from Lake Resources’ Cauchari drilling has conclusively demonstrated it is an extension to the adjoining large resources – a project with the world’s largest defined lithium brine resource. We are in the same basin and confident of growing the project with further drilling given we have a seven-kilometer strip along the salt lake. The approach to drill brines under alluvial cover around a salt lake has been proven, and we aim to repeat that approach at our Olaroz project,” said Promnitz.
To listen to the full interview, click here.