Cauchari Lithium-Potash Project Drilling Completed

The diamond drilling program has been completed at the Orocobre Limited (TSX:ORL,ASX:ORE) Salar de Cauchari properties in Jujuy Province, Argentina.

As quoted in the press release:

Highlights:

• Six drill holes completed at Orocobre’s Cauchari Lithium – Potash Project to depths up to 249 m.
• Drilling intersected extensive halite units with variable porosity, interbedded with units of sand, silt and clay.
• Results received from four holes including 244 m in CAU001D @ 548 mg/l Li (from 5-249 m) and 177 m @ 403 mg/l Li (9-186 m) in CAU002D.
• Lithium geochemistry is similar to the Olaroz project, with average Mg/Li ratios of 2.6 to 4.9 in the three holes for which these results have been received to date. The SO4/Li ratio is higher than Olaroz, with values from 44 to 177 for these three drill holes.
• Cauchari provides an additional source of lithium brine for Orocobre to expand production at its planned Olaroz facility given similarities in brine and the close proximity.
• A resource estimate will commence when remaining geochemical and porosity data is received, with expected delivery in 2Q 2012.

Orocobre Managing Director, Richard Seville, said:

“Results are encouraging with drill intersections of 244 m @ 548 mg/l Li in CAU001D (from 5-249 m) and 177 m @ 403 mg/l Li (9-186 m) in CAU002D. The brine Mg/Li ratio is low, averaging between 2.6 and 4.9 for the first 3 holes, while the SO4/Li ratio averages between 44 and 177, increasing towards the south and east of the salar.”

Click here to read the Orocobre Limited (TSX:ORL,ASX:ORE) press release