Lake Resources NL (ASX: LKE) is pleased to confirm that a second, larger diamond drill rig operated by Foraco Argentina SA has commenced drilling at Lake’s 100% owned Cauchari Lithium Brine Project.
- Larger diamond drill rig has commenced drilling at Lake’s Cauchari project with capability to drill up to 500 metres
- Two rigs now operating at Cauchari targeting various depths
- LKE now has greater certainty to produce assays from a ~350-450m deep target sand horizon
Lake Resources NL (ASX: LKE) is pleased to confirm that a second, larger diamond drill rig operated by Foraco Argentina SA has commenced drilling at Lake’s 100% owned Cauchari Lithium Brine Project (Figure 1).
The larger more capable 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 both drill holes is LKE’s immediate priority.
Foraco is the third largest global mineral driller, operates in 22 countries and has a global fleet of drilling rigs with a well-trained international workforce and a proven track record.
Foraco’s drilling program will occur concurrently with current rotary rig drilling operations. The rotary rig has drilled to a depth of 234m and 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 three new holes including one production hole on their adjacent leases. Lake is targeting exactly the same san horizons.
Lake’s Managing Director Steve Promnitz said from site: “With one successful drill hole, we can demonstrate the extension of the adjoining resource which is the largest in the world and rapidly being developed into production next year. We have every confidence in Foraco’s drilling capabilities and experience to produce the representative samples we need. It is inspirational to see 40 trucks operating next door with excavators building massive evaporation ponds and roads within sight of our drill rigs. Lake is drilling in a Grade A location for lithium brines.”