SQM to affix Talga in Swedish Lithium Challenge

• Drilling and geophysics point out the existence of a giant brine basin at Liberty Lithium Brine Challenge USA, with brine intersected over 400 m vertically.
• oGeological similarities confirmed with the close by Silver Peak lithium brine producer Albemarle, in Clayton Valley Nevada, with encouraging preliminary lithium assay outcomes, aquifers and salinity.
• Lithium brine specialists have proposed further drilling to intersect deep lithium brines within the centre of the basin, in a extra beneficial setting, additional west of latest drilling.
• Discussions proceed with numerous USA based mostly battery provide contributors who’re eager to work with potential new lithium builders throughout the USA, together with with Stardust who goal to IPO in June.
• QXR and IG Lithium Choice Agreements are being amended to facilitate endeavor additional drilling.
• QXR goals to supply an replace quickly on progress with gold exploration in Queensland.

Porous conglomerates saturated with brines had been intersected beneath superb grained lake sediments with sandy layers. The geology intersected may be very encouraging as it’s much like the manufacturing sequences of Clayton Valley Nevada, the place Albemarle’s producing lithium brine deposit is positioned ¹. Detailed downhole geophysics along with preliminary downhole brine sampling (packer sampling) reveals rising salinity with depth, along with massive brine volumes, each encouraging for locating a doubtlessly financial lithium brine deposit within the properties.

Though the utmost lithium assay values had been 50mg/l Li over 15 metres close to the bottom of gap #2 (Desk 2), the salinity and conductivity elevated with depth, at ranges much like recognized producers. Ingress of recent water into the aquifers could clarify the decrease lithium values in drill holes #1 and #2 being positioned near a variety entrance fault on the sting of the basin. These preliminary holes had been positioned close to the sting of the basin partially for logistics and entry causes in addition to the floor lithium anomaly.

Gap #2 additionally intersected thick porous brine horizons – crucial for future success- which is taken into account encouraging, along with the geological similarity to Clayton Valley NV (Albemarle’s Silver Peak mine). These similarities embrace basal porous conglomerate items containing brine beneath finer grained lake sediments. Nevertheless, one of the best producing horizons at Clayton Valley are tuff items throughout the sediment package deal which haven’t been intersected in drillholes to this point, however which outcrop 4km to the southwest of gap #2 (Determine 4).

Outcomes had been analysed by exterior lithium brine specialists to supply interpretations, together with the globally recognised Hydrominex Geoscience Consulting. Lithium brine specialists have suggested further drilling is required to doubtlessly intersect deep lithium brines within the centre of the basin, additional west of drilling undertaken by QXR, based mostly on lab outcomes to this point.

QXR Managing Director, Stephen Promnitz, mentioned:“QXR has outlined a brand new massive scale brine basin, saturated with brines, on the Liberty Lithium Brine Challenge. A big near-surface brine discipline with lithium potential is uncommon to this point within the USA. The geological setting, with conglomerates loaded with brines, is much like Albemarle’s producing deposit. We’re but to seek out tuff horizons much like Clayton Valley, that are one of the best brine aquifers – though they do outcrop close by, suggesting they could exist throughout the basin. Floor and downhole geophysics make it compelling for additional drilling to the west, within the centre of the basin below deeper sediments, which can intersect larger grade lithium brine, in comparison with the drilling to this point.”