Solaroz Drilling Program Targets 2,000 Meters to Boost Lithium Resources

Next Phase of Exploration Begins

Lithium Energy Limited (ASX – LEL) has officially commenced the next stage of drilling at its Solaroz Lithium Brine Project located in Argentina’s prolific lithium-rich Olaroz Salar. This phase involves a targeted program of three rotary and one diamond drill holes, collectively extending to approximately 2,000 meters. The drilling is designed to deepen understanding of the lithium brine resources and assess industrial water availability critical for future operations.

Strategic Funding and Ownership Transition

Notably, this drilling campaign is fully funded by CNGR Netherlands New Energy Technology B.V. (CNNET), which currently holds a 49.9% stake in the Solaroz concession. Under a Share Sale Agreement, CNNET is poised to acquire the remaining 50.1% interest from Lithium Energy by early January 2026, signaling a significant ownership consolidation. This financial backing and impending acquisition underscore CNGR’s commitment to advancing the project’s development.

Technical Focus and Resource Upgrade Potential

The drilling program includes two rotary wells within the Chico I concession, targeting depths around 600 meters to conduct flow testing of lithium brine previously identified. Additionally, a rotary hole in the Payo 2 concession aims to confirm the presence of industrial water, a vital resource for sustainable lithium extraction. A diamond hole in the same concession will serve as an infill test to potentially upgrade the existing lithium resource estimates, which were last reported at 2.4 million tonnes of lithium carbonate equivalent.

Context Within Broader Exploration Efforts

This drilling phase builds on prior work where Lithium Energy completed eight diamond holes and one rotary hole totaling over 5,000 meters. The ongoing exploration across multiple concessions within the Solaroz project area reflects a methodical approach to resource delineation and project advancement. The proximity to other major lithium operations in the Olaroz Salar region further highlights the strategic importance of this asset.

Looking Ahead

As Lithium Energy transitions ownership and continues its drilling efforts, the market will be watching closely for assay results and resource updates. These outcomes will be pivotal in shaping the project’s valuation and its role in the global lithium supply chain, especially amid rising demand for battery metals.