Austroid recently acquired three lithium brine projects in Argentina’s Jujuy Province from Lake Resources (ASX: LKE), within South America’s “Lithium Triangle”,which hosts approximately 75% of the world’s supply of lithium (Figure 1).
Totalling over1,000km2, Austroid’s projects lie within the Puna region inArgentina in the basins of the Jama, Olaroz and Cauchari salars (Figure 2). Theprojects are centred approximately 250km by road, west northwest of theprovincial capital city of San Salvador de Jujuy.
The city of San Salvador de Jujuy is serviced byan international airport and an extensive rail network to the nation’s capital,Buenos Aires, approximately 1,300km to the southeast. The nearest deep waterport is in Antofagasta, Chile, approximately 540km to the west by road.
Lithium brinesare typically hosted in permeable Quaternary sediments and evaporites (usuallyhalite), within isolated sedimentary basins, regionally referred to as salarsor salinas.
The region hostslithium brine Mineral Resources in various stages of development, including the Cauchari-Olaroz, Olaroz SdJ, Solaroz and Rincon projects, managed by MineraExar S.A., Sales de Jujuy S.A., Hananta S.A. and Rio Tinto, respectively. Combined, the projects host over 60Mt LCE with grades ranging from 397mg/L Lito 1,267mg/L Li.
Jama Project
Austroid’s Jama lithium brineproject comprises twenty-one (21) claims surrounding the Jama and Paso salars(Figure 3), covering approximately 509km2. At an elevation of4,100m, the project is approximately 300km by road, west northwest of theprovincial capital city of San Salvador de Jujuy (Figure 2).
The Jama basin is host primarilyto the Jama and Paso salars. Although they are relatively small by comparisonwith other salars in the region, the Jama basin is similar in size to the Rincon basin, which hosts the Rincon Mineral Resource of over 10Mt LCE.
Work by previous owners includes geophysical surveys and drilling. The geophysical surveys indicated thepotential for lithium-bearing brines at depths of around 200m to 400m belowsurface. Two of the follow-up drill holes intersected lithium brine in that depth range, returning:
Olaroz Project
Austroid’s Olaroz lithium brine project is at an elevation of 4,000m, and is located approximately 230km byroad, west northwest of the provincial capital city of San Salvador de Jujuy(Figure 2). The project comprises twenty (20) claims, covering more approximately453km2 in the northeastern margin of the Olaroz basin (Figure 5).
The Olaroz salar (Figure 6) hoststhree significant lithium brine projects:
Austroid’s Olaroz project is in a very earlystage of exploration. The previous owner successfully completed two drill holesto locate fresh water, to support future drilling operations and potentialproduction.
Cauchari Project
Austroid’s Cauchari lithium brineproject is at an elevation of 3,900m, and is located approximately 300km byroad, west of the provincial capital city of San Salvador de Jujuy (Figure 2).Austroid’s project comprises six (6) claims, covering approximately 55km2in the southwestern margin of the Cauchari-Olaroz basin (Figure 7).
The Cauchari salar hosts twosignificant lithium brine projects:
The previous owner completed three (3) drillholes to designed depth and reported a best result of 343m @ 493mg/L Lifrom hole CW-DDH-005 (Figure 8).
