2 weeks Ago By PRNewswire
VANCOUVER, BC , April 23, 2025 /CNW/ - Lithium Energi Exploration Inc. LEXI LXENF (the "Company" or "LEXI") is pleased to announce that it has completed drilling at the Antofalla North Project and the Antofalla South Project, in the south of the salar. The Campaign consisted of 1,003.
4 meters across the northern and southern properties. Three diamond holes were drilled in the northern LEA I, LEA XXXIV and LEA V properties. Two diamond holes to 200 m depth, and a third hole to 302 m depth, were drilled in the LEA XXVI property in the south of the salar.
The average depth of all holes across these two Campaigns was 284 m . Core samples were collected to provide measurements of porosity. Samples were collected every 12 m , with porosity results yet to be received from the laboratory for the second program.
Brine sample analyses have been conducted at the independent Alex Stewart Laboratories to yield full spectroscopic analysis of brine chemistry and lithium concentrations (see Tables 2 and 3 for results, together with the sample widths). The Alex Stuart laboratory in the city of Jujuy was used as the primary laboratory, with the laboratory in Mendoza used as the check laboratory. All brine samples have now been received from the program.
The Company used the services of specialized downhole geophysical contractor, Zelandez Limited, to collect borehole magnetic resonance (BMR) measurements of in-situ porosity (specific yield) in the holes. This provides detailed measurements of porosity on a centimeter-scale, to understand changes in porosity with depth and location, providing high quality detailed information on the porosity of the sediments. Additionally, data from spectral gamma and resistivity logging tools, was collected, to provide additional lithological information.
The Antofalla basin is a long, narrow, fault-based graben – identified as one of the world's largest depressions, hosting extensive lithium-bearing brine – although the total depth in the basin is not well known. The results of the brine sampling are presented in Tables 2 and 3, for the southern and northern drilling programs. The brine sample results are highest from the southern LEA XXVI property, which is located on the western side of the salar.
The lithium concentration increases from north to south through the Antofolla South Project (LEA XXVI), with the lithium concentration increasing from an average of 238 mg/l Li in the northern hole DDH01, to 308 mg/l Li in the central hole DDH5 and 412 mg/l Li in the southern hole DDH3. Lithium concentration also showed an increase with depth in the holes, suggesting the influence of surficial infiltration of surface water and dilution of brine, most notably in the northern hole, DDH01 LEA XXVI. The suggestion from the TEM and MT geophysics, and knowledge on other salar systems, is that lithium-bearing brine will extend west off the salar below areas of gravel, and potentially into porous Tertiary age sediments or volcanics.
This concept remains to be tested by future drilling. In LEA XXVI brine is present in a surficial sequence of salt, which is underlain by sands and gravels, which vary in their degree of compaction and porosity. Drilling is not believed to have intersected tertiary terrestrial sediments, which are present around the salar margins, and potentially form the base of the salar.
These southern drill holes have terminated in gravel units, which are believed to be alluvial fans, formed from sediment eroded from the salar margins and deposited within the salar, and later covered by salt. This is a pattern noted in many other salar basins. The northern drill holes intersected a sequence of interbedded loose friable sands and compact gypsum sands, gravels, sands and occasional volcanic units across the LEA XXXIV, LEAI and LEAV properties on the west and east of the salar.
These drillholes are in the northern part of the salar, within Catamarca province, north of the Antofalla village. Lithium concentrations in the northern properties were lower than those in the LEA XXVI property in the south of the salar, with lithium concentrations in the northern properties interpreted to be less concentrated than those in the center and south of the salar, which are interpreted as the nucleus of the salar. Lithium concentrations increased down hole from more dilute concentration around 100 mg/l Li, (with a low of 76 mg/L Li ) as near surface values, to a high of 189 mg/L downhole in DDH01-LEA 1, at 251- 269 m .
The location of drill holes was based on previous time-domain/transient electromagnetics studies (the "TEM"). An extensive TEM survey was conducted over all the northern properties by geophysical contractor Quantec. TEM and MT was conducted in the LEA26 property by geophysical contractor GeoResource, to allow deeper imaging of the conductive brine unit, confirming it is hundreds of meters thick, and providing resolution of geological units at depth.
Samples were submitted with duplicate and standard samples, which show acceptable comparison between primary and duplicate samples and standard samples, compared to the certified standard concentration. The technical content of this news release has been reviewed and approved by Mr. Murray Brooker , P.
Geo., a consultant to the Company, and a qualified person as defined by National Instrument 43-101. Table 1: Location and characteristics of drillholes from the northern and southern drilling programs HOLEID EASTING_GK2 NORTHING_GK2 DIP AZIMUTH DEPTH m DRILLHOLE DIAMETER PROJECT DDH01-LEA XXVI 2654736 7191797 -90 0 200 HQ ANTOFALLA SOUTH DDH05-LEA XXVI 2599680 7109839 -90 0 200 HQ ANTOFALLA SOUTH DDH03-LEA XXVI 2599854 7107366 -90 0 302 HQ ANTOFALLA SOUTH DDH01-LEA I 2654736 7191797 -90 0 401 HQ ANTOFALLA NORTH DDH01-LEA XXXIV 2651982 7190708 -90 0 401 HQ ANTOFALLA NORTH DDH02-LEA V 2650573 7182931 -90 0 401 HQ ANTOFALLA NORTH Table 2: Summary of brine chemistry from holes drilled by LEXI in the Antofalla South Project.
Holes were drilled vertically and the sediments in the salar are flat lying. All thicknesses of brine mineralization delimited by the from to intervals in meters are true thicknesses. The extension of the brine is open at depth in the three holes in LEA XXVI, as bedrock to the salar is not believed to have been intersected.
HOLEID FROM TO SAMPLE TYPE B_mg/L K_mg/L Li_mg/L Mg_mg/L DDH01-LEA XXVI 24 32 Single packer 313 1347 208 3349 DDH01-LEA XXVI 48 68 Single packer 319 1720 217 3493 DDH01-LEA XXVI 104 122 Single packer 390 1547 239 4013 DDH01-LEA XXVI 122 140 Single packer 380 1414 251 3858 DDH01-LEA XXVI 140 158 Single packer 360 1433 229 3738 DDH01-LEA XXVI 158 176 Single packer 402 1376 251 4059 DDH01-LEA XXVI 182 200 Single packer 412 1364 268 4089 DDH03-LEA XXVI 14 32 Single packer 682 2904 433 9458 DDH03-LEA XXVI 32 50 Single packer 681 2908 433 9341 DDH03-LEA XXVI 50 68 Single packer 680 2908 433 9344 DDH03-LEA XXVI 104 122 Single packer 661 2805 418 9156 DDH03-LEA XXVI 140 158 Single packer 664 2826 411 8965 DDH03-LEA XXVI 158 176 Single packer 627 2643 380 8503 DDH03-LEA XXVI 176 194 Single packer 640 2724 401 8983 DDH03-LEA XXVI 194 212 Single packer 626 2860 393 8709 DDH03-LEA XXVI 212 230 Single packer 641 2753 401 8885 DDH03-LEA XXVI 248 266 Single packer 669 2842 417 9101 DDH03-LEA XXVI 276 277 Single packer 634 2746 394 8665 DDH05-LEA XXVI 32 50 Single packer 508 2185 319 6493 DDH05-LEA XXVI 50 68 Single packer 449 1986 286 5463 DDH05-LEA XXVI 68 86 Single packer 526 2309 330 6934 DDH05-LEA XXVI 140 158 Single packer 504 2079 309 6310 DDH05-LEA XXVI 158 176 Single packer 480 1984 299 5771 DDH05-LEA XXVI 176 200 Single packer 492 2051 307 6364 Table 3: Summary of brine chemistry from holes drilled by LEXI in the Antofalla North Project HOLEID FROM TO SAMPLE TYPE B mg/L K mg/L Li mg/L Mg mg/L Na mg/L DDH01-LEA I 32 50 Single packer 149 1789 105 1812 80792 DDH01-LEA I 50 68 Single packer 145 1757 107 1822 78638 DDH01-LEA I 86 104 Single packer 140 1688 129 2699 86122 DDH01-LEA I 122 140 Single packer 137 1643 119 2435 81397 DDH01-LEA I 140 158 Single packer 147 1743 125 2547 82437 DDH01-LEA I 161 179 Single packer 156 1847 131 2672 90599 DDH01-LEA I 179 197 Single packer 140 1756 115 2326 94287 DDH01-LEA I 197 215 Single packer 115 1421 102 1842 108034 DDH01-LEA I 215 233 Single packer 112 1503 98 1747 106981 DDH01-LEA I 233 251 Single packer 128 1858 105 1643 108740 DDH01-LEA I 251 269 Single packer 258 2927 189 2523 97057 DDH01-LEA I 269 287 Single packer 194 2277 147 2295 96578 DDH01-LEA I 287 305 Single packer 211 2385 165 2751 101885 DDH01-LEA I 305 323 Single packer 224 2473 175 2980 99335 DDH01-LEA XXXIV 36 38 Single packer 113 1050 76 1434 53409 DDH01-LEA XXXIV 54 56 Single packer 170 1973 118 1868 75607 DDH01-LEA XXXIV 72 74 Single packer 198 2284 147 2114 83800 DDH01-LEA XXXIV 90 92 Single packer 161 1966 125 1956 87032 DDH01-LEA XXXIV 132 133 Double packer 189 2323 141 2202 102020 DDH01-LEA XXXIV 150 151 Double packer 196 2397 146 2287 108990 DDH01-LEA XXXIV 174 175 Single packer 181 2238 138 2160 99572 DDH01-LEA XXXIV 197 215 Single packer 182 2234 138 2234 106362 DDH01-LEA XXXIV 215 233 Single packer 155 2017 113 1887 91662 DDH01-LEA XXXIV 233 251 Single packer 182 2251 136 2186 111328 DDH01-LEA XXXIV 251 269 Single packer 183 2267 137 2185 109238 DDH01-LEA XXXIV 272 287 Single packer 185 2274 137 2187 112275 DDH01-LEA XXXIV 287 305 Single packer 179 2202 132 2155 109630 DDH01-LEA XXXIV 305 323 Single packer 180 2199 133 2164 108732 DDH01-LEA XXXIV 326 344 Single packer 173 2115 128 2114 106527 DDH01-LEA XXXIV 344 362 Single packer 172 2124 128 2104 109157 DDH01-LEA XXXIV 362 380 Single packer 175 2117 128 2124 106116 DDH01-LEA XXXIV 380 401 Single packer 172 2151 129 2118 109008 DDH02-LEA V 38 56 Single packer 123 1567 93 1612 92283 DDH02-LEA V 56 74 Single packer 134 1712 103 1724 96644 DDH02-LEA V 74 92 Single packer 128 1637 96 1647 93621 DDH02-LEA V 92 110 Single packer 134 1699 99 1710 96292 DDH02-LEA V 110 128 Single packer 141 1809 106 1799 100401 DDH02-LEA V 146 164 Single packer 154 1981 105 1959 108067 DDH02-LEA V 182 200 Single packer 151 1962 103 1920 104893 DDH02-LEA V 230 236 Double packer 161 2160 112 2067 113234 DDH02-LEA V 263 272 Double packer 163 2169 113 2063 111643 DDH02-LEA V 272 284 Double packer 169 2374 126 2160 112278 DDH02-LEA V 296 308 Double packer 178 2365 127 2242 109583 DDH02-LEA V 347 353 Double packer 176 2351 128 2230 109229 DDH02-LEA V 353 357 Double packer 163 2162 113 2075 114214 DDH02-LEA V 359 365 Double packer 174 2358 127 2223 110405 DDH02-LEA V 388 392 Double packer 135 1942 108 1765 87801 Update on Credit Agreement Further to the Company's press release dated March 7, 2025 , the Company has not been able to arrange financing to repay the outstanding amounts under its secured credit facility with Arena Investors LP, for which it received a demand notice and notice of intention to enforce security pursuant to Section 244(1) of the Bankruptcy and Insolvency Act . The Company therefore has a large working capital deficit and there can be no assurance that its operations will continue in the current form, or at all. About Lithium Energi Exploration Inc.
Lithium Energi Exploration Inc., LEXI , (FSE: L09), LXENF , or "LEXI" is an exploration company focused on the acquisition, exploration, and development of lithium brine assets in Argentina . LEXI's portfolio of prospective lithium brine concessions in the Argentina Province of Catamarca (heart of the lithium triangle) includes approximately 57,000 hectares and a 20% interest in Triangle Lithium Argentina, S.
A., which owns an additional 15,000 hectares - all located in and around the Antofalla Salar, one of the largest basins in the region. LEXI is committed to innovation, sustainability, and quality, striving to differentiate itself from other players in the industry to maximize its potential for success.
LEXI is headquartered in Vancouver, British Columbia , with offices in Catamarca, Argentina . For more information, visit lithiumenergi.com .
ON BEHALF OF THE BOARD OF DIRECTORS "Ali Rahman" ________________________ Ali Rahman , Chief Executive Officer & Director Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release.
Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such factors, among other things, include: the results of preliminary testing proving accurate and consistent with secondary testing and repeatable over time and at commercial scale; the absence of material changes with respect to the Company and its businesses; possible variations in mineralization, grade or recovery rates; actual results of exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties; failure to of the parties to the Transactions to comply with the terms and conditions of the definitive agreements relating to the Transactions; and the use of proceeds. Although the forward-looking statements contained in this news release are based upon what the management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release.
Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law. SOURCE Lithium Energi Exploration Inc. View original content to download multimedia: http://www.
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