VANCOUVER, BC, April 23, 2025 /CNW/ - Lithium Energi Exploration Inc. (TSXV: LEXI) (OTCQB: 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.
logo (CNW Group/Lithium Energi Exploration Inc.)
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., (TSXV: LEXI), (FSE: L09), (OTCQB: 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.