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RECENT NEWS

May 15, 2012
Li3 Energy, Inc. CEO Releases Shareholder Letter
 
April 24, 2012
Li3 Energy Withdraws From Proposed Acquisition of New World Resource Corp. Lithium Project
 
April 20, 2012
Li3 ENERGY REPORTS POSITIVE MEASURED RESOURCE REPORT : Maricunga Project To Advance to Feasibility Stage

EXPLORATION SUMMARY

Projects : Exploration Summary

In 2007, the previous owners of the Project started the first campaign of exploration by drilling 58 wells on a systematic grid of 500 m2 with a depth of 20 meters in each well. After following certain protocols, 226 liquid samples were taken from the wells and were sent to the Cesmec laboratory in Antofagasta for analysis. Average results from the exploration program are shown in the table below in comparison with the Salar de Atacama in Chile, the Salar de Hombre Muerto, Salar de Olaroz and the Salar de Cauchari in Argentina:

 

Maricunga (2007)

Salar de Atacama

Salar de Hombre Muerto

Salar de Olaroz

Salar de Cauchari

Lithium, ppm

834

1,500

900

955

540

Potassium, ppm

6,600

18,000

8,500

7,920

4,900

Magnesium, ppm

5,500

9,600

900

2,750

1,380

Sulfate, ppm

9,600

17,800

12,100

-

16,960

Mg/Li

6.6

6.4

1.0

2.9

2.6

K/Li

7.9

12.0

9.4

8.9

9.1

Sulfate/Li

9.6

11.9

13.4

-

31.4

K/Mg

1.2

1.9

9.4

2.9

3.6

 

 

From the preceding results, the Maricunga Project would have a production cost lower than Hombre Muerto and slightly higher than Atacama due to lower net evaporation. Recently, Li3 has completed its initial brine sampling program at the Maricunga Project. Out of 104 samples that have been taken, partial results from 28 samples have been received, indicating values of up to 1.4 g/l lithium and 10.3 g/l potassium. Average results from these samples grade 0.90 g/l lithium and 6.69 g/l potassium, which are superior to other comparable lithium projects. These results confirm the results of the 2007 shallow well sampling program and the historical sampling work performed by CORFO. A map showing the locations of the samples that have been taken from the Maricunga Project can be seen below:

 

 

 

 

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