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Orocobre more than doubles Cauchari lithium resource

Cauchari is an emerging lithium project alongside the profitable Olaroz lithium operation.

Olaroz Lithium Operation in Argentina
The company made a profit of US24 million in the recent December half

Orocobre Ltd (ASX:ORE) (TSE:ORE) has increased the resource estimate for the Cauchari JV Lithium Project in Argentina.

Cauchari now holds 4.8 million tonnes of lithium carbonate equivalent (LCE) in the measured and indicated JORC resource categories.

The new resource is based on the results of the phase II and phase III drilling programs.

Exploration is managed by JV partner Advantage Lithium Corp. (CVE:AAL) who hold 75% of Cauchari. Orocobre owns 33.5% of Advantage Lithium’s issued capital and 25% directly in the joint venture.

Orocobre's managing director and CEO Martín Pérez de Solay said: “Our joint venture partners, Advantage Lithium have delivered a well-designed and executed resource definition program that has more than doubled the total Cauchari resource.

“This result provides an opportunity to reassess future development options to maximise value for shareholders.”

Quick facts: Orocobre

Price: 2.38 AUD

ASX:ORE
Market: ASX
Market Cap: $622.79 m
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