Orocobre (ASX:ORE) has an updated resource estimate for the Company’s Cauchari Joint Venture Project in Argentina based on the Phase II drilling results.
The resource at Cauchari has seen an increase to 3.0 megaton Lithium Carbonate Equivalent for the 2017/2018 programme.
The exploration program is being managed by JV partner Advantage Lithium Corp. who hold 75 per cent of Cauchari.
Orocobre owns 29 per cent of Advantage Lithium’s issued capital and 25 per cent directly in the joint venture.
Shares in Orocobre (ASX:ORE) closed down 0.33 per cent to $6.11 yesterday