Lake Resources (ASX:LKE) has made moves with drilling at their Cauchari lithium brine project.
A second, larger diamond drill rig operated by Foraco Argentina has progressed drilling to a depth of 141 metres.
The rig is targeting a sand horizon estimated between 350-450 metres deep and will drill to 500 metres.
Foraco, the third largest global mineral driller, is operating concurrently with rotary rig drilling operations.
Demand forecasts point to the need for an eight-fold increase in lithium supply over the next nine years and amid supply constraints, new projects such as Lake’s will be essential to support the lithium-ion battery revolution in energy and transport
Shares in Lake Resources (ASX:LKE) are trading 2.08 per cent lower at 4.7c