The Lithium Energy (ASX:LEL) share price has doubled following the announcement of significant intersections of highly conductive brines at its Solaroz project in Argentina.

The WA-based company has exposure to lithium and graphite - the two most important ingredients for lithium-ion batteries.

At its AGM today, Managing Director William Johnson says the initial drilling is only halfway to the final goal:

?Whilst works are occurring to allow for the continuation in drilling to reach the target depth of 300 metres, suspension of drilling has given us the opportunity to take some early samples down to approximately 150 metres?.

The share price currently sits at $0.38