Lake Resources N.L. (ASX:LKE) is pleased to advise that additional leases have been secured at the Kachi Lithium Brine Project in Catamarca province, Argentina.
Lake Resources NL
Lake Resources NL (ASX:LKE) is a lithium exploration company undertaking an aggressive programme to explore prime lithium basins in Argentina, among some of the largest players in the lithium sector. Mining leases and applications are located in the Lithium Triangle which accounts for 49% of current lithium production. Lake recently completed the acquisition of an early mover in Argentina, who had secured an extensive strategic package of ~90,000 Ha, prior to a significant 'rush' to secure projects by major companies in the sector. This is one of the largest lithium tenement packages in Argentina, controlled 100% by Lake. The option agreement over lithium pegmatites in Catamarca, if exercised, would increase this to ~160,000 Ha.
Lake has three key areas that have similar settings to major world class projects being developed – Olaroz/Cauchari, Paso and Kachi in the highly prospective Jujuy and Catamarca Provinces. The Kachi Lithium Brine Project is located in Catamarca province, approximately 100km south of FMC's Hombre Muerto Lithium brine production operation. The Kachi Project overlies an area of almost 50,000 Ha of leases and lease applications, centred around a salt lake within a large basin almost 100km long with initial results up to 322 mg/L Li at surface and more results expected, followed by geophysics and drilling. Upcoming exploration in lithium brine basins, one which is adjacent to some of the leading lithium producers/developers, including Orocobre and SQM, may provide several catalysts for growth as the areas are assessed for major discoveries.
Significant corporate transactions continue in adjacent leases with development of Lithium Americas Olaroz/Cauchari project with a 36% equity investment of US$286 million, from Gangfeng, an important Chinese producer, and Bangchak Petroleum. Both Chinese investors will also provide US$205 million debt facility with offtake commitments, sufficient to develop Lithium Americas share in the Stage 1 production from Olaroz/Cauchari. Advantage Lithium announced a transaction to earn 50-75% equity in Orocobre's Cauchari leases for approximately US$37 million in shares, raising US$20 million in the market.
The directors present their report, together with the financial statements, on the consolidated entity (ASX:LKE) consisting of Lake Resources NL and the entities it controlled at the end of, or during, the half-year ended 31 December 2016.
Lake Resources NL (ASX:LKE) Issues Shares for Option Over Large Lithium Pegmatite Leases in Argentina
Lake Resources NL (ASX:LKE) is pleased to announce that it has issued the first tranche of 1,000,000 LKE shares to Petra Energy SA as part of an option agreement, to be fully paid in LKE scrip, over a large block of approximately 72,000 Ha of exploration and some mining leases and applications over potential lithium bearing pegmatites and pegmatite swarms.
Lake Resources N.L. (ASX:LKE) is pleased to announce that it has successfully completed a capital raising of A$1.2m via a private Placement with professional, sophisticated and institutional investors. The Placement leaves the Company well funded to continue its aggressive exploration programme in Argentina over both lithium brine projects and lithium pegmatite project.
Lake Resources N.L. (ASX:LKE) is pleased to announce that it has significantly expanded its size and asset base in Argentina with an option agreement signed with local owners of a large block of approximately 72,000 Ha of exploration leases and applications over a newly recognised 100km long belt of potential lithium bearing pegmatites and pegmatite swarms in Ancasti, Catamarca province.