- Kachi Lithium Brine Project now covers total consolidated area of ~52,000 Ha
- ~90% of project leases now approved for exploration
- Results from near-surface brine sampling expected shortly
This is the first time the area has been consolidated under one owner 100%, with the great majority of all leases being approved for exploration.
More sample results are expected soon, to be followed by geophysics and an initial drilling programme.
More Leases - Kachi Lithium Brine Project
Further mining leases have been secured (~2,500 Ha) over the Kachi Lithium Brine Project in Catamarca province. These were critical areas of mining title to consolidate the area.
This is the first time the area has been consolidated under one owner 100%. These cover a combined area of ~52,000 Ha of adjoining consolidated leases. Virtually all leases have been approved for exploration (~90% by number), an important stage of progress for the Company, as set out in the shareholder approved acquisition of LithNRG Pty Ltd last year.
Results Soon - Kachi Lithium Brine Project
Results are expected soon from the near-surface brine sampling programme over the salt lakes in the Kachi Lithium Brine Project in Catamarca province. The Company's Board and Management look forward to updating shareholders as such results become available.
The Company is also pleased to confirm its new corporate identity which better reflect the operations and commodity focus of Lake Resources. LKE has also launched a new website which provides a source of useful information and reference for investors.
To view tables and figures, please visit:
About Lake Resources NL
Lake Resources NL (ASX:LKE) is undertaking an aggressive exploration programme to explore/develop prime lithium projects in Argentina, owned 100%, among some of the largest players in the lithium sector. Lake holds three key lithium brine projects located in the Lithium Triangle which produces half of the world’s lithium. Lake also holds one large package of lithium pegmatite properties which were an unappreciated source of lithium in Argentina until recently. Lake holds one of the largest lithium tenement packages in Argentina (~165,000Ha) secured prior to a significant ‘rush’ by major companies.
The three key brine projects held by Lake have similar settings to major world class brine projects being developed – Olaroz/Cauchari, Paso and Kachi in the highly prospective Jujuy and Catamarca Provinces. One project is located next to Orocobre’s Olaroz lithium production and Lithium Americas Cauchari project, with another south of FMC’s lithium operation. 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 the company’s growth as these areas are assessed for major discoveries.
Significant corporate transactions continue in adjacent leases with development of Lithium Americas Olaroz/Cauchari project with a 28% equity investment of C$106 million, from Gangfeng, an important Chinese producer, and BCP Innovation with a US$205 million debt facility. Advantage Lithium announced a transaction to earn 57% equity in some of Orocobre’s leases, including Cauchari, raising C$20 million in the market. LSC Lithium has also raised $40 million on a large lease package.
Lake Resources NL