Quarterly Activities Report Q1/2017
- Exploration programme advanced over lithium lease applications in Argentina.
- Drilling on Kachi Lithium Brine Project in Catamarca will be next key step.
- Lithium lease holdings significantly expanded to ~170,000 Ha in Argentina, , including areas under option.
- Lake expanded size and optionality for investors with one of the largest listed lithium lease holdings in the sector.
- Major Pegmatite Lithium Project (~72,000 Ha) secured under option in Catamarca over newly recognised 150km belt of pegmatites at low altitude accessible year round.
- Positive results from surface sampling programme up to 322ppm Lithium at Kachi Lithium Brine Project.
- Leases expanded and consolidated at Kachi Project to ~50,000Ha prior to drilling.
- Virtually all mining leases approved for exploration at Kachi Project.
- Leases expanded over prime lithium brine bearing basins (~100,000 Ha) in 3 areas over in NW Argentina among largest players in lithium sector.
- Capital raising completed Feb 2017 to fund planned initial exploration programme in Argentina in 2017.
- Outlook - Focus in June Quarter on drilling, geophysics and initial drill results from the Kachi Lithium Brine Project
- Outlook - Advance leases over Olaroz/Cauchari and complete initial sampling/assessment of the Catamarca Lithium Pegmatites Project
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About Lake Resources NL
Lake Resources NL (ASX:LKE) is undertaking an aggressive exploration programme to explore and develop prime lithium projects in Argentina, owned 100%, among some of the largest players in the lithium sector. Lake holds one of the largest lithium tenement packages in Argentina (~170,000Ha) secured prior to a significant 'rush' by major companies with 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.
The three key brine projects, Olaroz/Cauchari, Paso and Kachi, have similar settings to major world class brine projects being developed in the highly prospective Jujuy and Catamarca Provinces. One project is located next to Orocobre's Olaroz lithium production and SQM/Lithium Americas Cauchari project. The Kachi project covers 50,000 Ha over a salt lake south of FMC's lithium operation and near Albemarle's Antofalla project.
Drilling at Kachi has shown conductive brines in thick porous sands with results anticipated over the coming months. Surface sampling has revealed positive lithium results which will be expanded through the drilling program and geophysics. Exploration and permitting over Kachi and the other projects will 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 SQM/Lithium Americas Olaroz/Cauchari project with an equity/debt investment over $300 million and Advantage Lithium's equity transaction in some of Orocobre's leases. LSC Lithium has also raised over $60 million on a large lease package in similar areas as Lake's properties. Nearby projects of Lithium X were subject to a takeover offer of C$265 million in December 2017.
Lake Resources NL