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Quarterly Activities Report Q1/2017
Quarterly Activities Report Q1/2017
Brisbane, April 28, 2017 AEST (ABN Newswire) - Lake Resources NL (ASX:LKE) are pleased to provide the Company's latest Quarterly Report for the period ending 31 March 2017.

HIGHLIGHTS

- 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

To view the full Quarterly Report, please visit:
http://abnnewswire.net/lnk/JJYN3748


About Lake Resources NL

Lake Resources NL (ASX:LKE) is a lithium exploration and development company focused on developing its 3 lithium brine projects and 1 hard rock project in Argentina, all owned 100%. The leases are in a prime location among the lithium sector's largest players within the Lithium Triangle where half of the world's lithium is produced. Lake holds one of the largest lithium tenement packages in Argentina (~180,000Ha) secured in 2016 prior to a significant 'rush' by major companies. The large holdings provides the potential to provide security of supply demanded by battery and electric vehicle manufacturers located.

The three key brine projects, Olaroz/Cauchari, Paso and Kachi, are located adjacent to major world class brine projects either in production or being developed in the highly prospective Jujuy and Catamarca Provinces. The Olaroz-Cauchari project is located in the same basin as Orocobre's Olaroz lithium production and adjoins SQM/Lithium Americas Cauchari project, where high grade lithium (600 mg/L) with high flow rates have been drilled immediately across the lease boundary. 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 confirmed a large lithium brine bearing basin over 25km long and over 400m deep. Drilling over Kachi is aimed to produce a resource statement later in 2018. Drilling will commence in coming months at Olaroz-Cauchari now that tenure has been confirmed in a landmark agreement in March 2018. This will provide several catalysts for the company's growth. Scope exists to unlock considerable value through partnerships and corporate deals in the near-term.

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 recently acquired via a takeover offer of C$265 million completed March 2018.

The demand for lithium continues to be strong for lithium ion batteries in electric vehicles, according to recent data from the leading independent battery minerals consultant - Benchmark Mineral Intelligence. Supply continues to be constrained suggesting good opportunities for upstream lithium companies for many years.

  


Contact

Steve Promnitz
Managing Director
Lake Resources N.L.
T: +61-2-9188-7864
E: steve@lakeresources.com.au



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