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Progress in Kachi and Conference in Catamarca
Progress in Kachi and Conference in Catamarca
Brisbane, June 9, 2017 AEST (ABN Newswire) - Argentinean focused lithium exploration company Lake Resources N.L. (ASX:LKE), ("Lake" or "LKE") and its Argentine subsidiary has presented details of progress at the Kachi Lithium Brine Project at the "Lithium in South America" conference in Catamarca, along with the other presenters including the world's largest lithium producers.

Lake reported earlier that over 90% of the leases at the Kachi Project had been granted for exploration. On receipt of legal confirmation, this triggered the release of shares and options for vendor consideration under Tranche 2 Performance Shares and "C" class options under the terms agreed by shareholders on 4 Oct 2016 as set out in the Notice of Meeting of 1 Sept 2016.


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.

 


Contact

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



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