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Quarterly Activities Report Q3/2017
Quarterly Activities Report Q3/2017
Brisbane, Nov 1, 2017 AEST (ABN Newswire) - Lake Resources NL (ASX:LKE) provides the Company's Quarterly Activities Report for the period ending 30 September 2017.

HIGHLIGHTS

- Four prime lithium projects - 3 brine projects and 1 hard rock project - each capable of being a 'company maker' in Argentina.

- Drilling to start in days at Kachi Lithium Brine Project in Catamarca after last stage of approval successfully completed with a local public hearing.

- Diamond drill program of 1500m in at least 3 holes with initial payments made.

- Lease approvals continue to progress in the Olaroz/Cauchari and Paso Projects in Jujuy province adjacent to Orocobre and SQM/Lithium Americas.

- Letter of Intent (LOI) signed with Catamarca State mining & energy entity to advance Kachi Project.

- Lake holds one of the largest listed lithium lease holdings in Argentina of 170,000 Ha, including areas under option.

- Kachi Lithium Brine Project covers ~52,000Ha consolidated mining leases over an undrilled salt lake near to Albermarle's Antofalla Project.

- Catamarca Pegmatite Lithium Project (~72,000 Ha), under option, with large pegmatite swarms over 150km.

- Focus in coming Quarter on drilling at Kachi Lithium Brine Project; Results expected to be substantially higher than current positive surface results.

- Lake is organizing a debt security to provide additional funding for a drill program without dilution adding to the cash position to meet current exploration initiatives.

To view the full report, please visit:
http://abnnewswire.net/lnk/0CTF2J18


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 provide the potential to provide security of supply demanded by battery makers and electric vehicle manufacturers.

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 22km long and over 400m deep. Drilling over Kachi is aimed to produce a resource statement in 2018, anticipated in Oct 2018. A direct extraction technique is planned to be trialled on site in tandem with conventional methods as part of a PFS to follow the resource statement. Scope exists to unlock considerable value through partnerships and corporate deals in the near-term.

The three key brine projects, Kachi, Olaroz/Cauchari, and Paso, 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 Ganfeng Lithium/Lithium Americas Cauchari project, with high grade lithium (600 mg/L) with high flow rates drilled immediately across the lease boundary.

A drill rig has been mobilised to Cauchari with results anticipated to extend the proven resources in adjoining properties into LKE's area with results anticipated from late October into December 2018. This will be followed by drilling extensions to the Olaroz area in LKE's 100% owned Olaroz leases.

Significant corporate transactions continue in adjacent leases with development of Ganfeng Lithium/Lithium Americas Cauchari project with Ganfeng announcing a US$237 million for 37% of the Cauchari project previously held by SQM. Nearby projects of Lithium X were recently acquired via a takeover offer of C$265 million completed March 2018. The northern half of Galaxy's Sal de Vida resource was purchased for US$280 million by POSCO in June 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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