Interview with Steve Promnitz on Argentinian Lithium Projects
The agreement with Jujuy confirms tenure of Lake's ~45,000 hectares of mining leases which covers Lake's Olaroz - Cauchari Lithium Brine Project and Paso Lithium Brine Project in Argentina.
- Leases adjoin lithium brine production and development projects in Jujuy, Argentina.
- The Olaroz-Cauchari Lithium Brine Project and Paso Project are 100% owned by Lake.
- Agreement signed with Lake's subsidiaries confirms tenure and the granting of Lake's leases in the world's prime lithium brine location.
- Activity has been stalled for two years pending approvals - now effectively resolved with this agreement.
- Leases were pegged prior to the recent rush for projects in the lithium sector in the same basin as Orocobre and SQM/Lithium Americas.
Drilling is commencing at Cauchari with results expected in the short term.
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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