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Quarterly Activities Report Ending 31 March 2018
Quarterly Activities Report Ending 31 March 2018
Brisbane, April 30, 2018 AEST (ABN Newswire) - Lake Resources NL (ASX:LKE) provides the Company's Quarterly Activities Report for the period ending 31 March 2018.

HIGHLIGHTS

- Four prime lithium projects - 3 brine projects and 1 hard rock project in Argentina - with one of the largest lithium lease holdings in Argentina of 180,000 hectares, including areas under option.

- Landmark agreement signed with Jujuy Province in Argentina confirmed tenure of Lake's ~45,000 Hectares of leases 100% owned in world class lithium production area

- Olaroz-Cauchari leases adjoin lithium brine production / development projects in Jujuy, Argentina in the same basin as Orocobre and SQM/Lithium Americas. Activity on Lake leases had been stalled for two years pending approvals but now granted.

- Leases were pegged prior to the recent rush for lithium projects with the process underway to commence drilling after the standard process is completed

- Three rigs drilling at the Kachi Lithium Brine Project in Catamarca. Results soon from conductive brines in porous sandy horizons over 11 km distance.

- Kachi Lithium Brine Project is a large salt lake 20 km x 12 km owned 100% by Lake with ~54,000 ha leases.

- Lake raised A$4.5 million (before costs) in March 2018 in an oversubscribed private placement at $0.135 per share with an attached 1-for-2 option at $0.20 which the company is seeking to have listed.

- Lake is sufficiently funded to pursue current exploration initiatives with $4.2 million cash position.

Lake Resources NL is an exploration and development company with one of the largest lithium lease holdings in Argentina of 180,000 ha, including areas under option with four prime lithium projects: 3 brine projects and 1 hard rock project. Each project is capable of being a 'company maker'.

These include the Kachi Lithium Brine Project which covers ~54,000 ha of consolidated mining leases over a previously undrilled salt lake; the Olaroz/Cauchari and Paso Projects in Jujuy province adjacent to Orocobre and SQM/Lithium Americas; and the Catamarca Pegmatite Lithium Project (~72,000 ha), under option, with large pegmatite swarms over 150km of strike.

To view the full report with figures, please visit:
http://abnnewswire.net/lnk/0YUV73RL


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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