Dr Nick Lindsay has been appointed as a Non-Executive Director of the Company. Nick has over 25 years' experience in Argentina, Chile and Peru in technical and commercial roles in the resources sector with major and mid-tier companies, as well as start-ups. Nick has an BSc (Hons) degree in Geology, a PhD in Metallurgy and Materials Engineering as well as an MBA. A fluent Spanish speaker, he has successfully taken companies in South America, such as Laguna Resources which he led as Managing Director, from inception to listing, development and subsequent acquisition. Mr Lindsay is currently CEO of Manuka Resources Ltd, an unlisted company, having previously held the position of President - Chilean Operations for Kingsgate Consolidated Ltd and is a member of the AusIMM and the AIG.
LKE's Chairman, Mr Crow said: "As Lake enters a much more active period of exploration of its assets in Argentina, it is important that we have greater South American resources sector expertise at Board level. Nick will deliver such expertise and we are delighted to have secured his services.
"Nick holds more than 25 years' experience in Argentina and Chile, and this enhanced guidance to our technical and commercial team on the ground will be invaluable as we begin to develop our projects. We look forward to updating shareholders on progress in this regard."
Mr Peter Gilchrist has advised of his decision to step down from the Board after more than 10 years' service. Mr Gilchrist was instrumental in establishing Lake Resources privately and listing the Company, focused on copper-gold assets, including leases in Argentina, and was central to the successful acquisition of the lithium projects of Lith NRG Pty Ltd. The Board thanks him for his assistance and good guidance of the Company.
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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.
Lake Resources N.L.
Lake Resources NL (ASX:LKE) Drilling Confirms Large Scale Lithium Brine Basin Kachi Lithium Project, Argentina