Lake Resources NL (ASX:LKE) Brine Drilling Progressing Well at Kachi Lithium Brine Project

Lithium exploration company Lake Resources N.L. (ASX:LKE) ("Lake" or "LKE") is pleased to announce that drilling is progressing well in the second drillhole, successfully intersecting concentrated brine horizons in saturated sands and silts below the 100%-owned Kachi Lithium Brine Project in Catamarca.

- Drilling has intersected brine in a second drillhole within brines below the lithium bearing salt lake of the 100%-owned Kachi Lithium Brine Project in Catamarca Province, Argentina

- The second diamond drillhole is below 125m depth in permeable sandy horizons containing brines with promising conductivities and densities

- Initial assay results from the brines are anticipated in early January

These brines display encouraging conductivities and densities - positive indicators for future results. Initial assay results are anticipated in early January. The second drill hole is at 126m depth and planned to continue to below 250m after the Christmas recess (12 days) to test deeper aquifers. The first hole was terminated at 71m after testing the near surface aquifer. These holes are part of a maiden 1,000m diamond drilling programme. The programme can be extended pending the outcome of assay results.

After returning from site this week, Lake Resources' Managing Director Steve Promnitz said: "Drilling has intersected brine saturated sediments from a metre from surface, which includes significant permeable sands. The first set of assay results will be reported as soon as possible. Activity in the lithium sector has intensified with a neighbouring project under a takeover offer on market for C$265 million. This bodes well for Lake given the scale of the four projects in Argentina's Lithium triangle and the fact that they are 100% owned."

Project Background

The Kachi Lithium Brine Project covers over 50,000 ha of mining leases owned 100% by Lake's Argentine subsidiary, Morena del Valle Minerals SA, over the centre of the known salt lakes in the deepest part of a large basin. Surface sampling has revealed positive lithium results in conductive brines which will be expanded through the drilling program and geophysics.

The company has a focus on an inclusive approach with local communities together with appropriate environmental management. The Kachi Project was selected by the State of Catamarca to be accelerated, together with a small group of energy and mining projects in the province, to ensure appropriate development. A Letter of Intent was signed with Catamarca Province to facilitate the project through various permitting stages from exploration to production which bodes well for the future.

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About Lake Resources NL

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

   

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