- Initial drilling at the Kachi Lithium Brine Project in Catamarca has intersected conductive brines in porous sandy horizons.
- Kachi Lithium Brine Project covers ~52,000Ha consolidated mining leases over previously undrilled salt lake.
- Results delayed due to slow drilling progress - another rig contracted for additional capacity.
- Focus in current Quarter on expanding drilling at Kachi Lithium Brine Project with assay results to be reported.
- Lease approval discussions advanced to access the Olaroz/Cauchari and Paso Projects in Jujuy province adjacent to Orocobre and SQM/Lithium Americas.
- 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 170,000 Ha, including areas under option.
- Lake completed a A$1.6m debt security facility to provide additional funding for a drill program without equity dilution.
Lake Resources NL is an exploration and development company with one of the largest lithium lease holdings in Argentina of 170,000 Ha, including areas under option with four prime lithium projects, 3 brine projects and 1 hard rock project in Argentina. Each project is capable of being a 'company maker'.
These include the Kachi Lithium Brine Project which covers ~52,000Ha 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 Catamarca Pegmatite Lithium Project (~72,000 Ha), under option, with large pegmatite swarms over 150km of strike.
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About Lake Resources NL
Lake Resources NL (ASX:LKE) is a lithium exploration and development company focused on developing its three lithium brine projects and 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 (~200,000Ha) secured in 2016 prior to a significant 'rush' by major companies. The large holdings provide the potential to provide consistent security of supply demanded by battery makers and electric vehicle manufacturers.
The Kachi project covers 69,000 ha over a salt lake south of FMC's lithium operation and near Albemarle's Antofalla project in Catamarca Province. Drilling at Kachi has confirmed a large lithium brine bearing basin over 20km long, 15km wide and 400m to 800m deep. Drilling over Kachi (currently 16 drill holes, 3100m) has produced a maiden indicated and inferred resource of 4.4 Mt LCE (Indicated 1.0Mt and Inferred 3.4Mt) within a 8-17 Mt LCE exploration target (refer ASX announcement 27 November 2018).
A direct extraction technique is being tested in partnership with Lilac Solutions, which has shown 80-90% recoveries and lithium brine concentrations in excess of 3000 mg/L lithium and 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.
Lake Resources N.L.