- 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 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 makers and electric vehicle manufacturers.
The three key brine projects, Kachi, Olaroz/Cauchari, and Paso, 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 22km long and over 400m deep. Drilling over Kachi is aimed to produce a resource statement in 2018, anticipated in Oct 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 Lith
Lake Resources N.L.
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