- A third drill rig has started at Lake's 100%-owned Kachi Lithium Brine Project in Catamarca Province, Argentina.
- The additional diamond drill rig will assess the geology and stratigraphy while the other drill rigs are rotary rigs.
- Drilling was completed in the first rotary drill hole to a depth of 240 metres with encouraging indications of conductive brines in thick sandy aquifers. Testing and results will be reported in the coming weeks.
- Lake's Olaroz-Cauchari Project continues to look promising given the recent results from the adjoining leases showing high grade lithium with high flow rates. Lake has progressed with the process to have drilling approved adjacent to this area.
Kachi Lithium Brine Project, Catamarca - Update on drilling
Conductive brines were intersected in two thick sandy aquifers but these horizons have proven challenging to drill with rotary and diamond drill rigs. Testing and results will follow in the coming weeks.
Based on the solid progress being made at Kachi, a third rig - a diamond drill rig - has been deployed and commenced operations adjacent to the second rotary drill rig, 11 kilometres to the south east of the recently completed rotary drillhole to assess whether the same conductive sandy aquifers can be intersected. The diamond drilling company has an excellent track record of drilling brines under salt lakes in Argentina. The intention is to assess which of the three rigs produces the best results and the drilling programme will then be extended based on these outcomes.
Olaroz - Cauchari Lithium Brine Project, Jujuy - Update on nearby drilling results
Further high-grade lithium brine results averaging 476 mg/L lithium with other holes up to 720 mg/L lithium with high flow rates of brines were reported from the leases immediately adjoining Lake's leases at the Cauchari Lithium Brine Project in Jujuy province by Advantage Lithium and Orocobre (
Lake's subsidiaries have progressed with the process to have drilling approved adjacent to this area and it is Lake's intention to target the same aquifers.
To view tables and figures, please visit:
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
Orocobre Limited (ASX:ORE) (TSE:ORL) Sales de Jujuy S.A. Pays US$13.9M Principal and Interest Payment
Orocobre Limited (ASX:ORE) (TSE:ORL) Reports First Half Net Profit after Tax of US$7.4M on Record Sales Revenue and Production