Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) together with its technology partner, Lilac Solutions Inc, announced today another step towards the delivery of high purity, responsibly sourced lithium, with the first samples of lithium chloride successfully produced from Lilac's direct lithium extraction pilot plant.
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.
The Olaroz-Cauchari and Paso brine projects are located adjacent to major world class brine projects either in production or being developed in the highly prospective Jujuy Province. The Olaroz-Cauchari project is located in the same basin as Orocobre's Olaroz lithium production and adjoins Ganfeng Lithium/Lithium Americas Cauchari project, with high grade lithium (600 mg/L) with high flow rates drilled immediately across the lease boundary.
Two drill rigs are currently drilling at Cauchari with results anticipated to extend the proven resources in adjoining properties into LKE's area with results anticipated from November into December 2018. This will be followed by drilling extensions to the Olaroz area in LKE's 100% owned Olaroz leases.
Significant corporate transactions continue in adjacent leases with development of Ganfeng Lithium/Lithium Americas Cauchari project with Ganfeng announcing a US$237 million for 37% of the Cauchari project previously held by SQM. Nearby projects of Lithium X were acquired via a takeover offer of C$265 million completed March 2018. The northern half of Galaxy's Sal de Vida resource was purchased for US$280 million by POSCO in June 2018. These transactions imply an acquisition cost of US$55-110 million per 1 million tonnes of lithium carbonate equivalent (LCE) in resources.
The demand for lithium continues to be strong for lithium ion batteries in electric vehicles, according to recent data from the leading independent battery minerals consultant, Benchmark Mineral Intelligence. Supply continues to be constrained suggesting good opportunities for upstream lithium companies.
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) together with its technology partner, Lilac Solutions Inc, announced today the completion of commissioning of its direct lithium extraction pilot plant module dedicated for the Kachi Lithium Brine Project.
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) announced today that its technology partner, Lilac Solutions, is resuming operations this week with its direct extraction pilot plant module for the Kachi project following the loosening of "shelter in place" restrictions and the removal of curfews.
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) today announced that Steve Promnitz, Managing Director, will present live at The Latam Showdown, an e-conference, on Thursday May 28 at 12.00 noon ET (NYC)
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) announced today new research showing the potential value of the Company's Kachi Lithium Brine Project which followed the recent release of the successful Pre-Feasibility Study (PFS) concerning its sustainable and scalable direct extraction process.
Lake Resources (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) to Webcast Live at OTC's VirtualInvestorConferences.com Thursday May 21, 2020 - 10am ET (NYC)
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) refers to the Notice of Meeting released to the Market on 14 April 2020 and provides an update regarding the Company's upcoming Extraordinary General Meeting to be conducted on Thursday 14 May 2020.
Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is an exploration and development company, developing its flagship 4.4mt LCE resource Kachi Lithium Brine Project in Argentina, to produce sustainable high purity lithium carbonate using an efficient, disruptive and low cost direct extraction technology.
Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) provide the presentation on the Pre-feasibility Study results.