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Restrictions have limited impact on Lake operations
Restrictions have limited impact on Lake operations
Brisbane, Mar 24, 2020 AEST (ABN Newswire) - Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has announced that the impact is limited on the operations of Lake's subsidiaries due to the new restrictions on travel and movements set out recently by the government in Argentina. On 20 Mar 2020, due to a potential health crisis created by COVID-19, the Argentine government released social isolation guidelines (Decreto Ndeg 297/2020), which includes the restriction of movement of people and goods until 31 March 2020, with a number of exemptions, such as fuel and supplies.

Lake's focus has been on progressing of lithium brine samples from Lake's Kachi Lithium Brine Project in Argentina using its U.S. technology partner Lilac Solutions' direct extraction ion exchange pilot plant module in Oakland, California. Lilac will process the brine to produce high-purity lithium chloride for conversion to battery-grade lithium carbonate for prospective off-takers. COVID-19 restrictions may delay this delay this process.

Argentina has previously announced incentives to support the lithium sector and the oil & gas sector via presidential commentary on 1 March and 3 March 2020. It is the company's intention to follow up on the possibilities available to assist in future financing for construction.


About Lake Resources NL

Lake ResourcesLake Resources NL (ASX:LKE)  (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.  
 
This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.

   


Contact

Steve Promnitz
Managing Director
Lake Resources N.L.
T: +61-2-9188-7864
E: steve@lakeresources.com.au



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