Lake Resources NL Stock Market Press Releases and Company Profile

View in Other Languages Expansionsstrategie von Lake Resources NL (ASX:LKE) zur Beschleunigung von Lithiumprojekten eingeleitet Lake Resources NL (ASX:LKE) Expansion Strategy to Fast-track Lithium Projects Initiated Se inició la estrategia de expansión de Lake Resources NL (ASX:LKE) para acelerar los proyectos de litio Estratégia de expansão da Lake Resources NL (ASX:LKE) para acelerar projetos de lítio iniciados Lancement de la stratégie d'expansion de Lake Resources NL (ASX:LKE) pour accélérer les projets de lithium Lake Resources NL (ASX:LKE) 啟動快速跟踪鋰項目的擴張戰略 Strategi Ekspansi Lake Resources NL (ASX:LKE) untuk Proyek Lithium Jalur Cepat Dimulai Lake Resources NL (ASX:LKE) 启动快速跟踪锂项目的扩张战略 Lake Resources NL (ASX:LKE) 리튬 프로젝트를 빠르게 진행하기 위한 확장 전략 시작 Инициирована стратегия расширения Lake Resources NL (ASX:LKE) для ускорения литиевых проектов Lake Resources NL(ASX:LKE)が開始したリチウムプロジェクトを迅速に進めるための拡張戦略 Lake Resources NL (ASX:LKE) ขยายกลยุทธ์เพื่อเร่งดำเนินการโครงการลิเธียมที่ริเริ่ม 
Expansion Strategy to Fast-track Lithium Projects Initiated
Expansion Strategy to Fast-track Lithium Projects Initiated

Sydney, Feb 14, 2022 AEST (ABN Newswire) - Clean lithium developer Lake Resources NL (googlechartASX:LKE) (googlechartLK1:FRA) (googlechartLLKKF:OTCMKTS) is bringing forward a US$15 million program across its three 100-percent owned projects - Olaroz, Cauchari and Paso - for drilling and brine testing to fasttrack these projects into feasibility studies in the TARGET 100 Program.

Lake has initiated an expansion and integration strategy to fast-track its portfolio of assets in Argentina to deliver the TARGET 100 Program - being the aspirational goal to produce annually 100,000 tonnes of high purity lithium to market by 2030.

A separate exploration and testing team dedicated to rapid development across Lake's three other brine projects in Argentina will be utilising the comprehensive data set developed during the Kachi project's direct extraction processing test work.

The drilling program has started with the first rotary well of a 4000m 10-hole program, in the northern areas of the Olaroz leases, which cover a 30km long area on the eastern side of established lithium producers. These projects are located in Jujuy province, in the north-west of Argentina, close to the Allkem (Orocobre) Olaroz operation and the Lithium Americas - Ganfeng JV Cauchari project.

The drill wells are designed to quickly quantify brines identified, develop the aquifers, and conduct pumping tests and provide data for initial feasibility studies. Rotary wells will be followed later by diamond holes.

Brines will be sampled and tested with environmentally friendly direct lithium extraction method, similar to previous work conducted on Kachi project lithium brines.

"Direct lithium extraction, to be used on Lake's multiple lithium projects, can deliver scalable projects faster to market and supply rapidly increasing demand", Lake's Managing Director, Mr Steve Promnitz, said.

Lake's Chairman, Mr Stu Crow, said that discussions with potential partners to assist the fast-tracking of these assets into production is underway as part of Lake's ongoing discussions with battery metals customers and Lake's desire to become an integrated and valuable part of the global supply chains.

Mr Crow also said the four reasons in making the formal decision to expand the Kachi project has also given the company confidence to fast-track expansion and integration of Lake's other assets in Argentina:

1. the increasing demand by prospective offtake partners for a secure supply chain of environmentally friendly high purity lithium carbonate;

2. the indicative support to fund new projects by Export Credit Agencies and the international bank panel. The UK and Canada Export Credit Agencies have already indicated a willingness to project debt finance around 70 percent of the Kachi project's capital requirements (ASX announcement 11 Aug 2021);

3. the supportive investment policies of the Argentine Government who have announced a process to lower export taxes as part of the Strategic Plan for Mining Development;

4. the confidence of technology partner Lilac Solutions that its modular direct lithium extraction technology is scalable and cost effective.

"This, combined with increasing customer and consumer scrutiny around the environmental credentials of lithium production; and concerns about security of supply has given us the confidence to fast-track these developments," Mr Crow said.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/13B49H0D


About Lake Resources NL

Lake ResourcesLake Resources NL (ASX:LKE)  (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

https://twitter.com/Lake_Resources https://www.linkedin.com/company/lake-resources/ abnnewswire.com 


Contact

Steve Promnitz
Managing Director
T: +61-2-9188-7864
steve@lakeresources.com.au

For media queries, please contact:
Nigel Kassulke at Teneo
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 15) (Last 30 Days: 72) (Since Published: 4453) 

View in Other Languages 718544534207341231392721268226022595228822552212 (39751)

googlechart