Drilling Underway at Cauchari Lithium Brine Project
- Drilling anticipated to show likely extension of high-grade lithium brines from adjoining proven lithium resources of Ganfeng Lithium (SHE:002460) /Lithium Americas and Orocobre/Advantage Lithium.
- Second rig mobilised to drill pre-collar rotary holes to 100 metres to accelerate assay results.
- Lake drilling four holes over 1,500 metres - first results end October/early November.
A second drill rig (rotary rig) has been mobilised to drill pre-collar holes to 100 metres depth to assist the diamond rig through the upper gravels into the brine sequence. The rig is on-route to site and arrives this weekend. It will expedite the drill program in an effort to achieve earlier assay results from drilling.
Four holes (1,500 metres) are planned with each drillhole initiated with a pre-collar well to 100 metres depth, except for drill hole #1. The second drillhole is located approximately 2500 metres north of drill hole #1.
Drilling is anticipated to show a likely extension to the high grade lithium brines of Ganfeng Lithium/Lithium Americas and Orocobre/Advantage Lithium in adjacent properties (see Figures 2,3,4 in link below). Third party drill results on the here include 600-705mg/L lithium with high flow rates close to the lease boundary (see Note below). Based on recent seismic lines, Lake expects these high-grade lithium brines to extend into its leases and brine bearing sediments are estimated to extend to 300-400 metres deep, based on the interpretation of the seismic line completed by Lake.
Lake originally secured the 18,000 hectare Olaroz-Cauchari leases in early 2016 and is the only ASX junior exploration/development company with a large lease portfolio within this proven lithium brine province.
Managing Director Steve Promnitz said: "We aim to repeat the high grade lithium results in neighbouring drill holes 400-500 metres away in what is a proven and very large lithium resource. The Cauchari drilling is in the same basin and marks a key milestone for Lake after more than two years of preparatory work including securing the necessary permits and undertaking detailed geological modelling. It is great to be on the ground with the drills turning."
Note: Drill results released by Orocobre (ASX:ORE) from their market releases on the ASX on 18 April 2018, 29 June 2018 and 19 Sept 2018.
To view figures, please visit:
About Lake Resources NL
Lake 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.
Lake Resources NL
Jiangxi Ganfeng Lithium Co Ltd