Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) is pleased to announce a major step forward, confirming that battery grade lithium carbonate with 99.9% purity has been produced with very low impurities from Lake's Kachi Lithium Brine Project using Lilac Solutions' disruptive technology in California.
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) announced today plans to send more lithium samples to potential project partners and off-takers amid growing interest in its Kachi Lithium Brine Project in Argentina.
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) announced today the appointment to the Board of Dr Robert Trzebski, an international mining executive with substantial operational, commercial and technical experience in global mining markets including Argentina.
Lake Resources NL (ASX:LKE)(FRA:LK1) is an exploration and development company with one of the largest lithium lease holdings in Argentina in the heart of the Lithium Triangle, with over 200,000 hectares comprising four prime lithium projects, namely three brine and one hard rock project.
Lithium explorer and developer Lake Resources NL (ASX:LKE)(FRA:LK1) announced today the appointment of an experienced chief financial officer (CFO), Garry Gill to help ensure successful funding of the Company's planned initial lithium production in Argentina.
Lake Resources NL (ASX:LKE) is located in the heart of the lithium triangle in South America where nearly half the world's production is sourced and all of which is at the low-cost end of the lithium cost curve.
Lithium explorer and developer Lake Resources NL (ASX:LKE)(FRA:LK1) announced in February 2019 that it had secured a two-tranche funding facility to provide bridging capital for project development and exploration activities for the Company's 100%-owned lithium brine projects in Argentina
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) announced today the appointment of financial advisors, SD Capital Advisory Limited, to secure debt funding of up to US$25 million.
Lake Resources NL (ASX:LKE) (FRA:LK1) has delivered a major defined lithium brine resource during the year at the Kachi project.
Lake Resources NL (ASX:LKE)(FRA:LK1) is targeting early 2020 pre-production of initial lithium products at the Kachi Lithium Brine Project, Argentina, from a pilot plant using Lilac Solutions' direct extraction ion exchange process.