DFS Formally Commenced
Brisbane, Jan 8, 2021 AEST (ABN Newswire) - Clean lithium developer Lake Resources NL (
ASX:LKE) (LK1:FRA) (LLKKF:OTCMKTS) announced today the formal commencement of the Definitive Feasibility Study (DFS) for the Kachi Lithium Brine Project, with the appointment of Hatch as the lead consultant.
This builds upon the compelling and robust Pre-Feasibility Study (PFS) announced on 30 April 2020, into the technical and economic viability of Lake's Kachi Lithium Brine Project in Catamarca, Argentina, based on Lilac's sustainable direct lithium extraction process. Subsequently the project's potential to deliver high purity product (99.97% Li2CO3) required by battery makers was demonstrated by Hazen Research, as announced on 20 October 2020. This product has been sent to Novonix for incorporation into batteries.
The DFS is an important milestone in the development of the Kachi Lithium Brine Project as a sustainable and commercially successful producer of high quality lithium product for the rapidly growing battery market. Associated work streams to run in parallel with the DFS include the environmental impact study, continued community engagement, and a demonstration plant to be commissioned on-site later in 2021.
To manage the DFS and related work streams, the board of Lake Resources is pleased to announce that it has appointed Dr Nicholas Lindsay as Technical Director. Previously a Non-Executive Director of Lake Resources, Dr Lindsay is experienced in feasibility studies in South America, and is confidently expected to deliver the Kachi DFS by Q1 2022.
Managing Director Steve Promnitz commented: "The formal commencement of the DFS is a key step for Lake to deliver the Kachi project into production with ESG credentials in demand as the transition to EV's gathers pace. The bridging studies have been underway since the PFS and now the formal engagement of Hatch has occurred. Nick Lindsay's assistance with the PFS was invaluable and will now be expanded upon in the DFS."
About Lake Resources NL
Lake 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.
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