Important Progress Towards DFS Completion
Sydney, Aug 23, 2023 AEST (ABN Newswire) - Clean lithium developer Lake Resources NL (
ASX:LKE) (LK1:FRA) (LLKKF:OTCMKTS) confirms that it is on track to complete the Definitive Feasibility Study (DFS) for its flagship Kachi project ("Kachi") by December 2023, as previously announced.
"We have drilled deeper for better grades and improved our drilling performance by 40 percent this year," Lake CEO David Dickson said.
"Grades from recent extraction tests are 20 percent higher than exploration samples and we can expect further JORC updates prior to submitting the DFS."
Dickson said the process plant had been relocated closer to the resource extraction area.
The revised plant Plot Plan has been drafted, for this new location, with a model review now scheduled.
He said Lake had now demonstrated the viability of extraction and injection in its core resource area.
In the attached ASX presentation and in an investor webinar today Lake also gives details on the power solution for the project. The base case for the project includes an off-grid solution for train 1 commissioning and start-up with connection to the grid for full Phase 1 capacity. Lake continues to review alternatives including a full off-grid solution for Phase 1 built around solar and battery storage with technical reviews ongoing at this time.
"We have revised our design to include capability for off-grid commissioning and early production of Lithium Carbonate," Dickson said.
"We are pleased to now have the optionality for a power solution, and we are also considering aspects of grid connection and the needs of local communities."
Mr. Dickson said he had visited Argentina recently and had productive meetings with mining regulators and federal, state, and local governments.
"We continue working with United States and Argentina authorities on strengthening the lithium supply chain."
He said he was also having regular updates with Export Credit Agencies in the United Kingdom and Canada and with offtake partners while working with strategic advisors on capital management.
The webinar can be accessed here:
https://app.webinar.net/nm8qZ6bZbda
*To view the webinar presentation, please visit:
https://abnnewswire.net/lnk/8208707F
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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