Successful permitting progress in Jujuy, Argentina
Brisbane, May 30, 2017 AEST (ABN Newswire) - Argentinean focused lithium exploration company Lake Resources N.L. (
ASX:LKE) ("Lake" or "LKE") is pleased to confirm the successful permitting progress of ~49,000 hectares of exploration applications at its Olaroz - Cauchari Lithium Brine Project in the Jujuy Province, Argentina.
The applications adjoin the production leases owned by Orocobre and SQM/Lithium Americas and have the potential to display lithium in the same aquifers.
Nearly 50,000 Ha of prime lithium brine areas were applied for "pre-boom" by the private company that was acquired by Lake Resources in Nov 2016. Some administrative issues led to delays in these applications being processed. These have now been resolved with applications totalling ~49,000 hectares now successfully moving to permitting stage.
Lake's subsidiaries are working closely with the local regulators to promptly progress the applications to allow access to the areas.
Lake's Managing Director, Steve Promnitz, said: "This is a very significant development for Lake Resources. In a sought after area, we are working cooperatively with relevant authorities to progress these projects into full scale exploration.
"The applications were made well before lithium exploration assets started commanding very high valuations, and Lake has been fortunate to secure applications in an area that can only be described as first grade. The true value of these applications will be realised through comprehensive exploration."
The locations of Lake's Olaroz - Cauchari Lithium Brine Project in relation to Orocobre and SQM/Lithium Americas projects are illustrated in Figure 1 in link below.
To view figures, please visit:
http://abnnewswire.net/lnk/0336S48O
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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