LOI signed with Argentine Government Entity
Brisbane, Sep 11, 2017 AEST (ABN Newswire) - Lithium exploration company Lake Resources N.L. (
ASX:LKE), ("Lake" or "LKE") is pleased to confirm that its Argentine subsidiary has signed a Letter of Intent (LOI) with the Catamarca State mining and energy entity, CAMYEN, to aid the development of the Kachi Lithium Brine Project in Catamarca.
- Kachi project has been selected by the State of Catamarca to be accelerated together with a select few energy and mining projects in the province to ensure appropriate development
- Letter of Intent (LOI) is to facilitate the project through various permitting stages in exploration and development to production, including environmental and community support, while assisting in the provision of services
CAMYEN (Catamarca Minera y Energetica Sociedad Del Estado) has recent experience in assisting renewable energy projects and mining projects in the province, both with permitting, including presentations to the state and local authorities and communities, together with the provision of exploration services.
The Kachi Project covers over 50,000 Ha of mining leases owned by Lake's Argentine subsidiary, Morena del Valle Minerals SA, over the centre of the known salt lakes.
Lake Resources' Managing Director Steve Promnitz, said after leaving Government House: "We are pleased that our lithium brine project has been selected for state support and guidance. This is a key development which bodes well for an acceleration of the project towards development. It also clearly demonstrates that Kachi is regarded as project of real significance in Catamarca.
"Our team will now work closely and cooperatively with CAMYEN to ensure the development of Kachi meets all necessary guidelines. We look forward to updating shareholders on progress in Catamarca and with the work we are undertaking in Jujuy province."
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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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