Drilling to Commence in Coming Weeks at Kachi Lithium Brine Project
Brisbane, Oct 11, 2017 AEST (ABN Newswire) - Lithium exploration company Lake Resources N.L. (
ASX:LKE) ("Lake" or "LKE") has been advised that the Kachi Lithium Brine Project in Catamarca is in the final process of approvals for drilling to commence, which is anticipated to occur within the coming weeks.
- Final approval process is being completed in conjunction with regulators
- Contracts are being completed with service providers together with initial payments
Lake intends to commence its maiden 1000m diamond drilling programme immediately upon receipt of final approvals. Contracts with the service providers are being completed together with initial payments.
The Kachi Lithium Brine Project covers over 50,000 Ha of mining leases owned 100% by Lake's Argentine subsidiary, Morena del Valle Minerals SA, over the centre of the known salt lakes in the deepest part of a large basin. Surface sampling has revealed positive lithium results which will be expanded through the drilling program and geophysics.
Lake Resources' Managing Director Steve Promnitz, said: "This will be a key milestone for the company and marks an important step in unlocking the value of our extensive portfolio of lithium exploration assets in Argentina."
The company has a focus on an inclusive approach with local communities together with appropriate environmental management. The Kachi Project was selected by the State of Catamarca to be accelerated, together with a small group of energy and mining projects in the province, to ensure appropriate development. A Letter of Intent was signed to facilitate the project through various permitting stages in exploration and development to production which bodes well for the future.
Lake will keep shareholders updated on progress at Kachi and progress being made with its other projects.
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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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