Drilling to Commence at Kachi Lithium Brine Project
Brisbane, Oct 27, 2017 AEST (ABN Newswire) - Lithium exploration company Lake Resources N.L. (
ASX:LKE) ("Lake" or "LKE") held a successful local community meeting, together with the regulators, to complete the final step in the approval process to allow drilling to commence over the Kachi Lithium Brine Project in Catamarca.
- Final step in approval process completed with local community meeting and regulators
- Drilling rig providers plan to commence drilling within coming days
A diamond drill rig has been secured with initial payments made and the plan is to commence a maiden 1000m diamond drilling programme drilling in the coming days with formal approval.
Lake Resources' Managing Director Steve Promnitz, said from site: "The local community is keen to see the Kachi Project progress. This makes an important step in unlocking value over the lithium assets." The project manager, Mr Lopez, stated that "the local people commented that this is the first time in the district that a mining company has engaged directly with local people collaboratively".
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.
The company is focused 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.
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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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