Drilling underway at Kachi Lithium Brine Project
Brisbane, Nov 16, 2017 AEST (ABN Newswire) - Lithium exploration company Lake Resources N.L. (
ASX:LKE) ("Lake" or "LKE") is pleased to announce the commencement of diamond drilling over its 100%-owned Kachi Lithium Brine Project in Catamarca. All signed approvals from regulators have now been received.
- Drilling has commenced over the lithium bearing salt lake of the Kachi Lithium Brine Project in Catamarca Province, Argentina
- Diamond drill rig is on site and the technical team has been expanded to allow for an extended program
- Initial diamond drill programme is for 1,000m with capacity to expand program
A maiden 1,000m diamond drilling programme is being undertaken and can be extended pending the outcome of assay results.
Lake Resources' Managing Director Steve Promnitz said from site: "Drilling is now underway. This is an important milestone for the company and the local community with the drilling program a key catalyst to unlocking the burgeoning value in these well-located lithium assets.
"We eagerly anticipate the first set of assay results which we will report as soon as possible. Should the initial results be positive, we will extend drilling beyond the first 1,000 metres."
Project Background
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 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.
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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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