Quarterly Activities Report Ending 31 March 2018
Brisbane, April 30, 2018 AEST (ABN Newswire) - Lake Resources NL (
ASX:LKE) provides the Company's Quarterly Activities Report for the period ending 31 March 2018.
HIGHLIGHTS
- Four prime lithium projects - 3 brine projects and 1 hard rock project in Argentina - with one of the largest lithium lease holdings in Argentina of 180,000 hectares, including areas under option.
- Landmark agreement signed with Jujuy Province in Argentina confirmed tenure of Lake's ~45,000 Hectares of leases 100% owned in world class lithium production area
- Olaroz-Cauchari leases adjoin lithium brine production / development projects in Jujuy, Argentina in the same basin as Orocobre and SQM/Lithium Americas. Activity on Lake leases had been stalled for two years pending approvals but now granted.
- Leases were pegged prior to the recent rush for lithium projects with the process underway to commence drilling after the standard process is completed
- Three rigs drilling at the Kachi Lithium Brine Project in Catamarca. Results soon from conductive brines in porous sandy horizons over 11 km distance.
- Kachi Lithium Brine Project is a large salt lake 20 km x 12 km owned 100% by Lake with ~54,000 ha leases.
- Lake raised A$4.5 million (before costs) in March 2018 in an oversubscribed private placement at $0.135 per share with an attached 1-for-2 option at $0.20 which the company is seeking to have listed.
- Lake is sufficiently funded to pursue current exploration initiatives with $4.2 million cash position.
Lake Resources NL is an exploration and development company with one of the largest lithium lease holdings in Argentina of 180,000 ha, including areas under option with four prime lithium projects: 3 brine projects and 1 hard rock project. Each project is capable of being a 'company maker'.
These include the Kachi Lithium Brine Project which covers ~54,000 ha of consolidated mining leases over a previously undrilled salt lake; the Olaroz/Cauchari and Paso Projects in Jujuy province adjacent to Orocobre and SQM/Lithium Americas; and the Catamarca Pegmatite Lithium Project (~72,000 ha), under option, with large pegmatite swarms over 150km of strike.
To view the full report with figures, please visit:
http://abnnewswire.net/lnk/0YUV73RL
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.
| ||
|
