Quarterly Report
Brisbane, Feb 1, 2019 AEST (ABN Newswire) - Lake Resources NL (
ASX:LKE) provides the Company's Quarterly Report for the period ending 31 December, 2018.
HIGHLIGHTS
- Major 4.4 million tonnes lithium carbonate (LCE) JORC Resource released at the Kachi Lithium Brine Project with 1.0 million tonnes Indicated and 3.4 million tonnes Inferred resource categories.
- Kachi brine resource amongst the Top 10 global lithium brine resources, based on 15 holes (3150 metres) to depths of 400 metres in permeable sands.
- Phase 1 Engineering Study showed US$2600/tonne LCE operating costs (+/-30%) with Lilac Solutions direct lithium extraction process for the Kachi lithium brine.
- Rapid, robust, low-cost process Lilac option for producing lithium at Kachi generating a brine concentrate of over 25,000 mg/L lithium.
- Exploration Target defined at Kachi with 8-17 million tonnes LCE potential over a 20km x 15km area.
- Cauchari and Olaroz drilling program outlined for the coming months adjoin large scale lithium brine resources Orocobre production (ASX:ORE) and Ganfeng/Lithium Americas pre-production areas (NYSE:LAC).
- Drilling continues at Cauchari to test extensions of adjoining world-class brine resources.
- Leases expanded to over 200,000 hectares with four lithium projects in prime locations in Argentina, including an increase of 25% at Kachi.
- Funding of $1.25 million raised in December in notes and options conversions.
Lake Resources NL is an exploration and development company with one of the largest lithium lease holdings in Argentina recently expanded to over 200,000 hectares with four prime lithium projects: 3 brine projects and 1 hard rock project.
The Kachi Lithium Brine Project has a recently announced maiden resource of 4.4 million tonnes lithium carbonate (LCE) within an exploration target of 8-17 million tonnes LCE, within consolidated mining leases enlarged to cover 69,000 hectares over almost an entire salt lake. This places the resource amongst the Top 10 global lithium brine resources (see Figure 2 in link below).
The Olaroz-Cauchari and Paso Projects in Jujuy province are adjacent to Orocobre and Ganfeng/Lithium Americas and are being drilled for the first time. The objective is to show that extensions to known major resources of over 15 million tonnes LCE continue into Lake's properties.
The Catamarca Pegmatite Lithium Project, recently enlarged to over 80,000 hectares, is at an early exploration stage and displays large pegmatite swarms over an area of past production within a 150km long belt.
To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/RC0Y7TUB
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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