Lake Resources NL (
- Larger diamond drilling rig with greater capability will be on site next week - rig has had recent success in the area drilling up to 500 metres deep - two rigs now operating at Cauchari.
- Foraco has third largest fleet of drilling rigs globally and is an expert in mining and water drilling.
- New rig delivers operational certainty necessary for LKE to produce assays from Cauchari.
Foraco International SA is the third largest global mineral driller providing innovative solutions for mining, and water projects across 22 countries and five continents. With the 3rd largest global fleet of drilling rigs, best-in-class safety standards and a versatile, well-trained international workforce with a proven track record in geologically complex formations we are uniquely positioned to satisfy the needs of customers operating around the world.
The new diamond drill (see Figures 1 & 2 in link below) will target depths of between 400 metres and 500 metres to collect samples. Reporting results from this hole is the Company's immediate priority.
Lake's Managing Director Steve Promnitz said: "We have every confidence in Foraco's capabilities and their experience drilling in these conditions. Their rig recently completed a successful hole nearby for a third party so we have the right contractor and drill rig deployed. With two rigs turning at Cauchari, Lake can deliver a lot of value in the near term. The Kachi project is also expanding and we expect to provide an update here also."
Lake will advise when the Foraco rig arrives on site and when it commences drilling within 2 weeks.
To view figures, please visit:
http://abnnewswire.net/lnk/5230N276
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.
Contact
Steve PromnitzManaging Director
Lake Resources N.L.
T: +61-2-9188-7864
E: steve@lakeresources.com.au
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