Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) can confirm that a further 20,000 litres of brine samples from a number of wells is being sent from Lake's Kachi Lithium Brine Project to Lilac Solutions' pilot plant in California.
Lake Resources NL
Lake Resources NL (ASX:LKE) is a lithium exploration and development company focused on developing its three lithium brine projects and hard rock project in Argentina, all owned 100%. The leases are in a prime location among the lithium sector's largest players within the Lithium Triangle, where half of the world's lithium is produced. Lake holds one of the largest lithium tenement packages in Argentina (~200,000Ha) secured in 2016 prior to a significant 'rush' by major companies. The large holdings provide the potential to provide consistent security of supply demanded by battery makers and electric vehicle manufacturers.
The Kachi project covers 69,000 ha over a salt lake south of FMC's lithium operation and near Albemarle's Antofalla project in Catamarca Province. Drilling at Kachi has confirmed a large lithium brine bearing basin over 20km long, 15km wide and 400m to 800m deep. Drilling over Kachi (currently 16 drill holes, 3100m) has produced a maiden indicated and inferred resource of 4.4 Mt LCE (Indicated 1.0Mt and Inferred 3.4Mt) within a 8-17 Mt LCE exploration target (refer ASX announcement 27 November 2018).
A direct extraction technique is being tested in partnership with Lilac Solutions, which has shown 80-90% recoveries and lithium brine concentrations in excess of 3000 mg/L lithium and is planned to be trialled on site in tandem with conventional methods as part of a PFS to follow the resource statement. Scope exists to unlock considerable value through partnerships and corporate deals in the near term.
The Olaroz-Cauchari and Paso brine projects are located adjacent to major world class brine projects either in production or being developed in the highly prospective Jujuy Province. The Olaroz-Cauchari project is located in the same basin as Orocobre's Olaroz lithium production and adjoins Ganfeng Lithium/Lithium Americas Cauchari project, with high grade lithium (600 mg/L) with high flow rates drilled immediately across the lease boundary.
Two drill rigs are currently drilling at Cauchari with results anticipated to extend the proven resources in adjoining properties into LKE's area with results anticipated from November into December 2018. This will be followed by drilling extensions to the Olaroz area in LKE's 100% owned Olaroz leases.
Significant corporate transactions continue in adjacent leases with development of Ganfeng Lithium/Lithium Americas Cauchari project with Ganfeng announcing a US$237 million for 37% of the Cauchari project previously held by SQM. Nearby projects of Lithium X were acquired via a takeover offer of C$265 million completed March 2018. The northern half of Galaxy's Sal de Vida resource was purchased for US$280 million by POSCO in June 2018. These transactions imply an acquisition cost of US$55-110 million per 1 million tonnes of lithium carbonate equivalent (LCE) in resources.
The demand for lithium continues to be strong for lithium ion batteries in electric vehicles, according to recent data from the leading independent battery minerals consultant, Benchmark Mineral Intelligence. Supply continues to be constrained suggesting good opportunities for upstream lithium companies.
Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) announce that the Extraordinary General Meeting of the Shareholders to which this Notice of Meeting relates will be held at 11:00am AEST on May 2020 at Automic Group, Level 5, 126 Phillip Street, Sydney NSW 2000
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has announced that the impact is limited on the operations of Lake's subsidiaries due to the new restrictions on travel and movements set out recently by the government in Argentina.
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to provide investors with an opportunity to participate in an investor briefing via Webinar.
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) announced today that testing has been progressing of lithium brine samples from Lake's Kachi Lithium Brine Project using its U.S. technology partner Lilac's direct extraction ion exchange pilot plant module in Oakland, California.
Lake Resources NL (ASX:LKE) (FRA:LK1) holds three lithium brine projects in Argentina including one project, Kachi, moving into pre-production with the construction of a direct extraction pilot plant. Lake holds one of the largest lease holdings of lithium in the heart of the Lithium Triangle in South America.
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) has issued 7,000,000 shares at an issue price of $0.04, being the final tranche of shares to be issued by the Company under its private placement to sophisticated and professional investors
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) together with its technology partner, Lilac Solutions, confirm that 20,000 litres of brine samples from Lake's Kachi Lithium Brine Project in Argentina have arrived at Lilac's direct extraction ion exchange pilot plant module in Oakland.
Share Purchase Plan (SPP) Upsized Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) announced today it has upsized the Share Purchase Plan Offer by $1.0 million to raise a total of $2.5 million before costs, due to overwhelming shareholder demand.
Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) announced today a further boost for its growth plans, following strong investor support that will facilitate the development of sustainable and scalable direct extraction technology at its flagship Kachi Lithium Brine Project.