Sources Additional Rigs to Fast Track Drill Programme at Kachi Lithium Brine Project
Expansion of Drilling at Kachi
Sydney, Feb 22, 2018 AEST (ABN Newswire) - Lithium exploration company Lake Resources N.L. (
ASX:LKE) ("Lake" or "LKE") has sourced an additional larger rotary drilling rig to accelerate the drilling of lithium brines within porous sands, which are excellent host horizons, at the Company's 100%-owned Kachi Lithium Brine Project in Catamarca.
- Drilling will be expanded within lithium brines at Lake's 100%-owned Kachi Lithium Brine Project in Catamarca Province, Argentina.
- An additional larger rotary drill rig has been contracted to support the current rig and accelerate the drilling programme.
- Thick porous sands identified provide the target of this drill programme as sands are excellent horizons for brines and may show significant grades as suggested by nearby third party drilling.
- Discussions are well advanced to grant access to areas in Jujuy Province adjacent to SQM/Lithium Americas' and Orocobre's respective projects in Jujuy.
Drilling is aimed at reaching target depths of 200m to 350m to intersect further brine horizons which are anticipated at depth. These may show significant results as suggested by nearby third party drilling with results above 250 mg/L lithium below 170m depth.
Drilling commenced with a rotary drill rig this month. However, minor delays have been due in part to sourcing drilling supplies and weather conditions. A decision was made to source an additional rig to commence in the coming week. This has delayed the anticipated assay results for brine samples.
Kachi Lithium Brine 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 and drilling has shown conductive brines in thick porous sands with the potential for a significant lithium brine basin.
The Company has a focus on an inclusive approach with local communities together with appropriate environmental management. A Letter of Intent was signed with Catamarca Province to facilitate the project through various permitting stages from exploration to production which bodes well for the future.
Update on Olaroz Cauchari Project in Jujuy Province
Lake is also pleased to advise that discussions are well advanced to grant exploration access to areas within Lake's ~45,000 ha Olaroz-Cauchari Project and Paso Project in Jujuy Province. The project is adjacent to SQM/Lithium Americas development project and Orocobre's lithium production and targets the same aquifers.
To view figures, please visit:
http://abnnewswire.net/lnk/93C9242A
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.
| ||
|
