A number of leases have recently been granted to enable exploration, following the company’s acquisition of lithium brine lease applications in Argentina.
The leases lie in the lithium triangle where the world’s largest and lowest cost production of lithium is located.
Leases have been granted to allow exploration in the Kachi Project area (9,000 hectares) in the Catamarca Province, with a series of adjoining leases anticipated for similar granting soon.
This area has been recently recognised as a potential lithium brine bearing basin.
The largest company in the lithium sector, Albemarle Corporation (NYSE:ALB), recently secured leases over the basin immediately to the west of the area.
Lake Resources’ exploration program will commences immediately and will extend into 2017 with grid sampling followed by geophysics and drilling aimed for early in the new year.
The company’s share price has increased by about 129% since June 2016, last trading at $0.08.
Lake Resources NL moves into the lithium triangle of Argentina
Published: 10:30 29 Nov 2016 AEDT