Lake Resources NL

Lake Resources NL samples elevated lithium results in Argentina

Lake received results of up to 322 mg/litre lithium received.

The sampling covered about 20,000 hectares of salt lakes

Lake Resources NL (ASX:LKE) has received elevated results of up to 322 mg/litre lithium from initial surface auger samples at the Kachi Lithium Brine Project in Catamarca, Argentina.

An aggressive exploration program had recently commenced with a systematic brine sampling program over the lithium brine salt lakes at the Kachi Project.

The sampling over the salt lakes covered about 20,000 hectares within the current lake leases of almost 50,000 hectares.

40 surface samples have been prioritised for analysis.

The best initial results from the program include 322 mg/litre lithium and 209 mg/litre lithium.

Lake is anticipating better results towards the centre of the salt lake when results are available for the remaining samples.

The exploration program will continue with ground based electrical geophysics followed by drilling.

Lake has already completed systematic auger and pit sampling at 500 metre spaced points.

The geophysics and sampling is expected to provide effective targeting for the drilling program to follow.

Lake successfully completed a share placement in December 2016 with $1.05 million raised, at $0.065 per share to sophisticated and professional investors.

The company holds cash of $1.16 million as at 31 December 2016 with no debt.

Quick facts: Lake Resources NL

Price: $0.06

Market: ASX
Market Cap: $27.74 m

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