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Lake Resources advances drilling next to ‘world-class’ lithium projects

The company believes there is “great potential to identify high-grade lithium values” within the Lithium Triangle.

Drill rigs at Cauchari project
Drill rigs at Cauchari looking over to the adjoining major projects

Lake Resources NL (ASX:LKE) is progressing a drilling program at the Cauchari Lithium Brine Project in Argentina where results appear to show continuity of horizons extending from adjoining major projects.

Results from the project within South America’s prolific Lithium Triangle are proving similar to those obtained from the neighbouring properties described as being ‘world-class’.

These projects are held by Ganfeng Lithium Co Ltd (SHE:002460)/Lithium Americas Corp (NYSE:LAC) and Advantage Lithium Corp (CVE:AAL)/Orocobre Limited (ASX:ORE).

READ: Lake Resources shares rise after confirming further high-grade lithium brine at Cauchari

At the Cauchari project high-grade lithium brine results have been previously reported of up to 538 mg/L from high flow brines at a depth of 261 metres with low Mg/Li ratios.

Lake’s managing director Steve Promnitz said: “Lake has demonstrated proof that our Cauchari project is similar to the adjoining world-class projects, and with the drilling continuing to progress, we see great potential to identify high-grade lithium values.

“Together with our emerging Kachi project in PFS stage, Lake is confident of delivering increased value for shareholders amid growing demand for these increasingly strategic assets in the heart of the Lithium Triangle.”

Diamond drilling is progressing next to the Cauchari salt lake and adjoining the pre-production works of Ganfeng and Lithium Americas.

The drill rig experienced some challenging conditions due to sandy and/or gravel horizons and high fluid pressures.

Accordingly, drilling did not advance beyond the previously reported depth while the section was  cleaned, conditioned and drilled.

However, Lake said good progress was now being made towards the target zone.

Cauchari project with adjoining Ganfeng/Lithium Americas resource and Orocobre/Advantage Lithium resource.

READ: Lake Resources upsized $2.7 million placement to accelerate lithium drilling

This target is a sand horizon estimated between 350 and 450 metres which has recorded higher lithium values and fluid flows in the adjoining project.

Lake is clearly drilling in the same basin with similar brines, with even better results anticipated at depth.

Watch a video showing the drilling progress, activity in the area and the proximity to pre-production at the Lithium Americas/Ganfeng project is available (click here).

Quick facts: Lake Resources NL

Price: 0.06 AUD

Market: ASX
Market Cap: $46.63 m

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