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Lake Resources NL

Lake Resources discovers multiple lithium brines over wide-spaced area at its Cauchari Lithium Brine Project in Argentina

Cauchari adjoins other projects which are progressing to production from 2020

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The results show the potential for future production

Lake Resources NL (ASX:LKE) has discovered multiple lithium brines over a 144-metre interval at its 100%-owned Cauchari Lithium Brine Project in Argentina.

Lithium values between 340 and 538 milligrams per litre were returned from multiple high-flow brines with low milligram over lithium content ratios of 2.7-3.

Detailed sampling with a packer instrument is underway from 387 metres up the hole, to be followed by analysis, casing and geophysics.

The sampling is expected to be completed end of July together with casing prior to the rig moving to Lake’s Olaroz project.

 

Lake managing director Steve Promnitz said the company had a major discovery at Cauchari, with the potential to expand the zones in further drilling.

The brine zones were intersected higher in the sequence than expected and the hole was terminated at 460 metres, encountering less permeable clay horizons from 326 metres despite conductive brines being intersected at 356 metres and 386 metres.

The intersected brine zones confirm continuity from similar brines in adjoining major billion-dollar projects progressing to production from 2020 in the Lithium Triangle.

These include Ganfeng and Lithium Americas (ASX:LAC) and the Advantage Lithium (ASX:AAL) and Orocobre joint venture.

READ: Lake Resources advances agenda for Argentinian assets in Lithium Triangle

Promnitz continued: “The target brine zone has high grades and flow rates but intersected higher than anticipated and has all the same hallmarks of the adjoining project which is now moving into production.

“This is a great discovery adding to the development projects in the Lithium Triangle – Lake wants to build on these exciting Cauchari results.”

“We next plan to drill for the first time on our leases at Olaroz, which is now a focus given these favourable results and where we are targeting a 30-kilometre belt as an extension to the adjoining production aea, to show its potential before more drilling at Cauchari.

“If successful, Olaroz would provide a third advanced project, adding to Cauchari and our world-class Kachi project which will be essential new supply as demand for lithium rises over the next nine years due to the lithium-ion battery revolution in energy and transport.”

 

READ: Lake Resources reveals more conductive brines as hole deepens

Lake is focused on developing its three lithium brine projects and hard rock project in Argentina, all of which are owned 100%.

The projects are in 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 the region, about 200,000 hectares which the company secured in 2016.

The large land holding enables Lake the potential to provide consistent security of supply, scalable as  required, which is demanded by battery makers and electric vehicle manufacturers.

Quick facts: Lake Resources NL

Price: $0.06

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