Lake Resources NL: Quarterly Report
The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost. Lake owns over 200,000 hectares (0.5 million acres) of leases, including one hard rock project, alongside all 5 major lithium producers.
- First lithium chloride samples successfully produced from Lilac pilot plant using Kachi brines, with high lithium concentrations similar to previously demonstrated at laboratory bench scale
- 20,000 litres of brines from Kachi continues to be processed at Lilac's pilot plant module in California
- Compelling and robust Pre-Feasibility Study (PFS) results for Kachi Lithium Brine Project in Argentina, show project capable of producing sustainable high-purity lithium carbonate to attract premium pricing.
- Long life, low cost operation with 25,500tpa LCE using Lilac Solutions' innovative sustainable direct extraction method at competitive operating and capital costs.
- High purity battery grade lithium carbonate samples (99.9%) demonstrated from Kachi Project.
- Discussions advanced with international financiers for funding advancement of Kachi Project.
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About Lake Resources NL:
Lake Resources NL (ASX:LKE) is a lithium exploration and development company focused on developing its three lithium brine projects and hard rock project in Argentina, all owned 100%. The leases are in a 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 Argentina (~200,000Ha) secured in 2016 prior to a significant 'rush' by major companies. The large holdings provide the potential to provide consistent security of supply demanded by battery makers and electric vehicle manufacturers.
The Kachi project covers 69,000 ha over a salt lake south of FMC's lithium operation and near Albemarle's Antofalla project in Catamarca Province. Drilling at Kachi has confirmed a large lithium brine bearing basin over 20km long, 15km wide and 400m to 800m deep. Drilling over Kachi (currently 16 drill holes, 3100m) has produced a maiden indicated and inferred resource of 4.4 Mt LCE (Indicated 1.0Mt and Inferred 3.4Mt) within a 8-17 Mt LCE exploration target (refer ASX announcement 27 November 2018).
A direct extraction technique is being tested in partnership with Lilac Solutions, which has shown 80-90% recoveries and lithium brine concentrations in excess of 3000 mg/L lithium and is planned to be trialled on site in tandem with conventional methods as part of a PFS to follow the resource statement. Scope exists to unlock considerable value through partnerships and corporate deals in the near term.
Lake Resources NL
Steve Promnitz Managing Director Lake Resources NL T: +61-2-9188-7864 E: firstname.lastname@example.org