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Lake Resources NL
Summary
| Project: | Cauchari | |
|---|---|---|
| Deposit: | Cauchari | |
| Location: | Argentina | |
| Commodities: | Lithium-Magnesium-Potassium | |
| Date: | 6/12/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 12-6-2019: Lake Resources NL announces an Exploration/Drilling Update report for its Cauchari deposit at the Cauchari project. Up to 538 mg/L Lithium returned from high flow brines at 261m depth. Lake Resources NL (ASX: LKE) announced today further high-g | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Fulton (Groundwater Exploration Services Pty Ltd.) | |
| ABSTRACT: | Lake Resources NL (ASX: LKE) announced today further high-grade lithium brine results from high flow brines following drilling at its 100% owned Cauchari Lithium Brine Project in Argentina. These ongoing brine results show continuity over a series of horizons with adjoining major projects (Figures 1-4), further increasing Lake’s confidence in Cauchari and Lake’s ability to replicate the success of nearby multi-billion dollar projects located in the heart of the Lithium Triangle. High grade conductive brines with lithium values up to 538 mg/L were returned from high flow brines at a depth of 261m with low Mg/Li ratios. These results over a series of horizons are similar to lithium brine horizons announced from the adjoining preproduction area, showing continuity with Ganfeng/Lithium Americas (LAC) and the Advantage Lithium (AAL)/ Orocobre joint venture that are attracting significant corporate transactions. Lake is clearly drilling in the same basin with similar brines, with even better results anticipated at depth (refer to ASX announcement 28 May 2019 for past results announced from adjoining projects). These are preliminary results and larger samples will be collected once the hole is completed. The diamond drill rig is now below 290m, although drilling has been challenging requiring more time due to high fluid pressures. The target is a sand horizon estimated between 350-450m which has recorded higher lithium values and fluid flows in the adjoining project. | |
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