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Lake Resources NL
Summary
| Project: | Cauchari | |
|---|---|---|
| Deposit: | Cauchari | |
| Location: | Argentina | |
| Commodities: | Lithium-Magnesium-Potassium | |
| Date: | 8/23/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-8-2019: Lake Resources NL announces an Exploration/Drilling Update report for its Cauchari deposit at the Cauchari project. Drilling results incl. 343m @ 493 mg/L Li. Lake Resources NL (ASX: LKE) announced today high-grade final results from its 100% o | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Fulton (Groundwater Exploration Services Pty Ltd.) | |
| ABSTRACT: | Lake Resources NL (ASX: LKE) announced today high-grade final results from its 100% owned Cauchari Lithium Brine Project which confirm a significant discovery, interpreted as an extension to the world-class neighbouring project moving to production next year in the heart of the Lithium Triangle. The high-grade results averaged* 493 mg/L lithium over 343m (from 117m to 460m), up to 540 mg/L, with a Li/Mg ratio of 2.9. These results are similar to the adjoining major Cauchari project of Ganfeng/Lithium Americas (NYSE:LAC) which has a Measured and Indicated Resource of 17.9Mt LCE at 581 mg/L lithium (Apr 2019 NI 43- 101) (1 ). Lake’s results lead to an interpretation of an extension of the adjoining project, with a marginal difference in grade, in the same basin (refer table below with the range of lithium grades and intervals). Brines were intersected over 506m from 102m to 608m. Lower flow rates below 465m depth led to the hole being completed at 608m. A test sample of almost the entire hole averaged 444 mg/L lithium over 476m from 132m down to 608m. The drillhole has had slotted casing installed to allow for future testing. | |
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