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Lake Resources NL
Summary
| Project: | Kachi | |
|---|---|---|
| Deposit: | Kachi | |
| Location: | Argentina | |
| Commodities: | Lithium | |
| Date: | 10/22/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-10-2018: Lake Resources NL announces an Exploration/Drilling Update report for its Kachi deposit at the Kachi project. Drilling results incl. 60m @ 326mg/l Li from 237m. Argentine-focused lithium exploration and project development company Lake Resourc | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Fulton (Groundwater Exploration Services Pty Ltd.) | |
| ABSTRACT: | Argentine-focused lithium exploration and project development company Lake Resources NL (ASX: LKE) has extended drilling activities at its 100%-owned Kachi Lithium Brine Project in Catamarca Province with assay results reinforcing the large scale and quality of the discovery. Recent drill results returned 314-332 mg/L lithium over 60 metres in drillhole K08R14 averaging 326 mg/l lithium. Brine samples in this hole display encouraging densities with a favourable Mg/Li ratio of 3.8. This follows averaged results of 306 mg/L lithium over 24 metres (213 – 237m) from hole K03R03 indicating consistent brine chemistry throughout the stratigraphic profile in the western sector of this project area. To date, the lithium brines analysed show positive chemistry with low combined impurities (boron, sulphate, calcium, magnesium, iron). Visually,sediments suggest high porosities and permeabilities, with laboratory porosity and permeability results anticipated soon. Brines extend from near- surface to at least 400 metres depth consistently, and geophysics suggest 600-800 metres depth. The drilling advances the Kachi discovery towards an initial resource target estimate, with data from a further hole, K04R15 in the western area (refer Figure 1 below), due prior to the resource estimation. The western area of the basin is being targeted at present for completion of the resource estimation. A number of sample results are pending from recent drilling, and regular updates will be provided as drilling progresses. An exploration target will be provided in the next two weeks as a precursor to the resource estimate. Resource Drilling – Kachi Lithium Brine Project Lake Resources’ 100%-owned Kachi Lithium Brine Project in Catamarca province, Argentina covers over 50,000 hectares of mining leases owned 100% by Lake’s Argentine subsidiary. These are held over the centre of the known Kachi salt lake in the deepest part of the basin. Surface sampling revealed positive lithium results in brines, supported by positive results in drilling from surface to depth and through geophysics programs | |
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