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Lake Resources NL
Summary
| Project: | Kachi | |
|---|---|---|
| Deposit: | Kachi | |
| Location: | Argentina | |
| Commodities: | Lithium | |
| Date: | 11/27/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-11-2018: Lake Resources NL announces a Resource Estimation report for its Kachi deposit at the Kachi project. Initial mineral resource estimate at the project. Argentine-focused lithium exploration and project development company Lake Resources NL (ASX | |
| Resources: | (Resource, I+I): 4.4Mt LiCO3 equivalent contained | |
| CP/QP: | [Resources]: Andrew Fulton (Groundwater Exploration Services Pty Ltd.) | |
| ABSTRACT: | Argentine-focused lithium exploration and project development company Lake Resources NL (ASX:LKE) is pleased to release a large maiden resource estimate for Lake’s 100% owned Kachi Lithium Brine Project in Argentina (see Figure 1). The maiden resource estimate contains 1 Mt of lithium carbonate equivalent (LCE) as Indicated resources, and 3.4 Mt of LCE as Inferred resources, with a resource depth of 400m for both areas (see Table 2). Lake Resources Managing Director Steve Promnitz said: “We are very pleased to report such a significant maiden JORC Mineral Resource estimate for Kachi. The team advanced drilling within 12 months on an undrilled project, and defined a large resource and located a project that stands alongside the largest lithium projects in Argentina.” “We will expand the resource with more drilling and move into a pre-feasibility study using conventional and a direct extraction technology from Lilac Solutions which indicate high recoveries, low costs and a reduced time to production of lithium.” Project Background Lake Resources’ 100%-owned Kachi Lithium Brine Project in Catamarca province, Argentina covers 69,000 hectares (170,000 acres) with 36 mining leases owned by Lake’s Argentine subsidiary, Morena del Valle Minerals SA. These are held over the centre and southern extension of the salt lake at Kachi in the lowest point (around 3000 m altitude) of a large drainage area of approximately 6800 square kilometres (2500 square miles). The basin drains the lithium bearing volcanic rocks of Cerro Galan, which is interpreted to provide the lithium for the FMC Lithium (Livent) production at Hombre Muerto, together with hot springs. Surface samples with positive lithium results in brines were explored at depth through the drilling and geophysics programs. | |
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