Lake Resources NL: Cauchari - Further Conductive Brines Intercepted
Brisbane, Australia - Lake Resources NL (ASX:LKE) announced today that further conductive brines have been intercepted and sampled in the drillhole operated by the Foraco diamond rig at Lake's 100% owned Cauchari Lithium Brine Project in Argentina (see Figures 1, 5 in link below).- More conductive brines intercepted with higher readings at approximately 186m depth, with more encouraging conductivities of 225 mS/cm and density readings of 1.200 g/cm3.
- These preliminary conductivity field results compare favourably to publicly available results from the adjoining major project.
- Diamond drill rig has conditioned, sampled and cased the hole to 180 metres and is now below 205m at Lake's Cauchari Lithium Brine Project, Argentina. The target is a ~350-450m deep sand horizon.
Conductive brines with higher readings were intercepted and sampled at a depth of 186m, with more encouraging conductivities of 225 mS/cm and density readings of 1.200 g/cm3. This compares favourably to conductivities of 184 mS/cm and density readings of 1.170 g/cm3 at depths of 130-150m reported previously.
This testing and sampling is very preliminary using field testing techniques and accredited results will follow. The diamond drill rig has conditioned, sampled and cased the hole to 180m, is now below [205m] and is targeting a sand horizon estimated between 350-450m.
Current drilling aims to unlock value from this rapidly emerging project, located immediately adjacent to a world-class brine project in pre-production in the Lithium Triangle, approximately 500m from the Ganfeng/Lithium Americas Corp. Cauchari project. Lake is targeting the same sand horizons.
Commenting on the latest update, Lake's Managing Director Steve Promnitz said: "Further conductive brines have been intercepted with higher field results than previously reported at depths of 130-150m. This continues to support our long held view that the brines extend under the alluvial cover on our leases. Further results will be released when available and progress to date with this rig has been very encouraging."
To view figures, please visit:
http://abnnewswire.net/lnk/03NJ4Q8X
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.
Source:
Lake Resources NL
Contact:
Steve Promnitz Managing Director Lake Resources NL T: +61-2-9188-7864 E: steve@lakeresources.com.au