Lake Resources NL: Annual Report to Shareholders
Brisbane, Australia - Lake Resources NL (ASX:LKE) is located in the heart of the lithium triangle in South America where nearly half the world's production is sourced and all of which is at the low-cost end of the lithium cost curve. Your company is transitioning to pre-production of lithium product in the coming financial year, as a developer of lithium brine projects, from an exploration phase in the previous financial year.In the financial year just ended, a major JORC Mineral Resource was defined at the Kachi project placing it amongst the Top 10 lithium brine projects globally, which, together with a modern, efficient processing method will produce premium low-impurity lithium products sustainably into the future. Additionally, Lake now has a second well defined high-grade lithium brine project at Cauchari, thanks to successful drilling, extending a major near-production adjoining resource into Lake's leases. Lake has become one of only a few substantial lithium companies with multiple projects of significance in Argentina with a cost-effective pathway to production.
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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