Lake Resources NL: Dec Quarter Activities and Cashflow Report
25.01.2021 | ABN Newswire
Brisbane, Australia - Lake Resources' (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) 100%-owned Kachi Lithium Brine Project in Catamarca province, NW Argentina, covers 39 granted mining leases (74,380 hectares), centred around a previously undrilled salt lake within a large lithium brine-bearing basin. Kachi is one of the few salt lakes in Argentina with substantial proven lithium brines controlled by a single owner. The project is located at about 3000 metres altitude, south of Livent's Hombre Muerto Lithium brine operation (NYSE:LTHM) which is Argentina's longest operating lithium brine project.Lake aims to bring the project to production by using the efficient, low cost-competitive direct extraction technology from Lake's technology partner, Lilac Solutions Inc, in California. Lilac has successfully produced high purity lithium chloride eluate from Kachi Project brine samples using its proprietary ion-exchange direct lithium extraction method at pilot plant module scale in California (refer ASX announcement 3 July 2020). Samples of this lithium chloride were further processed into high purity 99.97% lithium carbonate by an independent laboratory, Hazen Research Inc, in Colorado (refer ASX release 6 August 2020; 20 October 2020). Hazen continues to produce lithium carbonate samples for Lake.
Pricing in the lithium carbonate market is largely determined by purity, and the level and type of impurities. The high purity results indicate premium pricing potential, higher than previously envisaged. The Pre-Feasibility Study (PFS) (refer ASX announcement 30 April 2020) was based on achieving 99.9% lithium carbonate and a fixed selling price of US$11,000/t.
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About Lake Resources NL:
Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.
This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Source:
Lake Resources NL