Lake Resources NL: Increasing Pilot Plant Samples for Potential Kachi Partners
Brisbane, Australia - Lithium explorer and developer Lake Resources NL (ASX:LKE) (FRA:LK1) announced today plans to send more lithium samples to potential project partners and off-takers amid growing interest in its Kachi Lithium Brine Project in Argentina.20,000 litres of lithium brine is being dispatched from the Kachi project to the pilot plant being built in California, USA, by Lilac Solutions, based on its potentially industry-disrupting direct extraction ion exchange process.
Designed by Silicon Valley-backed Lilac Solutions and international engineering company Hatch, the pilot plant aims to produce a high quality, low impurity product at low cost that is expected to attract premium pricing.
Lake is targeting pre-production in the first quarter 2020 from the pilot plant, with the first module completed.
Meanwhile, a pre-feasibility study is nearing completion for Kachi, which ranks amongst the top 10 global lithium brine resources with a maiden resource estimate of 4.4 million tonnes lithium carbonate equivalent (refer ASX announcement 27 November 2018).
Lake's Managing Director Steve Promnitz said: "We are pleased that the plant is producing samples and are keen to dispatch these to potential off-takers as quickly as possible to enable their evaluation of the effectiveness of the Lilac technology.
"We plan to produce the samples in California first to ensure the first modules are operating effectively prior to moving them to site. Lake is confident the Lilac process can deliver consistently high quality, low impurity products that suit the downstream market, with a quick, efficient and scalable extraction method that is also environmentally sustainable."
"Next year is set to mark a number of new milestones for Lake as we advance our key projects. With a strengthened Board and support from investors, we are confident of delivering increased value for shareholders in an environment where delivering quality lithium products will be crucial to success."
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
