Lake Resources NL: Quarterly Activities and App 5B
Brisbane, Australia - Lake Resources NL (ASX:LKE) (FRA:LK1) provide the Quarterly Activities report for the period ending December 31, 2019.HIGHLIGHTS
- Pre-Feasibility Study (PFS) is near completion for the Kachi Lithium Brine Project in Argentina, a major lithium project in the Lithium Triangle.
- Large volume high purity lithium carbonate with very low impurities to be produced from Lake's Kachi Lithium Brine Project for off-takers in Asia. Delivery to commence from March 2020.
- 20,000 litres of brines currently underway to arrive at pilot plant in California soon after the end of January 2020.
- Pre-production targeted in early 2020 from pilot plant using Lilac Solutions' direct extraction ion exchange methodology expected to produce at the lower part of industry cost curve.
- London based, SD Capital Advisory Limited appointed to secure debt funding of up to US$25 million for DFS, permitting and lithium pre-production from its Kachi Lithium Brine Project in Argentina.
- Capital raising underway for purpose of increasing shareholder value with intent to repay convertible notes; update due by 10 February.
To view the quarterly report, please visit:
https://abnnewswire.net/lnk/XT0ZOC08
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
