Lake Resources NL Expands Lithium Projects with New Drilling in Olaroz, Cuachari and Paso in Argentina

“The growing demand expressed by potential buyers for a secure supply of high quality and environmentally friendly lithium has encouraged Lake to drill and test our other 100% owned brine projects in Argentina, adding to our flagship project Kachi, ”said MD.

Lake Resources NL (ASX: LKE, OTCQB: LLKKF) has decided to expand lithium resources through drilling in wholly owned lithium brine projects at Olaroz, Cauchari and Paso in the province of Jujuy, in the north -western Argentina, from the end of January 2022.

The initial 10-hole, 4,000-meter drill program will be split between the three projects, with a second rotary drill that will work alongside the diamond rig to rapidly quantify identified brines, develop aquifers, and perform testing. pumping.

Passive seismic geophysics is already underway, followed by electromagnetic geophysical surveys if targets are identified.

The collected brines will be sampled and tested with environmentally friendly direct lithium extraction methods, similar to previous work on lithium brines from the Kachi project.

Lake will follow this with a scoping study to expand future production, with plans to begin pre-feasibility studies once a resource has been identified.

Respond to increased demand

“The growing demand expressed by potential buyers for a secure supply of high quality and environmentally friendly lithium has encouraged Lake to drill and test our other 100% owned brine projects in Argentina, adding to our flagship Kachi project ”, Steve Promnitz, Managing Director of Lake Resources. noted.

“Now is the perfect time to expand our resource base, with Argentina gaining more and more international investment due to the quality of its lithium resources.

“Having recently visited the project site and engaged with local stakeholders, we are keen to step up activity early in the new year to seize this window of opportunity for Lake.”

Lake owns 47,000 hectares of the three lithium brine projects.

New drilling at these sites follows recent work to develop a Definitive Feasibility Study (DFS) on the flagship Kachi project, aimed at doubling production targets to meet growing demand for high quality, quality lithium. battery, produced with environmentally friendly direct extraction processes.

LKE believes these additional projects have positioned it well to increase production with the support of export credit agencies and international investors.

The company says it is growing in response to improvements in lithium demand forecasts by a range of analysts and increased production plans for electric vehicles by major automakers.

About the lake’s resources

Lake Resources is a lithium developer using “clean” direct mining technology for the production of sustainable, high purity lithium from its flagship Kachi project in Argentina’s lithium triangle, among other projects covering 200,000 hectares.

Kachi is a large 70,000 hectare leasehold with an expandable resource of 4.4 million tonnes of lithium carbonate equivalent of which only 20% is used for 25 years of production at 25,500 tonnes per year.

The direct extraction method the company uses offers a solution to two growing demands for electric vehicle batteries: high purity battery materials to avoid performance issues, and more sustainable and responsibly sourced materials.