Lake Resources NL (ASX: LKE) Forage Olaroz, Cauchari, Paso Lithium Projects

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Drilling of the Olaroz, Cauchari, Paso Lithium projects

Sydney, December 16, 2021 AEST (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX: LKE) (FR: LK1) (OTCMKTS: LLKKF) aims to expand its lithium projects and potential resources with new drilling on the lithium brine projects 100% owned by Lake in Olaroz, Cauchari and Paso from the end of January 2022 with a 10-hole drilling program of 4000 m. These projects are located in the province of Jujuy, in the north-west of Argentina, near the Allkem (Orocobre) Olaroz operation and the Lithium Americas – Ganfeng Cauchari project.

The drilling program will be spread over the three projects, starting with the northern areas of the Olaroz concessions, which cover 30 km on the east side of established lithium producers. A second rotary drilling rig is being researched to potentially work alongside the diamond rig to rapidly quantify identified brines, develop aquifers, and perform pumping tests. Passive seismic geophysical studies are currently underway to potentially be followed by detailed electromagnetic geophysical surveys over key areas, once identified.

The brines will be sampled and tested with environmentally friendly direct lithium extraction methods, similar to previous work on lithium brines from the Kachi project. This will be followed by a scoping study to expand future production, with Lake planning to begin pre-feasibility study work once a year. resource has been defined.

“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 project. Lighthouse Kachi, ”Lake General Manager Steve Promnitz said.

Lake has already drilled and confirmed several zones of high grade lithium brine on its Cauchari project over an interval of 506 m (102 to 608 m deep) (see ASX announcement dated 23 August 2019). This drilling confirmed similar grades and extended lithium brines in the Lake properties from the adjacent Ganfeng / Lithium Americas JV production development at Cauchari. Higher quality results averaged 493 mg / L lithium over 343 m (117 m to 460 m), up to 540 mg / L. Lake anticipates similar potential to Olaroz and Paso.

Lake holds mining leases on 47,000 hectares on the three lithium brine projects of Cauchari, Olaroz and Paso. At Olaroz, which lies north of Cauchari, the Lake leases extend 30 kilometers east and north of adjacent Allkem (Orocobre) Olaroz lithium production leases.

The new drilling follows recent DFS drilling and development work on Lake’s flagship Kachi Lithium project to double the production target to meet growing demand for high-quality, battery-grade lithium produced through the environmentally friendly direct extraction process. These additional projects put Lake in a good position to increase production, with the support of export credit agencies and international investors.

The measures follow further improvements in lithium demand forecasts by a series of analysts and increased production plans for electric vehicles (EVs) by major automakers. This demand highlights the need to increase the supply of battery grade lithium, as expected from the environmentally sustainable direct lithium mining method that Lake will use.

“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. year to seize this window of opportunity for Lake, ”added Mr. Promnitz.

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About Lake Resources NL

Lake resourcesLake Resources NL (ASX: LKE) (OTCMKTS: LLKKF) is a clean lithium developer using clean direct mining 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 occupy a prime location in the Lithium Triangle, where 40% of the world’s lithium is produced at the lowest cost.

This method will allow Lake Resources to be an efficient, responsible, environmentally friendly and competitive supplier of high purity lithium, easily scalable and in demand by manufacturers of electric vehicles and Tier 1 batteries.

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