“Increasing demand from potential buyers for a secure supply of high-quality, environmentally friendly lithium has encouraged Lake to drill and test our other 100%-owned brine projects in Argentina, adding to our Kachi lighthouse,” says MD.
Lake Resources NL (ASX:LKE, OTCQB:LLKKF) has decided to expand its lithium resources by drilling at wholly-owned lithium brine projects at Olaroz, Cauchari and Paso in the northwest province of Jujuy from Argentina, from the end of January 2022.
The initial 10-hole, 4,000 meter drilling program will be split between the three projects, with a second rotary drill rig being provided to work alongside the diamond pad to rapidly quantify identified brines, develop aquifers and carry out pumping tests.
Passive seismic geophysical work is already underway, which will be followed by electromagnetic geophysical surveys if targets are identified.
Collected brines will be sampled and tested with environmentally friendly direct lithium extraction methods, similar to previous work conducted on lithium brines from the Kachi project.
Lake will continue with an exploratory study to increase future production, with plans to begin pre-feasibility studies once a resource has been identified.
Respond to increased demand
“Increasing demand from potential buyers for a secure supply of high-quality, environmentally friendly lithium has encouraged Lake to drill and test our other 100%-owned brine projects in Argentina, adding to our Kachi lighthouse,” said Steve Promnitz, chief executive of Lake Resources. noted.
“Now is the perfect time to expand our resource base, with Argentina attracting 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 looking to ramp up our activities early in the new year to capture this window of opportunity for Lake.”
Lake owns 47,000 hectares on the three lithium brine projects.
The new drilling at these sites follows recent Definitive Feasibility Study (DFS) development work at the flagship Kachi project, aimed at doubling production targets to meet growing demand for high-quality battery-grade lithium. produced with environmentally friendly direct extraction processes.
LKE believes these additional projects have positioned it well to expand production with support from export credit agencies and international investors.
The company says it is expanding in response to updates to lithium demand forecasts by a range of analysts and increased electric vehicle production plans by major automakers.
About Lake 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 leasehold operation of 70,000 hectares with an expandable resource of 4.4 million tons of lithium carbonate equivalent of which only 20% is used for 25 years of production at 25,500 tons 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 materials that are more sustainable and responsibly sourced.