logo-loader
viewLake Resources NL

Lake Resources extends high-grade lithium brine zone discovered at Cauchari project within Lithium Triangle

The company is focused on tapping into the growing battery maker and electric vehicle manufacturer markets.

1563448509_lithium-periodic-11.jpg
Lake shares were up more than 6.5% to 6.5 cents in today's trading

Lake Resources NL (ASX:LKE) have extended the high-grade lithium brine zone discovered at its Cauchari Lithium Brine Project in Argentina.

Results showed consistent high grades from the base of the discovery hole and extending to 288 metres wide between depths of 172 and 460 metres.

Grades from 480 to 500 milligrams per litre lithium were returned below 289 metres depth down to 460 metres, with best results of 496 milligram lithium at the base of the hole over 73 metres to a depth of 460 metres.

 

Lake’s managing director Steve Promnitz said the excellent results further confirmed Lake’s major discovery at Cauchari and its similarity with adjoining projects moving into production.

He added that the find was now a wider pay zone of brine than at adjoining projects and even exceeded those reported from the area by the Advantage Lithium/Orocobre and the Ganfeng/Lithium Americas joint ventures.

Detailed sampling with a packer instrument has been completed and the drill hole is now being extended at depth.

READ: Lake Resources discovers multiple lithium brines over wide-spaced area at its Cauchari Lithium Brine Project in Argentina

Promnitz said the company was pleased that results were improving with depth.

He continued: “Cauchari continues to advance as a major project for Lake which added to our prospective Olaroz project.

“The world-class Kachi project comprises a portfolio of potentially highly valuable projects in the heart of the Lithium Triangle.”

READ: Lake Resources advances agenda for Argentinian assets in Lithium Triangle

Lake is focused on developing its three lithium brine projects and hard rock project in Argentina, all of which are 100%-owned.

The projects are in prime location among the lithium sector’s largest players within the Lithium Triangle where half of the world’s lithium is produced

The large landholding enables Lake the potential to provide consistent security of supply, scalable as required, which is demanded by battery makers and electric vehicle manufacturers.

Quick facts: Lake Resources NL

Price: 0.025 AUD

ASX:LKE
Market: ASX
Market Cap: $13.24 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Tocvan preparing for a busy 2020 on a project in Mexico with...

Tocvan (CSE: TOC) Director Brodie Sutherland joined Steve Darling in the Vancouver studio of Proactive to discuss the company’s Mexican asset. Sutherland talked about the history of the project and the advantages they have because of the location.  Sutherland also told Proactive what...

3 hours, 6 minutes ago

2 min read