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Lake Resources (ASX:LKE) Getting Boots on the Ground Across Project Portfolio

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Summary

  • Lake Resources owns multiple lithium projects across Argentina.
  • LKE’s flagship Kachi Project has delivered strong results for the Company, which is now expediting the development of its other lithium projects.
  • LKE is currently planning a pre-feasibility study for Cauchari and looks forward to testing further brines from Olaroz and Paso projects.

Emerging developer of high purity lithium, Lake Resources NL (ASX:LKE) has been looking to advance its lithium projects amid revolutionary times.

Lately, the Company has begun fast-tracking the development of its lithium projects across Argentina, on the back of strong market demand for the commodity. The company is focused on its flagship Kachi Project along with the Cauchari, Olaroz and Paso Brine projects.

Lake Resources’ latest step comes after the recent promising update on the Kachi Project, which saw its NPV revised to USD1.6 billion on the basis of 25,500 tpa of high-purity lithium production. Moreover, the company is currently engaged in assessment to expand the production even further.

INTERESTING READ: Is Lake Resources (ASX:LKE) in prime position to become a High-Purity Lithium supplier?

LKE intends to send lithium brine samples of around 50,000 litres from its Cauchari Project for testing. The groups specialising in the extraction of lithium and conversion of concentrates to lithium hydroxide will be conducting these tests, which would be supported by a scoping study to increase future production.

Upcoming Activities Across Projects

Besides its flagship Kachi Lithium Brine Project, Lake owns three other lithium brine projects in Argentina, covering 200 km2 of the area in a key location within the Lithium Triangle. For quite some time, LKE has been reporting success at its Kachi Project and has transformed from a lithium explorer to a lithium developer.

PREVIOUS UPDATE: Lake Resources refreshes PFS, doubles Kachi project value

LKE has plans to begin the pre-feasibility study work at Cauchari Project, comprising studies regarding environmental impact while drilling for a resource statement is set to commence later in the current calendar year.

Previously, LKE had established several high-grade lithium brines zones at the Cauchari Project via drilling in 2019. The drilling offered validation for similar grades and lithium brines extending into into LKE’s assets from the neighbouring Ganfeng/Lithium Americas JV production development at Cauchari.

GOOD READ: Lake Resources (ASX:LKE) full steam ahead at Kachi Project with DFS in progress  

All in all, LKE-owned mining leases in Jujuy Province stretch over 47,000 hectares and comprise three projects -  Cauchari, Olaroz and Paso Projects. The Company expects to begin drilling once approval is received for all planned holes. Additionally, LKE expects lithium demand to outstrip supply amid estimates of a substantial supply deficit surfacing from 2024.

RELATED: Lake Resources (ASX:LKE) Appoints Financial Advisors to Advance Kachi Project

LKE share price quoted at AUD0.33 with a market capitalisation of AUD329.73 million on 23 March 2021.

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