The drill program will be spread across the three projects, starting at the northern areas of the Olaroz leases, which cover 30km on the eastern side of established lithium producers. A second rotary drill rig is being sourced to potentially work alongside the diamond rig to quickly quantify brines identified, develop the aquifers and conduct pumping tests. Passive seismic geophysics are currently underway to be potentially followed by detailed electromagnetic geophysical surveys over key areas, once identified.
Brines will be sampled and tested with environmentally friendly direct lithium extraction methods, similar to previous work conducted on Kachi project lithium brines.This will be followed by a scoping study to expand future production, with Lake planning to commence pre-feasibility study work once a resource has been defined.
"Increasing demand expressed by potential offtakers for a secure supply of high quality, environmentally friendly lithium has encouraged Lake to drill and test our other 100 percent owned brine projects in
Lake has previously drilled and confirmed multiple high-grade lithium brines zones at it's
Lake holds mining leases over 47,000 hectares over the three lithium brine projects of Cauchari, Olaroz and Paso. At Olaroz, which is north of Cauchari, Lake's leases extend over 30 kilometres east and north of the adjoining
The new drilling follows recent drilling and DFS development work at Lake's flagship
These moves follow further upgrades in lithium demand forecasts by a range of analysts and increased electric vehicle (EV) production plans by major automakers. This demand highlights the need for increased supply of battery-grade lithium such as planned from the environmentally sustainable, direct lithium extraction method Lake will be using.
"Now is the perfect time to expand our resource base, with
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About
This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Contact:
Managing Director
T: +61-2-9188-7864
steve@lakeresources.com.au
For media queries, please contact:
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com
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