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Lake Resources (ASX:LKE) sends additional lithium samples to California

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ASX:LKE      MCAP $97.89M
13 December 2019 15:12 (AEST)

Lake Resources (LKE) intends to send more lithium samples to potential partners and off-takers amid growing interest in the Kachi Project.

A total of 20,000 litres of lithium brine is being dispatched from the Kachi Lithium Brine Project in Argentina to the pilot plant being built in California by Lilac Solutions.

Designed by Lilac Solutions and international engineering company Hatch, the pilot plant aims to produce a high quality, low impurity product at a low cost that is expected to attract premium pricing.

Lake is targeting pre-production in the first quarter of 2020 from the pilot plant.

“We plan to produce the samples in California first to ensure the first modules are operating effectively prior to moving them to site,” Lake’s Managing Director Steve Promnitz commented.

“Lake is confident the Lilac process can deliver consistently high quality, low impurity products that suit the downstream market, with a quick, efficient and scalable extraction method that is also environmentally sustainable,” he added.

The Kachi Project is located in Argentina’s Catamarca Province at the southern end of the Lithium Triangle, a world-renowned province responsible for close to half of global lithium production.

Kachi comprises of 690 square kilometres of leases and lease applications over a brine-bearing basin that is 20 kilometres long, 15 kilometres wide and between 400 to 800 metres deep.

Additionally, a pre-feasibility study is nearing completion for Kachi, with a maiden resource estimate of 4.4 million tonnes lithium carbonate equivalent.

“Next year is set to mark a number of new milestones for Lake as we advance our key projects,” Steve stated.

“With a strengthened Board and support from investors, we are confident of delivering increased value for shareholders in an environment where delivering quality lithium products will be crucial to success,” he concluded.

Lake’s share price is steady today with shares trading for 2.5 cents apiece at 2:26 pm AEDT.

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