Companies:

 

Articles:

 
Mining

Drilling by Lake Resources reveals higher, deeper lithium grades at Kachi project

Go to Robin Bromby author's page
By Robin Bromby - 
Lake Resources ASX LKE higher deeper lithium grades Kachi project drilling
Copied

Argentina explorer Lake Resources (ASX: LKE) reports that drilling at its Kachi project in Catamarca province continues to confirm the large scale and quality of lithium-bearing brine.

The drilling has also revealed higher lithium grades and a large vertical extension of lithium-bearing brine.

Lake adds that, in one hole, results returned grades of between 180 milligrams per litre and 348mg/L.

And deeper drilling at that same hole, which is located in the southern sector of the central resource area, reveals lithium-bearing brines continue at depths between 400 metres and 610m.

Two holes drilled to 610m

That hole, K24D41, is the second drilled by Lake to 610m down hole.

Both it and the previous one drilled to that depth have proven the presence of brine “significantly deeper” than the company’s existing defined resources.

The best results from 242m to 250m below ground surface produced average grades of 348mg/L.

Chief executive officer David Dickson said these latest results will impact positively any future resource updates as part of the Phase 1 definitive feasibility study.

“With this second hole intercepting brine between the current bottom of the measured and indicated resource at 400m to 610m, it is becoming clear that there remains significant upside for the deposit,” he added.

Kachi history of successive resource increases

Lake Resources notes that the Kachi project has shown successive increases in mineral resource estimates since the maiden resource, announced in November 2018, was stated as 4.4 million tonnes of battery grade lithium carbonate equivalent (LCE) in inferred and indicated categories.

In January this year, Lake announced a measured and indicated LCE resource of 2.2Mt, with an estimated 3.1Mt in the inferred category.

This was increased again in June to more than 2.9Mt of measured and indicated LCE, along with 5.2Mt in the inferred category, making a total resource estimate of more than 8.1Mt of LCE.