Investing

Kachi Drill Program Expands to Support Future Production Increase | INN

Lake expands drill testing at flagship Kachi Lithium Brine Project to support an expansion of future production, amid strong demand for high quality, sustainable product and increased investor focus on Argentina. Four well 1600m drill program with sampling and pump testing program to commence. Program aims to upgrade Kachi’s 4.4 Mt LCE Total Resource from … Continued

  • Lake expands drill testing at flagship Kachi Lithium Brine Project to support an expansion of future production, amid strong demand for high quality, sustainable product and increased investor focus on Argentina.
  • Four well 1600m drill program with sampling and pump testing program to commence.
  • Program aims to upgrade Kachi’s 4.4 Mt LCE Total Resource from M&I Resources to Reserves for Kachi’s Definitive Feasibility Study (DFS).
  • A further aim is to upgrade current inferred resources to the M&I category to allow for expansion beyond the 25,500 tonnes per annum lithium carbonate planned in the DFS.

Clean lithium developer Lake Resources NL (ASX:LKE; OTC:LLKKF) is expanding drilling and testing beyond that required for the Definitive Feasibility Study (DFS) at the Company’s flagship Kachi Lithium Brine Project, Argentina amid strong demand for its high purity, sustainably produced product.

The aim is to accelerate the conversion of Inferred Resources to Measured and Indicated (M&I) Resources, to allow for an expansion beyond the 25,500 tonnes per annum (tpa) lithium carbonate planned in the DFS. The current drilling seeks to convert resources to reserves as part of the DFS work.

Initially a diamond drill program of four wells from four platforms for 1,600m will be conducted, together with brine and sediment sampling and pump testing to refine the resource estimations for a conversion to reserves, with economic assumptions. Drilling will commence within approximately two weeks, following COVID-19 controls and procedures.

The Kachi Project covers 74,000 ha of leases over a salt-lake south of Livent’s lithium operation in Argentina, with a large indicated and inferred resource of 4.4 Mt LCE (Indicated 1.0Mt, Inferred 3.4Mt) (refer ASX announcement 27 November 2018). Less than 20% of the current total resource is utilised for the planned 25,500 tpa lithium carbonate production over 25 years (refer ASX announcements 23 March 2021; 30 April 2020).

Infill drilling should assist the conversion of resources to a higher category with increased data. Subsequently, a program involving the drilling of four additional production wells is also planned to support increased production.

The Company is well financed for the DFS with A$24 million available at end March, which will fund Kachi through to the construction phase in 2022 (refer ASX announcements 25 January 2021 and 30 April 2021).

Click here for the full press release.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button