Sydney, Australia -
Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to announce an operational update on its Kachi brine project ("Kachi") in Argentina, which is utilising DLE technology to produce cleaner battery-grade lithium carbonate.
- Phased approach of 2 x 25Ktpa plants de-risks project execution and accelerates time to first lithium production with clear milestones.
- Confirmed ~37% increase in Measured higher grade resource, supporting 25+ years of supply life. Potential Kachi resource expansion to 8.1 million tonnes LCE supports further expansion opportunities.
- Adjusted timing on DFS, consistent with increasing resource base and outcome of project reassessment, to allow for greater project definition, optimal power solution and infrastructure considerations.
- Proven extraction and reinjection without significant disruption to water tables.
- Strong technical and leadership expertise delivering high quality project pathway
"The plans announced today to the ASX show a clear path to battery grade lithium carbonate production in 2027 and phased expansion to a target of 50ktpa by 2030," Lake CEO David Dickson said.
"Our new, phased approach de-risks project execution while ensuring battery grade lithium carbonate comes to market in a cleaner, efficient way.
"Over the past nine months, we have applied our extensive expertise in drilling, hydrogeology, and construction of large, specialty chemical projects to comprehensively reassess this project and better position us for success. Our findings regarding infrastructure, power, logistics requirements, and our reservoirs resulted in this path to production which will unlock value and maximise execution efficiency. This approach also provides expansion optionality to 50Ktpa, and potentially more."
"Our proven process flow incorporates both the "mine and refine" stages of producing battery-grade lithium carbonate, ensuring product consistency and designed to mitigate environmental impact," Dickson said.
Independent testing of lithium carbonate produced from the Kachi Project in Argentina has confirmed grades and purity greater than 99.8 percent.
"We have validated the major commercial process systems for the Kachi Project and the ability to produce high-quality, battery-grade lithium carbonate from Lake's brine resource using Lilac DLE technology."
Mr Dickson said phased production delivers these benefits:
1. Takes full advantage of potential resource upside.
2. "Design one, build many" approach creates productivity improvements from lessons learned.
3. More flexible power solution and reduced reliance on grid connection for plant startup.
4. Provides optionality on plant size and product type, allowing it to adapt to prevailing market conditions;
5. Allows for management of potential reservoir impacts;
6. Reduces peak labor requirements during construction and makes operations more resilient.
"We have consulted with our project stakeholders including our debt providers and offtake partners, and they are supportive of the phased plan," Mr Dickson said.
Lake is targeting completion of the DFS by December 2023.
To view the Investor Presentation Update, please visit:
https://www.abnnewswire.net/lnk/A3N468IX
About Lake Resources NL:
Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.
This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.
Source:
Lake Resources NL
Contact:
Nigel Kassulke at Teneo M: +61-407-904-874 E: Nigel.Kassulke@teneo.com Global: Karen Greene SVP, Investor Relations karen.greene@lakeresources.com.au Australia: Anthony Fensom Republic PR +61 (0) 407 112 623 anthony@republicpr.com.au
