Lake Resources (ASX:LKE) - Managing Director, Steve Promnitz
Managing Director, Steve Promnitz
Source: Lake Resources
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  • Lithium developer Lake Resources (LKE) claims current drilling at its Kachi Lithium project indicates lithium brines extends beyond the limits of the current resource
  • LKE says should similar results continue, it will support a doubling of future planned production targeting 50,000 tonnes of lithium carbonate equivalent per annum
  • New infill drilling will reportedly enable Lake to convert inferred resources into measured and indicated resources to allow for a production expansion study
  • The company says a more detailed announcement with results and the planned drill program will be released early in the new year
  • Shares have been up 1.2 per cent trading at 84.5 cents

Lithium developer Lake Resources (LKE) has claimed current drilling at its Kachi Lithium project indicates lithium brines extends beyond the limits of the current resource.

The company says continued similar results would support a doubling of future planned
production targeting 50 thousand tonnes of lithium carbonate equivalent per annum.

The company said the drilling footprint will be expanded next year, with additional rotary drill rigs, intended to upgrade and expand the resource. Additionally the company plans to support the completion of a definitive feasibility study and the final investment decision on the Kachi project.

New infill drilling reportedly enables Lake to convert inferred resources into measured and indicated resources to allow for a production expansion study.

A 1200-metre four well diamond drill programme is underway and the program may be extended with initial results pending.

The company said a more detailed announcement with results and the planned drill program will be released early next year.

Shares were up 1.2 per cent trading at 84.5 cents at 2:15 pm AEDT.

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