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Lake Resources (ASX:LKE) - Managing Director, Steve Promnitz
Managing Director, Steve Promnitz
Source: InvestorStream
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  • Lake Resources (LKE) increases drill testing at the Kachi Lithium Project in Argentina, to support the expansion of future production
  • LKE is advancing its four well drill program with brine sampling and pump testing
  • Managing Director Steve Promnitz says the drilling program will support an expansion study to double production to 50,000 tonnes per annum
  • The move follows increased investment in Argentinian lithium projects, with the government flagging plans to incentivise further production of lithium
  • Shares are trading 4.05 per cent higher at 38.5 cents at 10:23am AEST

Lake Resources (LKE) is planning to increase drill testing at the Kachi Lithium Project in Argentina, to support the expansion of future production.

The move follows increased investment in Argentinian lithium projects, with the government flagging plans to incentivise further production of lithium.

Subsequently, LKE is advancing its four well drill program with brine sampling and pump testing.

The program aims to upgrade Kachi’s 4.4 megatonnes lithium carbonate equivalent (LCE) total resource from measured and indicated resources, to reserves for a definitive feasibility study.

Further, infill drilling has been designed to assist the conversion of resources to a higher category with increased data.

LKE notes that less than 20 per cent of the current total resource is utilised for the planned 25,500 tonnes per annum LCE production over 25 years.

Managing Director Steve Promnitz said the drilling program will support an expansion study to double production to 50,000 tonnes per annum.

“This would make Kachi a globally significant producer and one of a few that can bring high purity lithium carbonate to market consistently with a low carbon footprint, perfect for the needs of leading electronic vehicle makers.”

Additionally, Steve Promnitz believes that with Argentina becoming the key focus for lithium investment, the company’s projects are perfectly positioned to benefit amid accelerating demand for battery quality lithium.

Shares were trading 4.05 per cent higher at 38.5 cents at 10:23am AEST.

LKE by the numbers
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