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  • Lake Resources has revealed positive detailed packer sampling results from its Cauchari Lithium Brine Project in Argentina
  • The Cauchari project is in a string of world-class lithium projects across Argentina, Chile, and Bolivia, dubbed the “Lithium Triangle”
  • Sampling returned higher results of 340 metres averaging 505 milligrams per littler lithium, with a lithium/magnesium ratio of 2.9
  • Lake Resources says its next step is to fast-track the drill rig to its Olaroz project

Lake Resources has updated shareholders with positive updated packer sampling results from its Cauchari Lithium Brine Project in Argentina.

The Cauchari project is located in the heart of a string of world-class lithium projects across Argentina, Chile, and Bolivia, dubbed the “Lithium Triangle”.

The detailed packer sampling returned higher results of 340 metres averaging 505 milligrams per littler lithium, with a lithium/magnesium ratio of 2.9. These results compare favourably to a world-class neighbouring project moving to production next year, according to Lake Resources.

The company said these results reaffirm its confidence in the potential of the Cauchari Project. Lake Resources is also waiting for results from a recently-extended zone in the project area.

Following this discovery, the company says its next step is to fast-track the drill rig to its Olaroz project. Lake Resources aims to repeat the discovery success here alongside current production over its 14,000 hectares of wholly owned leases.

Lake Resources Managing Director Steve Promnitz said the grades at Cauchari mirror those of the largest defined lithium brine resource on the planet, which lies next door to Cauchari.

“These latest results have only further strengthened our recognition of the Cauchari project as a major discovery adding value for shareholders, given the prices paid for investment in nearby projects,” Steve said.

Steve said an analysts are regularly upgrading forecasts for the lithium market, and described Cauchari as a potential “company-maker” for Lake Resources.

In fact, major Chinese producer Ganfeng Lithium has invested almost US$400 million to earn a 50 per cent stake in the Cauchari project. Lake Resources says this further confirms the value of the project and the output potential of projects in the Lithium Triangle.

Lake Resources shares peaked at 6.9 cents each this afternoon, and now trade for 6.6 cents a piece in a $31.56 million market cap as at 2:28pm AEST.

LKE by the numbers
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