Dr. James Tansey to Ship Keynote at the Evolution of the Carbon Markets on the Armchair Dealer Investor Match in London, UK

Sydney, Australia (ABN Newswire) – Blank lithium developer Lake Assets NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is happy to supply an up to date useful resource estimate for the Kachi lithium brine Mission (“Kachi” or the “Mission”) in Catamarca Province, Argentina.

The up to date useful resource estimate is in response to persisted hydrogeological characterization because the final replace in June 2023 and delicate interpretations of the hydrostratigraphy, hydrogeology and hydrogeochemistry.

– Deeper drilling to 600 m bgs has led to noticeably greater useful resource estimates.

– Measured and Indicated Assets have greater from 2.9 to 7.3 Mt of lithium carbonate similar outlined to a intensity of 600 meters over 143.8 sq. kilometres.

– The up to date overall useful resource estimate exceeds 10.6 Mt of lithium carbonate similar.

– Earlier checking out showed extremely beneficial subsurface stipulations for each lithium extraction and injection within the central useful resource space the place the measured and indicated sources are situated.

– Surrounding the Measured and Indicated Assets are Inferred Assets of three.3 Mt lithium carbonate similar outlined over 130.9 km2.

– K24D41 within the southern sector intersected one of the vital absolute best lithium concentrations drilled so far on the mission, returning grades of 180-348 mg/L lithium over 445 metres (166 – 610 metres) with a mean of 267 mg/L.

– Deeper drilling at K23D40 within the northern sector intersected coarse-grained alluvial fan fabrics and averaged 228 mg/L over 322 meters with a most of 254 mg/L. This hollow is 3.5 km northwest of K22R39.

This useful resource replace defines the Mineral Assets for use within the hydrogeologic type for the approaching maiden reserve estimate and would be the foundation for the Mission Section 1 Definitive Feasibility Find out about (DFS) anticipated in December 2023.

“Our expansive hydrogeological characterization program over the past yr and part has ended in important enhancements in our working out of the geology, hydrogeology and geochemistry of the Carachi Pampa Basin,” mentioned Mr. Michael Gabora, Director of Geology and Hydrogeology of Lake Assets.

The useful resource replace contains the vertically expansive lithium intersects of the final six months and contains outstanding lithology and lithium concentrations intersected at K24D41.

The footprint of the lithium brine extent has been rising dramatically to the north, south and maximum necessary vertically.

The consistency of the lithium focus and brine chemistry within the new step out holes demonstrates how neatly the brine has circulated and combined inside the basin.

The brand new effects construct at the sturdy observe report of persisted useful resource enlargement because the maiden useful resource estimate first introduced in November 2018.

“Our stepped forward hydrogeologic working out of the machine will let us increase an optimum extraction and restoration method to permit for accountable construction of fresh lithium within the basin whilst minimizing the intake of water and similar hydrologic affects,” Mr. Gabora mentioned.

In Lake’s useful resource replace on June 15, 2023, the Corporate reported that long term drilling used to be focused on further step out holes and exploring the deeper useful resource past 400 metres under floor floor, the former most intensity drilled at website. A next replace on August 22, 2023 equipped highlights from drillhole K23D40, the primary hollow on the Mission drilled past 430 metres under floor floor, to a complete intensity of 610 metres under floor floor, which measured lithium brines over 322 m, returning grades of 209-254 mg/L.

Borehole K24D41 is the second one hollow that demonstrates lithium brine to depths of over 600 m. K24D41 has grades of 180-348 mg/L lithium over 445 metres (166 – 610 metres), with a mean of 267 mg/L.

Further floor geophysical surveys had been extremely complementary to the step-out and deeper drillholes.

Fresh supplemental passive seismic surveys have, together with earlier passive seismic surveys, outlined the thickness of unconsolidated sediments webhosting the brine.

Drilling intercepts of the highest of the basement rock (bedrock) floor at two places has additional stepped forward the arrogance within the reliability of the passive seismic knowledge.

Brief electromagnetic (TEM) surveys have been not too long ago finished around the salar and surrounding space, which confirmed the brine frame is way greater than preliminary estimates and continues well past the these days outlined useful resource. Step-out drilling and ancient drilling and checking out effects point out that the TEM surveys are dependable signs of the presence of lithium bearing brines within the basin.

The Kachi Mission has proven power will increase in mineral useful resource estimates (Determine 1*) because the maiden useful resource estimate of four.4 Mt of contained lithium carbonate similar in Inferred and Indicated classes used to be introduced in November 2018:

– The useful resource used to be considerably upgraded in January 2023 with a Measured and Indicated Useful resource of two.2 Mt of lithium carbonate similar and roughly 3.1 Mt of lithium carbonate similar as Inferred mineral sources.

– The whole useful resource used to be once more greater in June 2023 with greater than 2.9 Mt of lithium carbonate similar in Measured and Indicated and roughly 5.2 Mt of lithium carbonate similar within the Inferred class for a complete useful resource estimate of greater than 8.1 Mt of lithium carbonate similar.

– The whole useful resource building up documented on this replace is 7.3 Mt lithium carbonate similar Measured and Indicated Useful resource with 3.3 Mt lithium carbonate similar of Inferred Useful resource for a complete useful resource estimate of over 10.6 Mt lithium carbonate similar (Determine 1 and Desk 1*). Determine 2 and Determine 3* provide useful resource spaces.

– Pumping and Injection checking out detailed in August 2023 demonstrated that the lithium reservoir within the useful resource space is permeable and that productive wells can also be drilled and built for extraction and injection.

*To view tables and figures, please talk over with:

About Lake Assets NL:

Lake Assets NL (ASX:LKE) (OTCMKTS:LLKKF) is a blank lithium developer utilising cutting-edge ion change extraction era for manufacturing of sustainable, top purity lithium from its flagship Kachi Mission in Catamarca Province inside the Lithium Triangle in Argentina amongst 3 different tasks protecting 220,000 ha.

This ion change extraction era delivers an answer for 2 emerging calls for – top purity battery fabrics to keep away from efficiency problems, and extra sustainable, responsibly sourced fabrics with low carbon footprint and demanding ESG advantages.

Lake Assets NL


Risk Warning: 74-89% of retail investor accounts lose money when trading CFDs . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money