Lake Resources NL (ASX:LKE, OTCQB:LLKKF) has made structural changes to its operations team, including the addition of critical expertise, to pursue opportunities for its lithium brine projects within Argentina’s Lithium Triangle, while it advances the flagship Project Kachi in the region.
The clean lithium developer made the changes to better align with the technical needs of Kachi after doubling the measured and indicated categories of the asset to 2.2 million tonnes of lithium carbonate equivalent and increasing the inferred portion of the resource to 3.1 million tonnes.
These changes include the division of the role of operational oversight into two main areas of responsibility: Process Plant Development and Operations; and Field Development and Evaluation.
Meanwhile, chief operating officer Gautam Parimoo has left the company.
Kachi update
With a new team in place and a resource upgrade, Lake is evaluating the Project Kachi timelines and estimated capital costs, which it expects to complete in the second quarter.
Earlier this week, the company said its direct lithium extraction technology partner Lilac Solutions had achieved a number of critical milestones, including operating the Demonstration Plant continuously for more than 1,000 hours to date as required in the agreement between the two companies.
Lake is also continuing to advance its definitive feasibility study (DFS), completing the evaluation of the processing plant and moving into the next phase of the project study.
The DFS is expected to be completed in the middle of this year.
Pleased with progress
“We are pleased with the progress we are seeing at Kachi, especially regarding the recent update on the Kachi mineral resource estimate, and the good progress by our partner Lilac in developing and operating the demonstration plant,” Lake’s chief executive officer David Dickson said.
“With the ongoing recruitment of talented experts, the realignment and new focus of the organisation, and the enrichment of our board, we are well-positioned to complete the development of Kachi, while pursuing development of Cauchari, Olaroz and Paso.
“We look forward to producing high-quality, sustainable lithium for our customers and delivering value to all of our stakeholders.”
About Lake
Lake is using state-of-the-art ion exchange extraction technology to produce 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 hectares.
Lake’s other projects include the Olaroz and Cauchari brine projects, adjacent to major world-class brine projects in production or construction, including Allkem’s Olaroz lithium production and adjoining the impending production of Ganfeng Lithium/Lithium Americas’ Cauchari project.
Lake's Cauchari project has shown lithium brines over a 506 metres interval with high grades averaging 493 mg/L lithium at 117-460 metres, with up to 540 mg/L lithium.
These results are similar to lithium brines in adjoining leases and infer an extension and continuity of these brines into Lake’s leases.