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BGB16

38 Posts.

08/03/18

18:04

Post #: 31628248
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Originally posted by La Tache ↑

Hi Lakers - I've copied below:

the highlights from Orocobre's (ASX:ORE) announcement on 6 March. They show excellent results from ORE's/Advantage Lithium's Jujuy acreage. That acreage adjoins Lake's Jujuy acreage and the acreage of SQM/Lithium Americas which is under development;

the LKE announcement from today.

In summary:

At Kachi - LKE's additional rig has arrived! Excellent - I know things are very busy on the ground over there.

At Jujuy - when we drill we will be targetting the same aquifers as those from which Advantage Lithium/Orocobre (ASX:ORE) have just reported their excellent results.

Slide 8 of Lake's Presentation of 2 March also shows how close we are to the SQM / Lithium Americas development and confirms that we are targetting the same aquifers as them, too.
You can see the tremendous potential of Lake's Jujuy acreage.

Here are the Orocobre 6 March "Highlights:

Positive results from CAU07 four-step pumping test suggest rates as high as 36 l/s are achievable

CAU07 constant rate pumping test conducted at 17 l/s over 48 hours with flow limited by the pump capacity

Good brine chemistry with 19 samples taken over the pumping test averaging 601 mg/l Lithium and 4,853 mg/l Potassium with a Mg/Li ratio of 2.6:1

Hole CAU13 in the SE Sector of Cauchari successfully intersected a sequence of sandy sediments below 400m; adding additional brine volume in this area for the upcoming resource estimate "

Here is today's Lake announcement, parts of which I've underlined or paragraphed for emphasis:

"LAKE’S EXTRA DRILL RIG ARRIVES AT KACHI LITHIUM BRINE PROJECT
JUJUY UPDATE

The additional larger rotary drill rig will commence operations in the coming days at Lake’s 100%-owned Kachi Lithium Brine Project in Catamarca Province, Argentina.  

The extra drill rig has been contracted to accelerate the current drilling programme.  

High grade lithium brine results and flows have been announced immediately adjacent to Lake’s leases at the Cauchari Lithium Brine Project in Jujuy.

…
Lithium exploration company Lake Resources N.L. (ASX:LKE, “Lake” or “LKE”) additional larger rotary drill rig will commence operations in the coming days to accelerate the drilling of lithium brines within conductive sands at the Company’s 100%-owned Kachi Lithium Brine Project in Catamarca.  

Lake’s Managing Director, Steve Promnitz said: “We are very pleased to be accelerating our current drilling programme in Kachi with the arrival of the additional drill rig.

We have also been pleased to hear about high grade lithium brine results and good flows of brines recently reported from leases immediately adjoining Lake’s leases at the Cauchari Lithium Brine Project in Jujuy province.

The results, announced by Advantage Lithium (AAL.TSX-V) together with its partner Orocobre, are drilling lithium bearing brines on their Cauchari Project, adjacent to SQM/Lithium Americas development project.

It is Lake’s intention to target the same aquifers”.  

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good job!
LKE Price at posting: 16.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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