The Measured and Indicated (M&I) resource is increased to 2.2Mt of lithium carbonate equivalent (LCE) defined, to a depth of 400m over 81km2, and Inferred resources of 3.1Mt LCE defined over 117km

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Lake updates Kachi resource. (Credit: Lake Resources)

Australia-based clean lithium developer Lake Resources has announced an updated resource for its Kachi lithium brine project in Catamarca Province, Argentina.

The Measured and Indicated (M&I) resource is increased to 2.2Mt of lithium carbonate equivalent (LCE) defined, to a depth of 400m over 81km2.

The updated Inferred resources indicate 3.1Mt LCE defined over 117km, open to a depth of around 700m and open laterally.

Also, the increased measured resource shows a lithium grade of 212mg/L lithium, the Indicated resource of 178 mg/l lithium, and the Inferred resource shows a concentration of 198mg/L lithium.

Lake Resources chief executive officer David Dickson said: “We are pleased with the progress we are seeing at Kachi, especially regarding the recent update on the Kachi mineral resource estimate.

“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 the 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.”

The Kachi lithium brine project is located in the Puna region in Argentina, around 520km northwest of San Fernando de la Valle de Catamarca the capital of Catamarca Province.

The properties are 100% owned by the project entity Kachi Lithium, which is 90% owned by Lake, and the California-based lithium extraction company Lilac owns the remaining 10%.

Lake said that the updated resource is based on results from the drilling activities that have been carried out by the company for a year.

The company has installed multiple drilling rigs on site to support the drilling activities and related studies for the project.

It is currently in the process of installing test production wells for pumping and reinjection aquifer testing as part of the project DFS.

Lake Resources is a clean lithium developer that deploys advanced ion exchange extraction technology to produce sustainable, high-purity lithium.

In October 2022, South Korean battery manufacturer SK On signed a conditional framework agreement (CFA) to acquire a 10% stake in Lake.