Lake Resources NL (“Lake”) is pleased to announce the maiden Ore Reserve has been defined at the flagship Kachi Lithium Brine Project in Catamarca, Argentina (“Kachi”).
The Ore Reserve estimate combined with the Inferred Resource previously announced brings the total indicated and inferred resource to 156,000 tonnes of lithium carbonate equivalent (“LCE”).
The Ore Reserve confirms a 305,000 tonne contained LCE metal production of 148,500 tonnes of lithium carbonate equivalent (“LCE”) over the life of mine ,which is expected to last around 10 years. Based on the current resource and reserve profile, the Kachi Project could become one of the highest grade lithium projects globally.
The Ore Reserve estimate was completed in accordance with JORC 2012 and the results are presented in the Table below.
Table 1. Kachi Project Ore Reserve Estimate
Resources Tonnes Grade (ppm) LCE (t)
Proved 47,365,000 339 81,100
Probable 43,430,000 366 87,400
Total 90,795,000 353 148,500
The DFS with respect to the project is currently underway and expected to be completed in the fourth quarter of 2020. The next steps will be the completion of Offtake and Financing agreements for the project.
Subsequent independent studies will further determine the project economics and timing for construction.
The Recovery Rates (not included in the Ore Reserve) are anticipated to be in excess of Potassium Chloride (KCl) recovery of 91%-93%; Sulphate recovery of 94%-98%; and Magnesium Sulphate (MgSO4) recovery of 97%-99%.
This maiden Ore Reserve is a major milestone and significant step forward for Lake and the Kachi Project. The Ore Reserve demonstrates robust economics and reflects a successful exploration campaign.
Paul Larkin, Managing Director said, “We are extremely pleased for the company to have achieved this milestone and are now making the step to project operator and developer. We will soon transition into the construction phase and consider our plans for the commissioning of Kachi as a new major contributor to the global Lithium industry.”
Lake Resources NL (“Lake”) is pleased to announce the maiden Ore Reserve has been defined at the flagship Kachi Lithium Brine Project in Catamarca, Argentina (“Kachi”).
The Ore Reserve estimate combined with the Inferred Resource previously announced brings the total indicated and inferred resource to 156,000 tonnes of lithium carbonate equivalent (“LCE”).
The Ore Reserve confirms a 305,000 tonne contained LCE metal production of 148,500 tonnes of lithium carbonate equivalent (“LCE”) over the life of mine ,which is expected to last around 10 years. Based on the current resource and reserve profile, the Kachi Project could become one of the highest grade lithium projects globally.
The Ore Reserve estimate was completed in accordance with JORC 2012 and the results are presented in the Table below.
Table 1. Kachi Project Ore Reserve Estimate
Resources Tonnes Grade (ppm) LCE (t)
Proved 47,365,000 339 81,100
Probable 43,430,000 366 87,400
Total 90,795,000 353 148,500
The DFS with respect to the project is currently underway and expected to be completed in the fourth quarter of 2020. The next steps will be the completion of Offtake and Financing agreements for the project.
Subsequent independent studies will further determine the project economics and timing for construction.
The Recovery Rates (not included in the Ore Reserve) are anticipated to be in excess of Potassium Chloride (KCl) recovery of 91%-93%; Sulphate recovery of 94%-98%; and Magnesium Sulphate (MgSO4) recovery of 97%-99%.
This maiden Ore Reserve is a major milestone and significant step forward for Lake and the Kachi Project. The Ore Reserve demonstrates robust economics and reflects a successful exploration campaign.
Paul Larkin, Managing Director said, “We are extremely pleased for the company to have achieved this milestone and are now making the step to project operator and developer. We will soon transition into the construction phase and consider our plans for the commissioning of Kachi as a new major contributor to the global Lithium industry.”
