The up to date useful resource estimate is predicated on continued hydrogeological characterization for the reason that final replace in June 2023 and refined interpretations of the hydrostratigraphy, hydrogeology and hydrogeochemistry.
– Deeper drilling to 600 m bgs has led to considerably bigger useful resource estimates.
– Measured and Indicated Assets have elevated from 2.9 to 7.3 Mt of lithium carbonate equal outlined to a depth of 600 meters over 143.8 sq. kilometres.
– The up to date complete useful resource estimate exceeds 10.6 Mt of lithium carbonate equal.
– Earlier testing confirmed extremely beneficial subsurface circumstances for each lithium extraction and injection within the central useful resource space the place the measured and indicated assets are positioned.
– Surrounding the Measured and Indicated Assets are Inferred Assets of three.3 Mt lithium carbonate equal outlined over 130.9 km2.
– K24D41 within the southern sector intersected among the highest lithium concentrations drilled up to now on the challenge, returning grades of 180-348 mg/L lithium over 445 metres (166 – 610 metres) with a median of 267 mg/L.
– Deeper drilling at K23D40 within the northern sector intersected coarse-grained alluvial fan supplies and averaged 228 mg/L over 322 meters with a most of 254 mg/L. This gap is 3.5 km northwest of K22R39.
This useful resource replace defines the Mineral Assets for use within the hydrogeologic mannequin for the forthcoming maiden reserve estimate and would be the foundation for the Challenge Part 1 Definitive Feasibility Research (DFS) anticipated in December 2023.
“Our expansive hydrogeological characterization program over the past 12 months and half has led to important enhancements in our understanding 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 incorporates the vertically expansive lithium intersects of the final six months and consists of distinctive lithology and lithium concentrations intersected at K24D41.
The footprint of the lithium brine extent has been rising dramatically to the north, south and most essential vertically.
The consistency of the lithium focus and brine chemistry within the new step out holes demonstrates how nicely the brine has circulated and blended throughout the basin.
The brand new outcomes construct on the robust observe file of continued useful resource progress for the reason that maiden useful resource estimate first introduced in November 2018.
“Our improved hydrogeologic understanding of the system will enable us to develop an optimum extraction and restoration technique to permit for accountable improvement of fresh lithium within the basin whereas minimizing the consumption of water and associated hydrologic impacts,” Mr. Gabora mentioned.
In Lake’s useful resource replace on June 15, 2023, the Firm reported that future drilling was concentrating on extra step out holes and exploring the deeper useful resource past 400 metres under floor floor, the earlier most depth drilled at website. A subsequent replace on August 22, 2023 offered highlights from drillhole K23D40, the primary gap on the Challenge drilled past 430 metres under floor floor, to a complete depth 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 gap 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 median of 267 mg/L.
Further floor geophysical surveys have been extremely complementary to the step-out and deeper drillholes.
Latest supplemental passive seismic surveys have, together with earlier passive seismic surveys, outlined the thickness of unconsolidated sediments internet hosting the brine.
Drilling intercepts of the highest of the basement rock (bedrock) floor at two places has additional improved the boldness within the reliability of the passive seismic knowledge.
Transient electromagnetic (TEM) surveys have been just lately accomplished throughout the salar and surrounding space, which confirmed the brine physique is way bigger than preliminary estimates and continues nicely past the presently outlined useful resource. Step-out drilling and historic drilling and testing outcomes point out that the TEM surveys are dependable indicators of the presence of lithium bearing brines within the basin.
The Kachi Challenge has proven continuous will increase in mineral useful resource estimates (Determine 1*) for the reason that maiden useful resource estimate of 4.4 Mt of contained lithium carbonate equal in Inferred and Indicated classes was introduced in November 2018:
– The useful resource was considerably upgraded in January 2023 with a Measured and Indicated Useful resource of two.2 Mt of lithium carbonate equal and roughly 3.1 Mt of lithium carbonate equal as Inferred mineral assets.
– The entire useful resource was once more elevated in June 2023 with greater than 2.9 Mt of lithium carbonate equal in Measured and Indicated and roughly 5.2 Mt of lithium carbonate equal within the Inferred class for a complete useful resource estimate of greater than 8.1 Mt of lithium carbonate equal.
– The entire useful resource enhance documented on this replace is 7.3 Mt lithium carbonate equal Measured and Indicated Useful resource with 3.3 Mt lithium carbonate equal of Inferred Useful resource for a complete useful resource estimate of over 10.6 Mt lithium carbonate equal (Determine 1 and Desk 1*). Determine 2 and Determine 3* current useful resource areas.
– Pumping and Injection testing detailed in August 2023 demonstrated that the lithium reservoir within the useful resource space is permeable and that productive wells could be drilled and constructed for extraction and injection.
*To view tables and figures, please go to:
https://abnnewswire.web/lnk/JI8DI2CS
About Lake Assets NL:
Lake Assets NL (ASX:LKE) (OTCMKTS:LLKKF) is a clear lithium developer utilising state-of-the-art ion change extraction expertise for manufacturing of sustainable, excessive purity lithium from its flagship Kachi Challenge in Catamarca Province throughout the Lithium Triangle in Argentina amongst three different initiatives overlaying 220,000 ha.
This ion change extraction expertise delivers an answer for 2 rising calls for – excessive purity battery supplies to keep away from efficiency points, and extra sustainable, responsibly sourced supplies with low carbon footprint and important ESG advantages.
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