Impact: Slightly Positive
Lake Resources (LKE) announced it is planning a 10-hole drilling program at its 100%-owned Olaroz, Cauchari and Paso Li brine projects in Jujuy, Argentina. The program is currently scheduled for late January 2022. A second drill rig will be used to work alongside the diamond rig to help quantify brines, develop the aquifers and conduct pump tests – many of the items that are required to define a resource estimate and quantify flow rates. We note that passive seismic geophysics are also underway to help define basin boundaries, while detailed EM surveys have the potential to locate brine targets. Furthermore, lithium brines are to be sampled and tested with direct lithium extraction methods, similar to that used at Kachi (read more). We look forward to the potential for positive drill results from these projects. Meanwhile, we believe the market will continue to focus on the development and project financing for Kachi.
