Early sampling results from Lake Resource’s Kachi lithium project

By Trevor Hoey. Published at Apr 3, 2017, in Mining

Shares in Lake Resources (ASX: LKE) surged 12% in the first hour of trading following the release of positive results from its Kachi lithium brine project located in the Catamarca province of Argentina.

It should be noted share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.

Management noted that elevated lithium results of over 200 mg/L lithium have been recorded from near surface auger brine sampling.

Of significance is the fact that central parts of the salt lakes where better results are traditionally achieved have not been sampled due to unseasonal rainfall.

These encouraging results come at an opportune time for the group as it moves towards a maiden drilling program at the 52,000 hectare project.

Providing further colour is the fact that the results appear better than those achieved at high profile adjoining projects.

The Kachi project is located approximately 100 kilometres south of FMC’s Hombre Muerto lithium brine production operation and Galaxy’s Sal de Vida project.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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