Lake Resources expands Kachi lithium brine project
Lake Resources NL (LKE) has acquired additional leases at its Kachi lithium brine project located in the Catamarca province of Argentina, bringing the total consolidated area to circa 52,000 hectares.
Approximately 90% of project leases are now approved for exploration. Importantly, this is the first time the area has been consolidated under one owner which will enable LKE to undertake a systematic focused approach to exploration as opposed to the disparate exploration initiatives undertaken in the past.
Sample results are expected shortly from exploration to date and these will be followed by geophysics and an initial drilling program. Imminent results which could potentially be a share price catalysts relate to near surface brine sampling of the salt lakes area of the project.
As can be seen in the following chart, LKE’s share price has responded well to its entry into the lithium space following the signing of an agreement in May 2016 facilitating the acquisition of Lith NRG.
However, it should be noted that 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.