Lake Resources Encouraged By Positive Drill Results at Cauchari Project

Lake Resources NL (ASX:LKE) Managing Director Steve Promnitz recently joined the Finance News Network to discuss the company’s positive drill results at its Cauchari lithium brine project in Argentina. In the interview, Promnitz discussed the company’s strategy behind targetting the Cauchari brine project, which is adjacent to projects owned by major companies like Orocobre and Ganfeng.

“The market has been waiting quite some time for this news. We are drilling in the same basin as the largest defined lithium brine project on the planet, which is what Gangfeng recently paid nearly US$400 million to buy a half of. We’re 500 meters away,” said Promnitz.

The drill results at Lake Resources’ Cauchari project returned values up to 538 mg/L from high flow brines at 261 meters deep with low Mg/Li ratios. Based on these results, Lake Resources feel it has confirmed the continuity in the same basin that has already been host to world-class major projects.

To watch the full interview, click here.

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