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How is Lake Resources Progressing Towards Completing the DFS for Flagship Kachi Project by December 2023? Lake Resources N.L.

How is Lake Resources Progressing Towards Completing the DFS for Flagship Kachi Project by December 2023?

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Clean lithium developer Lake Resources NL is making significant strides towards completing the Definitive Feasibility Study (DFS) for its flagship Kachi project by December 2023. The company has recently achieved major milestones, including successful drilling, extraction, and reinjection testing, confirming the large scale and high quality of the Kachi Lithium Brine Project.

Drilling and Testing Confirm Potential of Kachi Project

Lake Resources CEO, David Dickson, shared that this year they have drilled deeper to improve grades and have seen a 40 percent increase in drilling performance. The grades from recent extraction tests have also shown a 20 percent improvement compared to exploration samples. These positive results signify promising updates in the Joint Ore Reserves Committee (JORC) prior to the submission of the DFS.

In addition to successful drilling, Lake Resources has relocated the process plant closer to the resource extraction area. The revised plant Plot Plan has been drafted for the new location, with a model review scheduled.

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Moreover, the company has demonstrated the viability of extraction and injection in its core resource area, further strengthening the potential of the Kachi project.

Environment Impact Assessment and Community Consultations

Lake Resources is actively working on an Environmental Impact Assessment to ensure the project aligns with sustainable practices and adheres to environmental regulations. A workshop with an environmental consultant has already taken place, and a second statutory community consultation is scheduled for this month. These efforts highlight the company's commitment to engaging with stakeholders and incorporating their inputs into the project development process.

Progress on Power Solution

Another critical aspect of the Kachi project is the power solution. Lake Resources is currently finalizing the design, with a revised plan that includes the capability for off-grid commissioning and start-up for train 1 of phase 1. This innovative approach allows for more flexibility and independence during the early production of Lithium Carbonate. The company is actively reviewing alternatives, including a full off-grid solution utilizing solar and battery storage. Technical reviews are currently underway to explore the feasibility and effectiveness of this option.

Lake Resources remains dedicated to completing the DFS for the Kachi project by December 2023. With the significant progress made in drilling, testing, and environmental assessments, the company is positioned for success in the clean lithium sector. Lake Resources' commitment to sustainable practices and continuous improvement ensures the development of a flagship project with long-term viability and positive environmental impacts.

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