Lake Resources (ASX:LKE) has expanded its operating team and made progress towards key operational milestones to better position the company for success as it moves into the development stage of the Kachi project.
The mineral resource estimate of Kachi doubled to 2.2 million tonnes of Lithium Carbonate Equivalent with 3.1 million tonnes of Inferred resources.
The company is now doing a rigorous evaluation of project timelines and estimated capital costs, and is targeting to complete the Definitive Feasibility Study by mid-2023.
Lake is also utilising an efficient, disruptive, clean ion exchange extraction technology for production of sustainable, high purity lithium from its Kachi Project, with a pilot plant module in California operating on Kachi brines and producing 99.97% purity lithium carbonate samples.
Long duration, low-cost project debt finance for the Kachi Lithium Project is indicatively available from the United Kingdom’s Export Credit Agency and Canada’s EDC.