Lake Resources (ASX:LKE) has submitted a production Environmental Impact Assessment (EIA) for its flagship Kachi Project to the Catamarca Ministry of Mining in Argentina.
The ‘innovative and sustainable’ development plan will result in a small water footprint, which Lake says is among the lowest for lithium brine projects per tonne.
Lake Resources, which has a market capitalisation of $108.1 million, says the development plan for Kachi is designed to minimise the consumption of fresh water and maintains the hydrogeologic system as close to baseline conditions as possible.
CEO David Dickson says: “The timely submission of the EIA underscores Lake’s firm commitment to conducting operations in a manner that prioritises care for the environment and fosters collaboration with our neighbouring communities.
“Kachi stands as a testament to our adoption of a prudent and groundbreaking approach to lithium brine extraction, aiming for the advancement of sustainable and responsible lithium production. We look forward to bringing future employment and economic growth to Catamarca Province, while contributing to the global energy transition.”
The EIA is based on the production scenario presented in the Definitive Feasibility Study (DFS), in which lithium brine is extracted via production wells, pumped to the Direct Lithium Extraction (DLE) plant for lithium recovery, and then injected back into the subsurface via injection wells.
Lake Resources is a lithium developer focused on using ion exchange extraction technology for production of sustainable, high-purity lithium from its flagship Kachi Project. The company also has 3 other early-stage projects in the lithium triangle in Argentina.
As of 31 December 2023, the company had $31.3 million in cash and cash equivalents at hand, according to its latest quarterly report. Post-quarter-end, Lake conducted a placement to raise up to $15 million, alongside a share purchase plan to raise a further $5 million.
Write to Aaliyah Rogan at Mining.com.au
Images: Lake Resources
