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Kachi lithium brine project, Argentina – update

Drill rigs at the Kachi lithium brine project

Photo by Lake Resources

1st December 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Kachi lithium brine project.

Location
Catamarca, Argentina.

Project Owner/s
Lithium developer Lake Resources.

Project Description
Kachi has the potential to deliver high-purity product – based on a sustainable and scalable process – required by battery makers.

The project envisages the construction of two plants with a capacity of 25 000 t/y using direct lithium extraction technology based on ion exchange.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $1.05-billion and an internal rate of return of 25%, with a payback from first product delivery of five years.

Capital Expenditure
The project entails an investment of $544-million.

Planned Start/End Date
Production is targeted for 2027.

Latest Developments
Lake Resources has announced a substantial increase in the resource estimate.

Measured and indicated resources have increased from 2.9-million tonnes to 7.3-million tonnes of lithium-carbonate equivalent defined to a depth of 600 m over 143.8 km2.

The updated total resource estimate exceeds 10.6-million tonnes of lithium-carbonate equivalent.

The resource update will be used in the hydrogeologic model for the forthcoming maiden reserve estimate and will be the basis for the project’s Phase 1 definitive feasibility study (DFS), expected in December 2023.

The update incorporates the vertically expansive lithium intersects of the past six months and includes exceptional lithology and lithium concentrations intersected at the project’s K24D41 deposit.

The footprint of the lithium brine extent has been expanding significantly to the north, south and, most importantly, vertically.

The consistency of the lithium concentration and brine chemistry in the new step-out holes demonstrates how well the brine has circulated and mixed within the basin.

“Our improved hydrogeologic understanding of the system will [enable] . . . us to develop an optimal extraction and recovery strategy to allow for the responsible development of clean lithium in the basin while minimizing the consumption of water and related hydrologic impacts,” geology and hydrogeology director Michael Gabora has said.

Key Contracts, Suppliers and Consultants
Lilac Solutions (lithium extraction testwork); Hatch (engineering and design services); and Citi and JP Morgan (finance coordinators of the project).

Contact Details for Project Information
Lake Wells, tel +61 2 9299 9690 or email hello@lakeresources.com.au.

Edited by Creamer Media Reporter

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