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Catamarca Pegmatite Project

The Catamarca Pegmatite project (~72,000 Ha) is located in Ancasti, Catamarca Province, approximately 50km east of the city of Catamarca, with good all-year road access at altitudes of 300-800m.

The area is known historically for small scale production from an area of lithium bearing spodumene pegmatites in the Ancasti Ranges. A technical review considered that the belt of pegmatites was substantially larger than the previously known areas. Literature reviews, satellite image studies and field visits helped identify a series of pegmatite swarms with lithium bearing potential over a belt of approximately 150km.

Eight cateos were applied for with a number now granted and others pending granting. A number of smaller mining leases are also under application. Initial field visits by Lake personnel have demonstrated outcropping pegmatites with coarse grained spodumene crystals 30-70cm long in a number of locations. Although data is limited, an option agreement was considered a prudent way to further assess the potential.

Latin Resources (ASX:LRS) who hold adjoining leases in the same belt, announced on 14 June 2016 results of 4.9% LiO2 to 7.1% LiO2 from samples of spodumene from old mine workings, as part of exploration applications over approximately 76,000 Ha. These exploration areas have been since granted and approved for drilling activities.

Highly attractive option terms over Catamarca Pegmatite Project Leaseholdings

Lake has signed an option agreement with Petra Energy S.A. (in formation) under the following terms:

  • 4 million LKE shares for a 4 month option period, with 1 million shares on signing and 3 million shares within 60 days, extendable to 6 months with a payment of a further 1 million LKE shares. (50% voluntarily escrowed for 6 months). Due diligence and initial exploration to be undertaken at LKE cost.
  • 15 million LKE shares on execution of the option, paid in two tranches, with 7.5 million shares upon execution and 7.5 million shares once 65% of the areas are granted for exploration (which may be simultaneously). (50% voluntarily escrowed for 6 months)
Catamarca Pegmatites Project





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