New funds raised deliver the financial flexibility to aggressively accelerate drilling at Cauchari and continue immediately to the equally prospective Olaroz.
High fluid flows of conductive brines recently intercepted with results due next week at Cauchari Lithium Brine Project - follows results with strong lithium values of 480 mg/L.
The target in the current hole at Cauchari is a ~350-450m deep sand horizon which has recorded higher lithium values and fluid flows in the adjoining project.
Lake Resources NL (ASX: LKE) is pleased to announce that it has secured commitments for $2.4 million before costs through the placement of approximately 27 million ordinary shares at $0.09 per share in a private placement to offshore and local sophisticated and professional investors. Every two new shares have one attaching option exercisable at $0.10 cents per share expiring in July 2021.
For further information please download PDF attached:
Download this document