The Kachi project in Tokyo, Japan has recently announced its maiden ore reserve, thus opening up a new avenue for the development of its flagship project. The new Lake Resources NL (“Lake”) project is situated on a series of volcanic fields sitting high in the rugged mountains of central Tokushima.
At the heart of the project is a series of sulfide and oxide deposits that have been identified as well as an underlying deposit of nickel and cobalt minerals, known as the ‘Ore Reserve’. This reserve is the result of extensive exploration and geophysical surveys completed over the past two years. This work has enabled Lake to increase the resource category based on mining economics.
The Ore Reserve has an estimated life of approximately seven to fifteen years. The ore is of a high grade, ranging between 6-7% nickel and cobalt. This is one of the best grades of nickel and cobalt that is commercially available globally, which makes it an attractive target for investors.
Lake has undertaken a thorough evaluation of the ore reserve to ensure that it is economically viable and able to be extracted on a commercial basis. This includes a study of the geology of the area, geological analysis of samples, geophysical surveys to gain further insight into the mineralogy, as well as a comprehensive surface sampling program.
Lake Resources NL has also obtained an Environmental Impact Report (EIR) from the local government. This is essential for the company to be able to extract the ore and to ensure that all environmental safeguards are adhered to.
As well as meeting the needs of the local government’s regulations, Lake Resources NL also has its own strict environmental policy in place. The policy covers a wide range of topics including, but not limited to, water monitoring, road safety and air quality. The company is committed to ensuring that its workforce is properly protected during operations at the mine and that the environment is not adversely impacted.
With a clear pathway for extraction and utilization of the ore reserve, Lake Resources NL is in an excellent position to move forward with the Kachi project. The flagship project has immense potential to create considerable amounts of wealth for the company, as well as providing socio-economic benefits for the local community.
