Shares of Lake Resources (ASX:LKE) scaled up to a peak gain of 23.8% at A$0.260, marking the highest level since July 24.

This stock leap made it the biggest gainer in the ASX All Ordinaries index.

Over 19.5 million shares were exchanged, which significantly surpassed the 30-day average of 10.3 million shares.

The company announced the completion of an intermediate milestone to conduct a definitive feasibility study at its main Kachi lithium project in Argentina.

The company also revealed that pumping tests have confirmed favourable hydrogeologic conditions for brine extraction.

Despite this success, Lake Resources saw a 73.8% fall this year up to the last close, compared with a 3.8% increase in the ASX All Ordinaries index.

Lake Resources is an Australian lithium miner focused on projects in Argentina.