CleanTech Lithium PLC (AIM: CTL)
An exploration and development company, advancing the next generation of sustainable lithium projects in Chile, announces it has applied for 119 new exploration licences, covering a total area of over 600km², which constitute the Llamara Project.
|Market cap||£17 m @ 22.5p|
RNS Number : 3775Q
CleanTech Lithium PLC
28 June 2022
To view the announcement with pictures of Llamara Project location and the Historical
Geophysics Lines Intersecting Licence Applications please click here
Prospective Greenfield Lithium Project in Northern Chile
CleanTech Lithium PLC (AIM: CTL), an exploration and development company, advancing the
next generation of sustainable lithium projects in Chile, announces it has applied for 119 new
exploration licences, covering a total area of over 600km², which constitute the Llamara Project.
· The Llamara Project is located within the highly prospective Lithium Triangle in Chile,
600km north of the Company ́s two flagship projects, Laguna Verde and Francisco Basin
· The projects relatively low altitude of 1,100m allows for year-round exploration which can
continue during the winter break in site operations at Laguna Verde and Francisco Basin
· The licence area covers >600km2 within a large basin
· Historical geophysics lines by an oil exploration company indicate an extensive deep brine
aquifer in the project area with an aquifer thickness of several hundred meters
· The aquifer has not been drilled or measured for lithium, however highly elevated lithium
concentrations have been recorded in surface salt crusts and clay deposits, indicating a
lithium source within the basin
· The licences, which cover a 4-year exploration period, require minimal financial and work
commitments over the next 18 month with application costs of less than US$100,000
· This is a greenfield project that compliments existing projects and offers additional
exploration potential – if a lithium resource is established, the project would leverage the
Company ́s proprietary DLE process
· An initial work programme will involve geophysics to determine drilling targets, which will
be tested initially by the drilling of a low-cost exploration drill hole.
CleanTech Lithium management comments
“These licences add longer-term exploration potential to the near-term lithium production and
cashflow potential of our existing flagship projects – Laguna Verde and Francisco Basin.
“We have been looking at these licences for some time and believe they help further our foothold in the
prospective lithium triangle of northern Chile. With low upfront costs and minimal near and
medium-term commitments there is a strong case for adding this project to the existing portfolio,
the development of which remains the Company’s absolute focus.”
Aldo Boitano, Chief Executive Officer, CleanTech Lithium PLC
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