CleanTech Lithium PLC Resource Upgrade

CleanTech Lithium (AIM: CTL)

Announced an upgraded JORC resource estimate of 1.51 million tonnes of lithium carbonate equivalent at a grade of 206mg/L lithium at its Laguna Verde project, Chile, with the majority of the resource upgraded from Inferred to the higher confidence categories of Measured and Indicated. 

.

.

Cleantech Lithium

.

 

CleanTech Lithium AIM:
Stage Exploration
Metals Lithium
Market cap £31 m @ 39p
Location Chile

.

..

13/09/2022 10:49am

UK Regulatory (RNS & others)

 

From Aug 2022 to Sep 2022

Click Here for more Cleantech Lithium Charts.

.

.

 

TIDMCTL

RNS Number : 2793Z

CleanTech Lithium PLC

13 September 2022

 

Resource Upgrade at Laguna Verde Project to 1.51 Million Tonnes of Lithium

.

.

.

CleanTech Lithium PLC (AIM:CTL), an exploration and development company advancing the next generation of sustainable lithium projects in Chile, announces an upgraded JORC resource estimate of 1.51 million tonnes of lithium carbonate equivalent (“LCE”) at a grade of 206mg/L lithium at its Laguna Verde project, with the majority of the resource upgraded from Inferred to the higher confidence categories of Measured and Indicated.

The upgraded resource estimate provides the basis for undertaking a Pre-feasibility Study (“PFS”) at Laguna Verde, planned to commence 4Q 2022, as the Company continues to develop its projects towards producing carbon neutral lithium for the EV market. The PFS is expected to evaluate a base case production rate of 20,000 tonnes per annum of battery grade lithium, with the resource of 1.51 million tonnes LCE providing the basis for a >30-year operation.

.

.

Highlights:

— Resource drill programme, comprising four holes, was completed 1H 2022 with the resource upgrade based on three of the four holes sampled prior to the Chilean winter break

— JORC compliant resource estimate increased by 22% to 1.51 million tonnes LCE at a grade of 206mg/L with 53% of the resource now in the Measured and Indicated category (0.803 million tonnes LCE)

   --    On track to be further upgraded as follows:

o in Q4 2022 based on data from all four holes which is expected to increase both resource size and grade, and

o in 1H 2023 from an infill drill programme planned to commence in the next few weeks

— The deepest hole in the programme recorded lithium grades up to 409mg/L at the bottom of the hole indicating drilling to depth provides further upside

— Laguna Verde is globally the shallowest lithium resource with a geothermal heat source with brine temperatures of 20(o) C – 30(o) C starting within 65m of the surface

— This is in the optimal temperature range for the direct lithium extraction (“DLE”) adsorption process based on test-work by key technical partners SunResin and Beyond Lithium

— Heating brine can be a significant component of a DLE plant’s energy consumption and operating costs

— Feasibility studies will evaluate the impact of this geothermal influence on reducing operating costs and the environmental footprint of the project

   --    A Scoping Study for the project is expected to be completed in October/November 2022 
.

 

Aldo Boitano, Chief Executive Officer, of Cleantech Lithium PLC, said:

 

“We are very pleased with this upgrade in the Laguna Verde resource estimate to 1.51 million tonnes of LCE with more than half of the resource now in the Measured + Indicated category, providing much higher confidence in the resource potential of the asset.

 

“The resource estimate now provides the basis for a Pre-feasibility Study with a base case production rate of 20,000 tonnes LCE per annum, expected to utilise 100% renewable energy for process power providing green lithium to the EV industry. Laguna Verde is unique in being a geothermal influenced brine resource starting from near surface, which we think will positively impact operating costs and reduce the environmental footprint.

 

“Further upgrades are planned in 4Q 2022 and 1H 2023 based on fieldwork to commence in the next few weeks. We look forward to continuing to update the market on our progress.”

 

.

To read the full news release, please click HERE

 

.

=======

 

Global Mining Finance Conferences – devised and produced by industry experts are the must-attend events for miners seeking finance for projects – and for financiers seeking projects to back.

.

.

Global Mining Finance events offer:

  • Fantastic networking opportunities in a friendly and relaxed atmosphere;
  • Speaker programmes with non-duplicated presentations;
  • Expert event moderation and audience question opportunities;
  • Blue-chip keynote speakers on current topics and projects;
  • Free delegate attendance – Lunch and refreshments are included.

.

www.global-mining-finance.com

To present at one of our future events, please email andrew@global-mining-finance.com

.

.

.

.