clean tech lithium (AIM: CTL)an exploration and development company driving next-generation sustainable lithium projects in Chile, has announced the acquisition of all exploration licenses for future greenfield projects totaling over 344 km.2 Our application (“Llamara Project”) in Q2 2022 has been approved by the Chilean authorities. The company plans to begin an exploration drilling program at the project in the coming weeks.
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· The Llamara Project is located within the Lithium Triangle in northern Chile, 600 km north of the company’s two flagship projects, Laguna Verde and the Francisco Basin.
A historic geophysical line completed by an oil exploration company shows an extensive subsurface zone of low resistivity interpreted as a saline aquifer in the project area with an aquifer thickness of several hundred meters. I’m here.
Although the aquifer has not been sampled for lithium, high lithium grades have been recorded in surface evaporite sediments, indicating a lithium source within the basin.
· A drilling program to test the underground aquifer will begin in the coming weeks, along with the drilling of low-cost exploration boreholes, subject to obtaining the necessary local approvals.
The drilling site was selected based on information from geophysical surveys interpreting thick, high-saline aquifers starting at a depth of approximately 240m.
· Separately, geological consultants are engaged to complete field and desktop studies of potential near-surface evaporated lithium minerals in the project area.
In greenfield projects, where lithium resources are established based on subsurface aquifers or surface evaporites, Direct Lithium Extraction (“DLE”) is processed to minimize the environmental impact of lithium extraction. expected to be used for
· With ongoing drilling programs at the more advanced Laguna Verde and Francisco Basin projects, the Company is very active with resource drilling programs expected to proceed concurrently at all three projects.
Aldo Boitano, CEO of Cleantech Lithium PLC, said:
“We are very pleased to have received the Llamara license from the Chilean authorities, which will allow us to proceed with our exploration drilling program. This is a large licensed area covering 344 km.2 In it, historical geophysical investigations interpret a thick underground brine aquifer. The planned drilling aims to see if the saltwater aquifer is rich in lithium. It will also conduct field and desk research on the potential for surface evaporation lithium deposits in the project area.
“Drilling programs are underway to expand existing resource estimates at our Laguna Verde and Francisco Basin projects, and Llamara offers additional exploration potential. No known exploration company in the lithium sector, underlining the quality of the team in Chile.
“We will try to keep the market updated on our progress and expect to announce the results of the first drilling at Ramallah early in the second quarter of 2023.”
Further information:
Exploratory Drilling Program to Test Subsurface Brine Aquifers
The primary exploration goal of the Llamala project is to test lithium enrichment in underground saline aquifers interpreted from historical geophysical surveys. Within the project area, two geophysical lines based on transient electromagnetism (“TEM”) have been completed by oil exploration companies. The location of Routes 45 and 24 relative to the licensed area is shown in Figure 1.
Figure 1. Historical geophysical lines intersecting the project area
In TEM-based geophysics, dissolved salt ions in saltwater are highly permeable and thus provide the lowest resistivity signal correlated to saline aquifers. Figure 2 shows the resistivity profiles of several TEM stations east of Route 24 in a recently granted licensed area. The lowest resistivity band, indicated by a bright magenta color scheme measuring resistivity below 1.0 ohm, is interpreted to correlate with high concentrations of salt water. Exploration borehole LM01 is planned at the location of TEM Station 39 and the resistivity profile indicates an approximate starting depth of 240m in the saline aquifer.
Figure 2. Historical geophysical lines intersecting the project area
The Aircore drilling rig will be mobilized to the site in the coming weeks and has the capacity to drill to depths of 700m. Exploration wells are initially not cased or developed because they are a relatively low-cost drilling method designed to intersect saline aquifers, collect brine samples, and test lithium enrichment. The results of this first drilling program are expected to be reported to the market early in the second quarter of 2023.
Evaluation of surface deposited lithium resource potential
The company, in collaboration with geological consultants in Chile, has conducted field and desktop studies to assess the lithium resource potential of near-surface evaporation minerals formed by natural evaporation of brine within the project area. A Chilean private company with a license just west of the CleanTech Lithium project has a 1.2 million tonnes of lithium carbonate equivalent (“ LCE”). Based on evaporation deposits.
If a project establishes a lithium resource based on subterranean aquifers or surface evaporites, DLE will be used for processing to minimize the environmental impact of lithium extraction.
qualified person
Christian Gert Feddersen Welkner: Geologist, MSc, Geology (University of Chile). With more than 20 years of experience, Mr. Feddersen is a Qualified Person as defined by the AIM Note for Mining, Oil and Gas Companies (June 2009), is independent of the Company and is a Chilean mining resource. and a member of the Reserves Qualification Committee. , “Authorized Professional Body” (OPR). He is registered under number 132 on the Public Register of Entitled Persons of Mineral Resources and Reserves under the Entitled Persons Act and its Regulations in force in Chile. His Feddersen, who reviewed and approved the geological information contained in the announcement, has substantial experience relevant to the style of mineralization and deposit type under consideration and the activities being carried out, and has the experience defined in the JORC Code. qualified as a competent person.
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For more information, please contact: |
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CleanTech Lithium PLC |
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Aldo Boitano/Gordon Stein |
Jersey Office: +44 (0) 1534 668 321 Chile Office: +562-32239222 |
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or via Celicourt |
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Sericourt communication |
+44 (0) 20 8434 2754 |
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Felicity Winkles/Philip Dennis/Ali Arqatani |
ctl@celicourt.uk |
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Dr. Reuters Investor Relations Dr. Eva Reuter Beaumont Corniche Limited (Nominee Advisor) Roland Cornish/Asia Shusiak |
+49 69 1532 5857 +44 (0) 207 628 3396 |
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Fox-Davies Capital Limited (Joint Broker) |
+44 20 3884 8450 |
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Daniel Fox Davis Canaccord Genuity Limited (Joint Broker) James Asensio Gordon Hamilton |
daniel@fox-davies.com +44 (0) 207 523 4680 |
The information communicated within this announcement is deemed to constitute inside information as provided for in the Market Abuse Regulation (EU) No 596/2014, which is part of the UK law pursuant to the European Union (Withdrawal) Act 2018. With the publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Director and CFO Gordon Stein.
Note
CleanTech Lithium (AIM:CTL) is an exploration and development company advancing next-generation sustainable lithium projects in Chile. Proudly sustainable and committed to zero net, our mission is to use proven sustainable direct lithium extraction technology to produce battery-grade, carbon-neutral lithium in large quantities and harness clean energy. , plans to become the greenest lithium supplier to the EV market.
CleanTech Lithium has three promising lithium projects, Laguna Verde, Francisco Basin and Llamara, located in the Lithium Triangle, the world center for battery-grade lithium production. The Laguna Verde and Francisco Basin projects are located within our wholly managed basins and offer significant potential development and operational advantages. Llamara is our latest greenfield project, with a low initial cost and great potential. All three projects have direct access to superior infrastructure and renewable power.
CleanTech Lithium is committed to using renewable power in processing and utilizing direct lithium extraction to reduce the environmental impact of lithium production. Direct Lithium Extraction is an innovative technique that removes only lithium from brine, resulting in high recovery and purity. This method offers short development lead times, low upfront investment, and since there is no large-scale site construction or evaporation pond development, there is no depletion of water from the aquifer or harm to the local environment.
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