CleanTech Lithium applies for new exploration licences

Highlights

• The Llamara Project is located within the highly prospective Lithium Triangle in Chile, 600 km north of the company´s two flagship projects, Laguna Verde and Francisco Basin.
• The projects relatively low altitude of 1100 m 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 >600 km2 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 metres.
• 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 four 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.

Aldo Boitano, CEO of CleanTech Lithium PLC, said: “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.”

Read the article online at: https://www.globalminingreview.com/exploration-development/28062022/cleantech-lithium-applied-for-new-exploration-licences/