CleanTech Lithium PLC has announced an update on activities at two exploration stage projects – sampling results from the Llamara Project and commencement of initial geophysics at a new exploration project in the Salar de Atacama basin.
Llamara highlights:
- Llamara is a greenfield exploration project with a licence area of 605 km2 located within a large basin in Northern Chile.
- The maiden drill programme aimed to test the lithium prospectivity of two targets, firstly a subsurface brine aquifer, and secondly a surface evaporite mineral.
- Brine samples collected from the first well were depleted in lithium while the first batch of surface samples recorded minor lithium enrichment along with high grades of boron.
- A second batch of surface sample results are pending, and the company will then consider the next stage of exploration at the project.
Salar de Atacama highlights:
- Applications lodged and now registered for new licences covering a total area of 377 km2 in the Salar de Atacama basin, the leading lithium production base in the world.
- A geophysics programme has commenced with the first completed section identifying a subsurface brine aquifer target.
- Salar de Atacama is designated as a strategic salar by the Chilean government – any commercial development will require a joint venture with a state entity holding a majority (51%) stake, which the company views as suitable for such a strategically important basin.
- Community engagement will also be crucial. CTL’s focus on direct lithium extraction (DLE), which removes the need for evaporation ponds, provides a compelling case for a new low impact approach to lithium production in the Salar de Atacama basin.
- Whilst CTL’s exploration stage projects provide upside, the company remains fully focused on the advanced Laguna Verde (PFS underway) and Francisco Basin (scoping study completed) projects.
Commenting, Aldo Boitano, Chief Executive Officer, of CleanTech Lithium PLC, said:
“While we continue to progress our key projects Laguna Verde and Francisco Basin, exploration at additional prospects in Chile is also advancing. At our Llamara project we are in the process of receiving and evaluating the results, while initial geophysics results from new licences applied for recently at the Salar de Atacama basin are very positive. We will continue to update the market on how we move forward with these projects.”