CleanTech Lithium provides update on Chilean projects

Highlights:

Operations:

• Laguna Verde:
  • Resource drilling commenced at LV06 on 23 November 2022, installation of metal casing over the upper 42 m has been completed successfully.
• • A second rig has been mobilised so drilling at LV06 and LV05 can proceed concurrently.
  • Updated JORC resource estimate remains on track for the end of 1Q23.
  • Scoping study to be reported to the market in the coming weeks.
  • Pre-feasibility study (PFS) quotes received from two leading international consultants, appointment to be confirmed this month and work to commence immediately afterwards. Plan to complete PFS in 2H23.
• Francisco Basin:
  • Resource drilling – improvement to access road underway which will be followed by establishment of the camp and commencement of drilling by month end.
  • Scoping study underway, expected to be completed in 1Q23.
  • Updated JORC resource estimate from wells FB02, FB03 and FB04 expected by the end of 1H23.
• Llamara:
  • Granting of licences is in the final stages, having complied with all the relevant court requirements, plan to commence drilling in early 1Q23 once licences have been granted.
• Direct lithium extraction (DLE) pilot plant:
  • Lab scale DLE demo unit delivered to Copiapo, Chile, being set up with the assistance of the DLE processing partner, SunResin.
  • Pilot plant DLE unit, a component of a full pilot plant to produce 1 t per month of battery grade lithium as carbonate and hydroxide, has been ordered from SunResin’s facilities in Belgium. Installation and commissioning expected in 2Q23.
• Expansion of operational team in Chile and plan to open an office in Copiapo as the operational centre for the company in the coming weeks.

Board visit to Chile:

• Visits made to both sites at Laguna Verde and Francisco Basin to meet the drilling crews and see the ongoing drilling of well LV06 at Laguna Verde.
• Very positive meetings held with key central and regional authorities to promote CleanTech Lithium and seek cooperation towards the company’s plan to commence production at Laguna Verde in 2025, including discussions on progressing the production permit (CEOL) applications.
• Meeting held with SunResin representatives in Santiago to agree the forward programme on the company’s plan to commence construction of the first 20 000 tpy lithium carbonate/hydroxide production facility at Laguna Verde in 2024 – with SunResin confirming the plant can be delivered to the Shanghai port within eight months of being ordered.

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

“We are delighted to see significant progress being made on many fronts. Our drilling campaign at Laguna Verde has re-commenced and mobilisation to Francisco Basin is expected very shortly. We intend to announce the results of the Laguna Verde Scoping study in the very near future and commence the PFS soon after. “The recent Board visit involved positive meetings with key Government and regional representatives, all of whom expressed support for the company’s objective to produce battery grade lithium in a relatively short timescale and in a sustainable manner. They were pleased to see the company employing increasing numbers of locals and promoting the company’s green credentials with local communities. An office will be opened in Copiapo which will further facilitate this engagement.

“Finally, we had a very positive meeting in Santiago with our DLE processing partner, SunResin, who have already delivered DLE plants in various countries and are working with the company on our pilot plant. We feel reassured that they will be able to work towards our expected schedule to deliver the facilities required to commence lithium production from our projects in 2025 and we look forward to working with SunResin as a long-term commercial partner, delivering our pilot plant in the near-term.”

Read the article online at: https://www.globalminingreview.com/mining/06122022/cleantech-lithium-releases-operations-update-on-chilean-projects/