CleanTech Lithium reports Laguna Verde and Francisco Basin drilling updates

Highlights:

• Laguna Verde drilling campaign encountered greater drilling depths and was longer than planned with a 43% increase in aquifer thickness over the four wells compared to the geophysics model, boding well for the JORC resource upgrade.
• First batch of 18 brine assays received for the Laguna Verde Project from an independent laboratory, ALS Chile, with a peak grade of 409 mg/l lithium recorded:
  • A total of 10 samples from hole LV03 collected from 335 m to 497 m have been assayed, with an average lithium grade of 245 mg/l lithium.
  • The deepest four samples from LV03, an incline hole which reached closest to the Laguna sub-surface, measured grades 349 – 409 mg/l lithium.
  • These samples provide a strong indication that higher lithium grades are present directly beneath the Laguna subsurface, an important target for additional drilling and future development planning.
  • A total of 8 samples from hole LV01 collected from 356m to 473m were assayed, with an average grade of 217mg/l lithium.
• Brine sample temperatures reached up to 30.6°C indicating a strong geothermal influence on sub-surface brine, potentially reducing project operating costs and environmental footprint.
• Assays from the cased levels (0 – 320 m) of completed holes at both Laguna Verde and Francisco Basin projects, are expected in the coming weeks and will be reported to the market.
• Upgraded JORC resource at Laguna Verde and maiden resource at Francisco Basin targeted for early July 2022.

Aldo Boitano, Chief Executive Officer of CleanTech Lithium, comments:

“We are very pleased with the increased aquifer depth encountered and the first batch of brine assays from Laguna Verde, which include a number of high lithium grades that provide an important target for further drilling. We look forward to updating the market with further results in due course. We are confident this will lead to an upgraded JORC resource at Laguna Verde and a maiden resource at Francisco Basin, which we are targeting for early July.

“We are also expecting the imminent results of independent testing of a 1 kg sample of battery grade lithium produced by laboratory scale DLE test-work. This will be announced to the market upon receipt.”

Read the article online at: https://www.globalminingreview.com/mining/07062022/cleantech-lithium-reports-laguna-verde-and-francisco-basin-drilling-updates/