Cleantech Lithium PLC announce resource upgrade at Laguna Verde

The upgraded resource estimate provides the basis for undertaking a pre-feasibility Study (PFS) at Laguna Verde, planned to commence in 4Q22, as the company continues to develop its projects towards producing carbon neutral lithium for the EV market. The PFS is expected to evaluate a base case production rate of 20 000 tpy of battery grade lithium, with the resource of 1.51 million t LCE providing the basis for a >30-year operation.

Highlights:

• Resource drill programme, comprising of four holes, was completed in 1H22 with the resource upgrade based on three of the four holes sampled prior to the Chilean winter break.
• JORC compliant resource estimate increased by 22% to 1.51 million t LCE at a grade of 206 mg/L, with 53% of the resource now in the measured and indicated category (0.803 million t LCE).
• It is on track to be further upgraded as follows: 
  • In 4Q22 based on data from all four holes which is expected to increase both resource size and grade.
  • In 1H23 from an infill drill programme planned to commence in the near future.
• The deepest hole in the programme recorded lithium grades of up to 409 mg/L at the bottom of the hole, indicating drilling to depth provides further upside.
• Laguna Verde is globally the shallowest lithium resource with a geothermal heat source, with brine temperatures of 20°C – 30°C starting within 65 m of the surface.
• This is in the optimal temperature range for the direct lithium extraction (DLE) adsorption process based on test-work by key technical partners SunResin and Beyond Lithium.
• Heating brine can be a significant component of a DLE plant's energy consumption and operating costs.
• Feasibility studies will evaluate the impact of this geothermal influence on reducing operating costs and the environmental footprint of the project.
• A scoping study for the project is expected to be completed in October/November 2022.
• For the company's second project, Francisco Basin, a maiden inferred resource estimate is expected in the coming weeks, based on the results of the first drill hole completed at the project, which had an average lithium grade of 305 mg/L.

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

“We are very pleased with this upgrade in the Laguna Verde resource estimate to 1.51 million t of LCE, with more than half of the resource now in the measured and indicated category, providing much higher confidence in the resource potential of the asset. The resource estimate now provides the basis for a pre-feasibility study, with a base case production rate of 20 000 tpy LCE, expected to utilise 100% renewable energy for process power providing green lithium to the EV industry. Laguna Verde is unique in being a geothermal influenced brine resource starting from near surface, which we think will positively impact operating costs and reduce the environmental footprint."

Read the article online at: https://www.globalminingreview.com/mining/14092022/cleantech-lithium-plc-announce-resource-upgrade-at-laguna-verde/