Volt Lithium announces resource report from its Rainbow Lake Property

Key highlights:

• 4.3 million t of LCE in the Inferred Mineral Resource category from the Devonian aged Sulfhur Point, Muskeg and Keg River (the Elk Point Group) aquifers.
• Rainbow Lake Property has an estimated 99.0 billion bbl (15.7 billion m3) of brine, more than 20 billion bbl higher than the 78 billion bbl previously estimated, with lithium concentrations as high as 121 mg/L and an estimated average associated lithium concentration of 51 mg/L.
• The Inferred Mineral Resource equates to 215 times the estimated peak production of 20 000 tpy, demonstrating the sheer size and scale of this lithium asset.
• Results from Volt’s current pilot project are anticipated before the end of 2Q23.
• Volt’s total land position at Rainbow Lake equals approximately 430 000 acres (approximately 670 sections) and features over 1300 producing wells from which to source brine.
• Volt intends to focus development on those areas of its asset base featuring the highest lithium concentrations, including the regions highlighted on the map below, where testing demonstrated concentrations between 101 and 121 mg/L in the Muskeg Formation, levels that are expected to drive strong economic returns and robust cash flows.

Alex Wylie, President and CEO of Volt, comments:

“Receipt of this technical report represents a landmark milestone and defining moment for Volt as we confirm an estimated 4.3 million t of LCE with concentrations as high as 121 mg/L across parts of our land base, underpinning our commitment to be an integral part of the clean energy transition.

“With this technical report in hand, we have a strong foundation to continue developing our assets with the goal of increasing the resource estimate and further expanding our high lithium concentrations. We are at a true inflection point in Volt’s journey as we advance our goal of becoming North America’s first commercial producer of lithium from oilfield brine, which will set the stage for the Company to secure additional assets and oil and gas company partnerships where we can apply our proprietary technology to target the efficient and profitable extraction of lithium from brine.”

Read the article online at: https://www.globalminingreview.com/mining/23052023/volt-lithium-announces-resource-report-from-its-rainbow-lake-property/