TIDMCTL
RNS Number : 4882O
CleanTech Lithium PLC
01 February 2023
01.02.2023
CleanTech Lithium PLC ("CleanTech Lithium" or the "Company")
Granting of Licences and Operational Plans at Llamara
CleanTech Lithium (AIM:CTL), an exploration and development
company, advancing the next generation of sustainable lithium
projects in Chile, announces that all of the exploration licences
at the prospective greenfield project covering a total area of over
344 km(2) (the "Llamara Project") which the Company applied for in
Q2 2022, have been granted by the Chilean authorities. The Company
plans to commence an exploration drilling programme at the project
in the coming weeks.
Highlights:
-- The Llamara Project is located within the Lithium Triangle in
northern Chile, 600km north of the Company's two flagship projects,
Laguna Verde and Francisco Basin
-- Historical geophysics lines completed by an oil exploration
company shows an extensive subsurface low resistivity zone which is
interpreted to be a brine aquifer in the project area with an
aquifer thickness of several hundred metres
-- The aquifer has not been sampled for lithium, however
elevated lithium grades are recorded in surface evaporite deposits,
indicating a lithium source within the basin
-- A drilling programme to test the subsurface aquifer will
commence in the coming weeks with the drilling of a low-cost
exploration drill hole, subject to obtaining the necessary local
approvals
-- The drill site was selected based on information from a
geophysics survey which interprets a thick hypersaline aquifer at
the location starting from a depth of approximately 240m
-- Separately, a geology consultant has been engaged to complete
a field and desk-top study on the near surface evaporite lithium
mineral potential in the project area
-- If a lithium resource is established at the greenfield
project, either based on the subsurface aquifer or surface
evaporites, it is expected Direct Lithium Extraction ("DLE") would
be utilised for processing to minimise the environmental impact of
lithium extraction
-- With drilling programmes at the more advanced Laguna Verde
and Francisco Basin projects ongoing, the Company is extremely
active with resource drilling programmes expected to be progressing
at all three projects simultaneously shortly.
Commenting, Aldo Boitano, Chief Executive Officer, of Cleantech
Lithium PLC, said:
"We are very pleased to have been granted the Llamara licences
by the Chilean authorities, allowing us to move forward with an
exploration drilling programme. This is a large licence area
covering 344 km(2) within which a historical geophysics survey
interprets a thick subsurface brine aquifer. The planned drilling
will aim to establish if the brine aquifer is enriched in lithium.
We will also carry out a field and desk-top study on the potential
for a surface evaporite lithium deposit in the project area.
"Drilling programmes to expand existing resource estimates at
our Laguna Verde and Francisco Basin projects are ongoing with
Llamara providing additional exploration potential. We are not
aware of any exploration company in the lithium sector that has
progressed resource drill programmes at three projects
concurrently, which further highlights the quality of the team we
have in Chile.
"We will endeavour to keep the market up to date with our
progress and expect to announce the results of the initial drilling
at Llamara in early Q2 2023."
Further Information:
Exploration Drilling Programme to Test Subsurface Brine
Aquifer
The primary exploration target at the Llamara Project is to test
the lithium enrichment of a subsurface brine aquifer interpreted
from historical geophysics surveys. Within the project area, two
geophysics lines based on transient electromagnetics ("TEM") were
completed by an oil exploration company. The location of Lines 45
and 24 in relation to the licence area is shown in Figure 1.
Figure 1. Historical Geophysics Lines Intersecting Project
Area
TEM based geophysics provide a resistivity signal with the
lowest resistivity correlated to brine aquifers, as dissolved salt
ions in brine are highly transmissive. Figure 2 presents the
resistivity profile of several TEM stations on the eastern side of
Line 24, which are located on the recently granted licence area.
The lowest resistivity band which is shown by the light magenta
colour scheme measuring resistivity of <1.0 Ohm, is interpreted
to correlate to highly concentrated brine. An exploration drilling
hole LM01 is planned at the location of TEM station 39, where the
resistivity profile indicates the brine aquifer has an approximate
starting depth of 240m.
Figure 2. Historical Geophysics Lines Intersecting Project
Area
An Aircore drilling rig will be mobilised to the site in the
coming weeks with the capacity to drill to a depth of 700m. The
exploration well will not initially be cased or developed as this
is a relatively low-cost drilling method designed to intersect the
brine aquifer, collect brine samples and test the lithium
enrichment. The results of this initial drilling program are
expected in early Q2 2023 and will be reported to the market.
Evaluation of Surface Evaporite Lithium Resource Potential
The Company has engaged a Chilean geological consultant to
undertake a field and desk-top study to evaluate the lithium
resource potential of any near surface evaporite minerals, formed
by the natural evaporation of brine, in the project area. A private
Chilean company with licences immediately west of CleanTech
Lithium's project has reported an NI43-101 compliant resource of
1.2 million tonnes of Lithium Carbonate Equivalent ("LCE") at an
average grade of 956ppm Li (peak grade of 3,560ppm Li) based on an
evaporite deposit.
If a lithium resource is established at the project either based
on the subsurface aquifer or surface evaporites, DLE would be
utilised for processing to minimise the environmental impact of
lithium extraction.
Competent Person
Christian Gert Feddersen Welkner: Geologist and Master of
Science, major in geology (University of Chile) . With more than 20
years of experience, Mr Feddersen is a qualified person, as defined
in the AIM Note for Mining, Oil and Gas Companies (June 2009),
independent of the company and a member of the Chile Mining
Resources and Reserves Competence Qualifying Commission, a
"Recognised Professional Organisation" (OPR). He is registered with
No. 132 in the public registry of Competent Persons in Mineral
Resources and Reserves, under the Law of Competent Persons and its
Regulations in force in Chile. Mr Feddersen, who has reviewed and
approved the geological information included in the announcement,
has sufficient experience relevant to the style of mineralisation
and type of deposit under consideration and the activity being
undertaken and qualifies as a competent person, as defined in the
JORC Code.
-S-
For further information contact:
CleanTech Lithium PLC
Aldo Boitano/ Gordon Stein Jersey office: +44 (0) 1534
668 321
Chile office: +562-32239222
Or via Celicourt
Celicourt Communications +44 (0) 20 8434 2754
Felicity Winkles/Philip Dennis/ ctl@celicourt.uk
Ali AlQahtani
Dr. Reuter Investor Relations
Dr. Eva Reuter
+49 69 1532 5857
Beaumont Cornish Limited
(Nominated Adviser)
Roland Cornish/Asia Szusciak +44 (0) 207 628 3396
Fox-Davies Capital Limited
(Joint Broker) +44 20 3884 8450
Daniel Fox-Davies daniel@fox-davies.com
Canaccord Genuity Limited +44 (0) 207 523 4680
(Joint Broker)
James Asensio
Gordon Hamilton
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018. Upon
publication of this announcement, this inside information is now
considered to be in the public domain. The person who arranged for
the release of this announcement on behalf of the Company was
Gordon Stein, Director and CFO.
Notes
CleanTech Lithium (AIM:CTL) is an exploration and development
company, advancing the next generation of sustainable lithium
projects in Chile. Proudly sustainable, committed to net-zero, our
mission is to produce material quantities of battery grade,
carbon-neutral lithium using proven sustainable Direct Lithium
Extraction technology, powered by clean energy, we plan to be the
greenest lithium supplier to the EV market.
CleanTech Lithium has three prospective lithium projects -
Laguna Verde, Francisco Basin and Llamara - located in the lithium
triangle, the world's centre for battery grade lithium production.
The Laguna Verde and Francisco Basin projects are situated within
basins entirely controlled by the Company, which affords
significant potential development and operational advantages.
Llamara is the Company's latest greenfield project, which offers
material potential upside at a low initial cost. All three projects
have direct access to excellent infrastructure and renewable
power.
CleanTech Lithium is committed to using renewable power for
processing and reducing the environmental impact of its lithium
production by utilising Direct Lithium Extraction. Direct Lithium
Extraction is a transformative technology which only removes
lithium from brine, with higher recoveries and purities. The method
offers short development lead times, low upfront capex, with no
extensive site construction and no evaporation pond development so
there is no water depletion from the aquifer or harm to the local
environment.
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