CleanTech Lithium PLC (GOAL: CTL, Frankfurt: T2N, OTCQX: CTLHF), an expedition and advancement business advancing sustainable lithium tasks in Chile for the EV shift, reveals an updated JORC resource price quote of 1.8 million tonnes of lithium carbonate equivalent (” LCE”) at a grade of 200mg/L lithium at the Laguna Verde job. This upgrade consists of a substantial boost (39%) in the Determined and Shown resource to 1.1 million tonnes LCE, consisting of a big boost (174%) in the Measured resource.
This boost to the Determined and Shown resource will be utilized in the Pre-Feasibility Research Study (” PFS”) which is presently underway. This research study strengthens the job’s course to production, capital requirements and will support CleanTech Lithium’s engagement with prospective tactical partners.
Summary of the upgrade:
Table 1: Contrast of Laguna Verde JORC Resource Quotes: September 2022 and July 2023
This resource price quote remains in line with the Board ´ s expectations with the boost in the Determined + Shown classification now adequate for a production rate of 20,000 tonnes per year of battery grade lithium carbonate for a >> 30-year operation.
Emphasizes:
- Following effective drill programs in 1H 2023, the JORC resource price quote at Laguna Verde has actually been updated to 1.8 million tonnes of LCE at a grade of 200mg/L Lithium
- Determined and Prosecuted resource increased by 39% to 1.1 million tonnes LCE, of which Measured increased by 174% to 0.46 million tonnes LCE
- At the PFS/DFS phase when mining reserves are determined, Determined resources are utilized to establish tested reserves and Shown resources to possible reserves, so the big boost in Measured resource bodes well for PFS/DFS phase reserve estimation
- This follows a current pump test program finished on the 2 infill wells that supports the bore field circulation rates of 30L/s that were designed in the Laguna Verde Scoping Research study revealed in January 2023
- Overall capex invest in the Laguna Verde drilling and screening project projection at ⤠2.25 m was within 3% of the authorized spending plan
- For the Business ´ s 2nd job, Francisco Basin, a resource upgrade is anticipated in the coming weeks based upon the arise from the 5 wells drilled in 1H 2023
- This will be followed quickly later on by the Francisco Basin Scoping Research study which is currently well advanced.
Commenting, Aldo Boitano, President, of CleanTech Lithium PLC, stated: ” We are extremely motivated by this upgrade in the Laguna Verde resource price quote to 1.8 million tonnes of LCE with 1.1 million tonne s now in the Determined + Shown classification, supplying more self-confidence in the resource capacity and additional de-risking of the job after a comprehensive work program this year.
The resource price quote supplies the basis for the Pre-Feasibility Research study presently underway with a base case production rate of 20,000 tonnes of lithium carbonate per year. We anticipate the research study will declare the financial capacity for this job as we advance using Direct Lithium Extraction to provide green lithium to the EV market.”
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