CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and improvement firm advancing sustainable lithium initiatives in Chile, gives an operational replace on progress with the Laguna Verde pre-feasibility research (“PFS”), the 2024 exploration programme and Direct Lithium Extraction (“DLE”) pilot plant course of work to supply battery-grade lithium carbonate.
Highlights:
Laguna Verde PFS Replace
- Location of most popular websites for carbonation plant in Copiapó and port amenities for export of ultimate lithium carbonate product have been chosen
- Energy provide research accomplished evaluating choices for onsite renewables which gives a aggressive various to the bottom case of a transmission line and grid connection
- Choice to utilise electrical truck transport recognized, lowers emissions and noise air pollution, and by hauling from excessive to low altitude regenerative charging reduces energy consumption
- Choice to configure mission based mostly on finding DLE plant at Laguna Verde and carbonation plant in Copiapó has quite a few benefits contributing to a extra sturdy PFS
- Engineering for this configuration has prolonged the anticipated PFS supply to Q1 2025
Exploration Programme and Pilot Plant Updates
- Outcomes from two accomplished wells and pump assessments for the 2024 discipline programme have been acquired rising information of the useful resource and offering further info for the hydrogeological mannequin
- Downstream processing work from our pilot plant is progressing properly with lithium carbonate manufacturing anticipated in November
Investor webinar
Steve Kesler, Government Chairman and Interim Chief Government Officer, CleanTech Lithium PLC, mentioned:
“With the current announcement by the Chilean Authorities to prioritise six salt flats, together with Laguna Verde, to begin the method of awarding Particular Working Lithium Contracts (CEOLs), we’re centered on the important thing facets to advance the mission, being allowing, completion of the PFS and manufacturing of battery grade lithium carbonate from our pilot plant.
Progress has continued on central parts of the PFS with analysis of plant location, energy provide and transport choices. As a frontrunner in growing DLE based mostly initiatives in Chile, we goal to enter manufacturing in 2027 when the lithium market is anticipated to rebalance, offering a powerful long run development outlook.”
Additional Info
Websites Chosen for Carbonation Plant and Port for Export of Last Product
As a part of the continuing PFS for the Laguna Verde mission, a trade-off evaluation was accomplished which decided the DLE plant and eluate focus phases needs to be situated on the Laguna Verde web site, and the carbonation plant on the close by mining centre of Copiapó. This was reported to the market on July 2, 2024. The re-configuration required a change in pre-engineering design offered by Lanshen Know-how, the Firm chosen to offer the lithium processing plant design and gear. This has prolonged the anticipated PFS completion, which was initially focused for This fall 2024, into Q1 2025.
The Firm has since undertaken research to find out the best location of the carbonation plant in Copiapó and chosen a web site. After evaluating a number of choices, a web site in an industrial zone which by-passes to the south-east of Copiapó was chosen, as proven in Determine 1. This location has present energy and water provide choices and gives a direct path to port.
Determine 1: Carbonation Plant Location Map
Determine 2: Carbonation Plant Design Structure
A trade-off evaluation was undertaken to judge transport corridors and port amenities offering 4 totally different choices for export of ultimate lithium product. The research indicated that the close by Caldera Port gives the best option both utilising present infrastructure which is presently utilised for seasonal cargo of agricultural merchandise, proven in Determine 3. Different port choices are additionally obtainable and will come into consideration nevertheless Caldera Port is the present desire.
Determine 3: Caldera Port Present Services
Energy Provide Different of Onsite Renewable Era
The Firm engaged Chilean marketing consultant Clear Energy Hunters to undertake an influence provide research to judge the choice of utilizing renewable energy generated on the mission web site as a substitute for the bottom case of a transmission line and grid connection. Laguna Verde is situated within the area with the very best photo voltaic irradiance on this planet, as proven in Determine 4. Evaluation of estimated Capex and Opex was offered based mostly on totally different configurations of onsite renewables, both photo voltaic plus a battery power storage system (BESS) or photo voltaic plus wind plus BESS. Determine 5 exhibits the bottom Capex corresponds to combining photo voltaic with three wind generators plus BESS.
Determine 4: Photo voltaic Irradiance Map
Determine. 5: Photo voltaic + Wind + BESS Situations Capex Break up
The Firm has acquired proposals together with from main international photo voltaic plus BESS suppliers, per the prices estimated within the research and aggressive with the grid connection possibility. The financing mannequin for each the grid connection mannequin or the choice of onsite renewables is anticipated to be based mostly on an influence buy settlement and a construct personal function foundation by established suppliers. These proposals can be constructed into the PFS and the business evaluation of the mission.
Truck Transport Research
Primarily based on the end result of the plant location research the Firm will transport 6% Li in resolution put up the DLE and focus phases at Laguna Verde to the carbonation plant. Use of ordinary and electrical vehicles is being in contrast with the latter offering a number of potential advantages along with chopping CO2 emissions. Electrical vehicles are properly suited to hauling masses from excessive to low altitudes by profiting from regenerative charging to cut back energy consumption and required battery capability. Minimal noise and elimination of tailpipe emissions is especially enticing contemplating the transport route traverses an indigenous neighborhood settlement roughly 100km from the mission web site, a neighborhood the corporate has been working with intently.
The Firm has gathered perception from a number of potential suppliers. Chinese language firm XCMG is a frontrunner in electrical vehicles and is actively increasing its providing in Chile, with its E7-49T mannequin which has a haulage load of 49 tonnes probably offering an appropriate possibility. The expertise is evolving quickly and is anticipated to offer a strongly price aggressive possibility in keeping with the mission improvement timeline.
Determine. 6: XCMG´s vary of electrical transport vehicles
Determine. 7: Paved Freeway to Laguna Verde
2024 Exploration Programme Replace
CleanTech Lithium´s 2024 drilling programme anticipated to drill 5 new useful resource wells, as proven in Determine 8, with the goal of upgrading the prevailing Measured and Indicated useful resource into maiden Reserves for the Laguna Verde mission. The prevailing JORC compliant useful resource estimate of 1.8 million tonnes of lithium carbonate equal (LCE) is predicated on six wells accomplished in 2022 and 2023. The Firm engaged Montgomery & Associates Consultores Limitada (“Montgomery” or “M&A”), a number one hydrogeological marketing consultant, for the programme. Throughout 1H 2024, two of the 5 useful resource wells had been accomplished being LV07 and LV11, together with three statement wells drilled to help observations throughout pumping assessments, earlier than winter situations curtailed the programme in June 2024. The total 2024 programme is paused till additional funding is on the market following the Firm´s deliberate ASX fund elevating and consequently Montgomery has produced an interim report on work accomplished.
Determine 8: Laguna Verde Drilling Wells Map – Present unique determine
Drilling actions for exploration borehole LV07 reached a last depth of 650m beneath land floor. This properly was drilled with PQ3 diameter from land floor to 300m, and with HQ3 diameter from 300m to 650m. Packer samples had been obtained throughout drilling for 2-meter packer intervals and the amount of the properly was purged no less than one time earlier than acquiring the pattern. Assuming a lithium cut-off grade of 100 mg/L, the common lithium grade of the packer samples corresponds to 139 mg/L with the properly encountering decrease density water within the higher 150m.
In distinction to LV07, drilling at LV11 didn’t attain the anticipated depth as a result of presence of hydrothermal waters (below strain) which had been encountered throughout drilling, with a last depth of 412.8m beneath land floor. Assuming a lithium cut-off grade of 100 mg/L, the common lithium grade of the packer outcomes would correspond to 131 mg/L. Basically, it’s believed that lithium grades lower beneath 220m at LV11 as a result of presence of dilute hydrothermal waters which had been encountered throughout drilling. The presence of hydrothermal waters within the jap portion of the Venture are extra dilute than the common lithium grade measured in different exploration wells.
Determine 9: Drilling at LV07 in 1H 2024
Lithology and Drainable Porosity
Primarily based on core retrieved from drilling, probably the most predominant lithology encountered corresponds to a volcanic tuff with variable ranges of consolidation and welding based mostly on the depth and site. As decided by relative brine launch testing at Geosystems Evaluation (GSA) laboratory in Tuscon, USA, drainable porosity values of collected core samples from LV07 and LV11 vary from 0.3% to 9.2%, with an arithmetic common of roughly 4%; that is thought of by Montgomery to be affordable for the encountered lithologic models based mostly on visible inspection of the core.
Determine 10: Instance of Drill Core from Exploration Borehole LV11 (132 to 136m)
Hydrogeological Analysis
Along with useful resource drilling, the 2024 marketing campaign aimed to finish pump assessments to judge the feasibility of lithium brine extraction for the Venture and to additionally estimate aquifer parameters. Previous to the winter break, three statement wells had been accomplished and preliminary variable charge step assessments and a continuing charge stream take a look at undertaken. The supposed lengthy period pump assessments at properly LV05 was not in a position to be accomplished, nevertheless a 7-day pumping take a look at was efficiently accomplished at LV06. With information obtained up to now, Montgomery is ready to proceed refining the hydrogeological modelling that can feed into the design of the extraction and reinjection properly fields for the PFS. A key side is to make sure no impression on floor water our bodies.
Suggestions and Subsequent Steps
Primarily based on the obtained outcomes from the 2024 exploration programme, really helpful priorities for continued exploration embody further drilling and testing within the western portion of the Venture concessions. An extended-term pump take a look at at LV05 (as a part of the deliberate reinjection take a look at) may also support in demonstrating possible extraction and reinjection to the west of the basin. An extended-term take a look at at LV05 may also enable for a greater understanding of the hydraulic connection between the deep and shallow aquifers in that space.
On the completion of the 5 properly programme as initially deliberate for 2024, the prevailing JORC compliant useful resource estimate of 1.8 million tonnes can be up to date and a Reserve estimate can be calculated for the mission. The Reserve calculation is the economically mineable a part of the Measured and/or Indicated useful resource and this can be outlined by the PFS information demonstrating that extraction may moderately be justified. Progress continues on the PFS and the remaining deliberate wells can be accomplished as funds can be found following completion of the deliberate ASX capital elevating.
Pilot Plant Replace
Downstream conversion of concentrated eluate from the Firm´s pilot plant into battery grade lithium commenced final week on the amenities of Conductive Vitality in Chicago, USA. The preliminary quantity of 88m3 of concentrated eluate from Laguna Verde, equal to roughly one tonne of lithium carbonate equal (“LCE”), can be processed in 4 batches with the primary batch anticipated to supply a quantity of battery-grade pattern product in November. With this product, the Firm plans to interact with strategic companions for product qualification.
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For additional info contact: |
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CleanTech Lithium PLC |
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Steve Kesler/Gordon Stein/Nick Baxter |
Jersey workplace: +44 (0) 1534 668 321 Chile workplace: +562-32239222 |
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Or by way of Celicourt |
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Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani |
+44 (0) 20 7770 6424 cleantech@celicourt.uk |
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Beaumont Cornish Restricted (Nominated Adviser) Roland Cornish/Asia Szusciak |
+44 (0) 20 7628 3396 |
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Fox-Davies Capital Restricted (Joint Dealer) Daniel Fox-Davies |
+44 (0) 20 3884 8450 daniel@fox-davies.com |
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Canaccord Genuity (Joint Dealer) James Asensio |
+44 (0) 20 7523 4680 |
Competent Individuals
The next professionals act as Competent Individuals (CPs), as outlined within the AIM Notice for Mining, Oil and Fuel Corporations (June 2009) and JORC Code (2012):
Mike Rosko and Brandon Schneider of M&A are Registered Members of the Society of Mining, Metallurgy, and Exploration and have functioned as CPs for lithium brine initiatives below Canadian, Australian, and United States technical reporting requirements. Their related expertise contains:
· Mike Rosko has been estimated lithium brine sources since 2010, and has functioned as a CP for Lithium One’s Sal de Vida mission, Millennial Lithium’s Pastos Grandes mission, Lithium Chile’s Salar de Arizaro mission, NOA Lithium’s Rio Grande mission, Lithium America’s Cauchari mission, Wealth Minerals’ Salar de Ollague mission, Gangfeng’s Mariana mission, Eramine’s Centenario/Ratones mission, Posco Lithium’s Sal de Oro mission, Pepennini’s Salar de Pular mission, and others, and has ready quite a few third get together due diligence and unbiased geologist studies in Argentina, Chile, and america.
· Brandon Schneider makes a speciality of lithium brine reserve estimates, variable density stream modeling, and optimization of brine pumping in salt flats of Argentina and Chile. He has functioned as a CP for the Sal de Vida Venture of Arcadium Lithium and Salar de Arizaro Venture of Lithium Chile and was answerable for the reserve estimate and projected wellfield design. He additionally collaborates on the lithium brine exploration phases, useful resource estimation, and due diligence evaluations for lithium brine initiatives.
Beaumont Cornish Restricted (“Beaumont Cornish”) is the Firm’s Nominated Adviser and is authorised and controlled by the FCA. Beaumont Cornish’s duties because the Firm’s Nominated Adviser, together with a duty to advise and information the Firm on its duties below the AIM Guidelines for Corporations and AIM Guidelines for Nominated Advisers, are owed solely to the London Inventory Alternate. Beaumont Cornish just isn’t performing for and won’t be accountable to some other individuals for offering protections afforded to prospects of Beaumont Cornish nor for advising them in relation to the proposed preparations described on this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and improvement firm advancing lithium initiatives in Chile for the clear power transition. Dedicated to net-zero, CleanTech Lithium’s mission is to develop into a brand new provider of battery grade lithium utilizing Direct Lithium Extraction expertise powered by renewable power.
CleanTech Lithium has two key lithium initiatives in Chile, Laguna Verde and Viento Andino, and exploration stage initiatives in Llamara and Arenas Blancas (Salar de Atacama), situated within the lithium triangle, a number one centre for battery grade lithium manufacturing. The 2 most superior initiatives: Laguna Verde and Viento Andino are located inside basins managed by the Firm, which affords important potential improvement and operational benefits. All 4 initiatives have good entry to present infrastructure.
CleanTech Lithium is dedicated to utilising Direct Lithium Extraction with reinjection of spent brine leading to no aquifer depletion. Direct Lithium Extraction is a transformative expertise which removes lithium from brine with greater recoveries, quick improvement lead instances and no intensive evaporation pond development. www.ctlithium.com
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