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Jindalee Lithium
Investor Insight
Jindalee Lithium’s flagship McDermitt Lithium Project (McDermitt) offers investors exposure to a generational, high-margin critical minerals asset. The recently completed Pre-Feasibility Study (PFS) demonstrates robust economics, positioning McDermitt as a key enabler of North America's clean energy transition and a cornerstone of the US critical minerals strategy to de-risk supply chains through increased domestic production.
Overview
Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) is a pure-play lithium company with a strategic focus on the United States. Its 100 percent-owned McDermitt Lithium Project is the largest lithium deposit in the US, boasting a resource of 21.5 million tons (Mt) of lithium carbonate equivalent (LCE).
Backed by a recently released (November 2024) Pre-Feasibility Study (PFS) demonstrating very compelling economics, McDermitt is poised to play a crucial role in meeting North America’s growing lithium demand for battery materials.
As the US continues to transition to clean energy, demand for lithium is expected to exponentially increase. Jindalee’s McDermitt project, located in southeast Oregon, is a game-changer for North American lithium supply, critical for meeting the demands of a fast-growing electric vehicle and renewable energy industries with specific emphasis on developing and de-risking domestic supply chains.
McDermitt also stands to significantly benefit from the US government’s policies and incentives to boost domestic supply of critical resources. In fact, in a move that signifies the US government's support of the McDermitt Project, the US Department of Energy's Ames National Laboratory signed a Cooperative Research and Development Agreement (CRADA) with Jindalee's subsidiary HiTech Minerals to develop cutting-edge extraction methods for McDermitt. Under this agreement the US Department of Energy (DOE) will fund work aimed at reducing costs and improving sustainability outcomes for the Project. The Ames National Laboratory spearheads the DOE's Critical Materials Innovation Hub. Jindalee is also advancing an application for a grant from the US Department of Defense, which has the potential to co-fund a feasibility study and associated work programs at McDermitt.
Key milestones in the US lithium resource space also provide significant insights into the future prospects for McDermitt. Lithium Americas’ (TSX:LAC), has received a US$945 million commitment from General Motors, to fund the development, construction and operation of the Thacker Pass project in Humboldt County, Nevada, located 30km away from and in the same geological formation as Jindalee’s McDermitt Lithium Project. LAC has also closed a $2.3 billion US Department of Energy loan in late 2024 to fund approximately 75 percent of the construction capital cost (US$2.93B).
Another lithium resource developer in Nevada, Australia-based Ioneer (ASX:INR) is expected to receive a total investment of US$700 million through a new joint venture with Sibanye Stillwater, in addition to a conditional loan commitment of US$650 million from the US Department of Energy, both acting to strengthen the development of its flagship Rhyolite Ridge lithium-boron project.
In late 2024, ASX-listed company Patriot Battery Metals Inc (ASX:PMT) announced a C$69 million investment, strategic partnership and offtake agreement with global automotive group Volkswagen which aims underpin the development of Patriot’s upstream lithium project in Quebec, Canada.
These are just a few examples of current market dynamics that point to rapidly accelerating lithium resource development in the US and Canada demonstrating the investment appetite of strategic partners, as well as support from the US government via low-cost concessional debt funding.
An experienced management team, with the right blend of experience and expertise in project development, corporate administration and international finance provides Jindalee with the leadership to fully capitalise on the potential of its assets.
Company Highlights
- Jindalee Lithium is focused on its wholly owned flagship McDermitt Lithium Project, currently the largest lithium deposit in the US
- A PFS for McDermitt – delivered in November 2024 - supports very strong project economics, including a US$3.23 post-tax NPV and a 5 year capital payback period over a 63 year project life
- Jindalee’s McDermitt Lithium Project seeks to assist in the development of US critical minerals supply chains to enable America to meet its energy security and electrification goals
- Jindalee’s wholly owned US subsidiary HiTech Minerals has executed a strategic Cooperative Research and Development Agreement (CRADA) with the US Department of Energy (DOE) as part of the DOE’s Critical Materials Innovation (CMI) Hub
- McDermitt is located in the same geological formation and is of similar size and scale to Lithium Americas’ Thacker Pass Project, which is backed by major investments from General Motors and the US Department of Energy and is currently under construction
- McDermitt is eligible for a wide range of government incentives including tax credits, grants and concessional loans. Jindalee is currently progressing a grant application with the Department of Defense to potentially co-fund a feasibility study at McDermitt
- In collaboration with lead engineer Fluor, Jindalee has produced battery grade lithium carbonate from McDermitt’s lithium bearing ore in metallurgical testwork.
- Experienced management team is focused on maximising the potential of Jindalee’s assets.
Key Project
McDermitt Lithium Project Economics
The economic metrics revealed in the PFS paint a compelling picture of the McDermitt Lithium Project's potential:
Production Capacity: The Project is set to produce 1.8 Mt of battery-grade lithium carbonate over its first 40 years, with an annual output forecast of 47,500 tonnes per annum (tpa) in the initial 10 years, and averaging 44,300 tpa over the first 40 years.
Financial Metrics: The Project boasts a post-tax net present value (NPV) of US$3.23 billion at an 8 percent discount rate, with an internal rate of return (IRR) of 17.9 percent. These figures underscore the Project's strong economic viability.
Payback Period: Investors can expect a payback period of less than five years, a relatively short timeframe for a project of this magnitude.
Robust margins: Exceptional EBITDA margins of 66 percent over the first 10 years of operations, with C1 costs in the bottom half of industry and 17 percent pre-tax net operating cashflow margins (including sustaining capital) at current bottom of the cycle spot prices (October 2024 spot of US$10,888/t of lithium carbonate)
Significant future upside. Several opportunities identified in the PFS have potential to significantly enhance returns, which includes process optimisation to reduce opex/capex as well as potential for production of by-products. Additionally, there remains significant optionality to further exploit the ore body, with only ~15 percent of the current resource included in the PFS schedule (on contained metal basis).
The PFS estimates a total project cost of US$3.02 billion, which includes a conservative 21 percent contingency provision estimated on P70 basis (70 percent probability total capital cost will be lower), prepared by US headquartered global engineering and construction firm, Fluor Corporation. This substantial investment is expected to provide the platform for a long life, stable supply of domestically sourced battery grade lithium chemicals, which is expected to be highly attractive to partners in the battery value chain.
Project Overview
The McDermitt Project is located in Malheur County on the Oregon-Nevada border and is approximately 35 kilometres west of the town of McDermitt. The 100-percent-owned asset covers 54.6 square kilometres of claims at the northern end of the McDermitt volcanic caldera.
The Project is characterised by its unique sedimentary lithium deposits, primarily composed of lithium-bearing clays, a geological formation that sets McDermitt apart from many other lithium projects worldwide. This sedimentary nature of the deposit offers several advantages, including:
- Consistent grade distribution throughout the ore body
- Potential for large-scale, low-cost mining operations
- Amenability to environmentally friendly extraction methods
The lithium-rich clays at McDermitt are part of a broader geological context that includes volcanic tuffs and sedimentary rocks. This geological setting is indicative of a complex depositional history, which has resulted in the concentration of lithium in economically viable quantities.
The 2023 mineral resources estimate (MRE) for McDermitt contains a combined indicated and inferred mineral resource inventory of 3 billion tonnes at 1,340 parts per million (ppm) lithium for a total of 21.5 Mt LCE at 1,000 ppm cut-off grade. As part of the PFS, a maiden ore reserve estimate was declared of 251 @1,761 ppm Lithium for 2.34 Mt LCE (representing only ~11 percent of MRE)
Project Highlights:
- Rare Sediment-hosted Lithium Deposits: The McDermitt asset supports low-cost mining operations due to its flat-lying sediments. This type of lithium deposit is amenable to low-cost mining operations, while still producing excellent metallurgical results.
- Low cost mining. Ore is soft, free-digging material, located at surface with a strip ratio of only 1.3 over project life. As a result mining costs are relatively low.
- Fluor recommended processing route: In March 2023, US engineering group Fluor reviewed all testwork undertaken at McDermitt and recommended beneficiation and acid leaching as the optimal processing route (similar to that used by more advanced peers in the region).
- Battery-grade lithium carbonate successfully produced: Process flowsheet was validated through PFS test work program, which produced battery grade lithium carbonate in July 2024. This is an important milestone validating all steps of the processing flowsheet for the Project from ore beneficiation and leaching to purification and production of battery-grade lithium carbonate.
- High metallurgical recovery. PFS test work demonstrated exceptional recoveries through beneficiation and acid leaching steps, with an average metallurgical recovery of 84.4 percent over first 40 years, comparing favourably to industry peers.
Management Team
Ian Rodger - Chief Executive Officer
Ian Rodger is a qualified mining business executive with almost 15 years of experience in various roles including as a mining engineer for Rio Tinto across two large greenfield mine developments, before successfully transitioning into mining corporate finance where he held Executive and Director positions at RFC Ambrian overseeing origination and management of numerous mandates across a range of corporate advisory roles. Ian was the project director for Oz Minerals (ASX:OZL) where he made significant contributions to successfully define the value potential of the West Musgrave nickel/copper province through the delivery of a portfolio of growth studies. Most notably, he led technical, market and partnership development workstreams, successfully confirming value potential for producing an intermediate Nickel product for the battery value chain.
Ian holds a Bachelor of Mining Engineering from the University of Queensland, a Masters of Mineral Economics from Curtin University and is also a graduate of the Australian Institute of Company Directors and member of the Australasian Institute of Mining and Metallurgy.
Lindsay Dudfield - Executive Director
Lindsay Dudfield is a geologist with over 40 years of experience in multi-commodity exploration, primarily within Australia. He held senior positions with the mineral divisions of Amoco and Exxon. In 1987, he became a founding director of Dalrymple Resources NL and spent the following eight years helping acquire and explore Dalrymple’s properties, leading to several greenfield discoveries. In late 1994, Lindsay joined the board of Horizon Mining NL (Jindalee Lithium’s predecessor) and has been responsible for managing Jindalee Lithium since inception. Lindsay is a member of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists, the Geological Society of Australia and the Society of Economic Geologists. He is also a non-executive director of Jindalee spin-out companies Energy Metals (ASX:EME), Dynamic Metals (ASX:DYM) and Alchemy Resources (ASX:ALY).
Wayne Zekulich - Non-executive Chair
Wayne Zekulich was appointed to the board as Chair on 1 February 2024. He holds a Bachelor of Business and is a fellow of the Institute of Chartered Accountants. Zekulich is a consultant and non-executive director who has substantial experience in advising, structuring and financing transactions in the infrastructure and resources sectors. He was previously the head of Rothschild in Perth, chief financial officer of Gindalbie Metals Limited, chief development officer of Oakajee Port and Rail and a consultant to a global investment bank. Currently, he is chair of Pantoro (ASX:PNR) and non-executive director of the Western Australian Treasury Corporation. In the not-for-profit sector, he is the past chair of the Lester Prize and is a mentor in the Kilfinan program.
Darren Wates - Non-executive Director
Darren Wates is a corporate lawyer with over 23 years of experience in equity capital markets, mergers and acquisitions, resources, project acquisitions/divestments and corporate governance gained through private practice and in-house roles in Western Australia. Darren is the founder and principal of Corpex Legal, a Perth-based legal practice providing corporate, commercial and resources related legal services, primarily to small and mid-cap ASX listed companies. In this role, he has provided consulting general counsel services to ASX listed company Neometals (ASX:NMT) since 2016, having previously been employed as legal counsel of Neometals. Darren holds Bachelor's degrees in Law and Commerce and a Graduate Diploma in Applied Finance and Investment.
Paul Brown - Non-executive Director
Paul Brown has over 23 years of experience in the mining industry, most recently with Mineral Resources (ASX:MIN) where he was chief executive – lithium, and chief executive – commodities. Paul has held senior operating roles with Leighton, HWE and Fortescue (ASX:FMG) and has a strong track record in technical leadership, project/studies management, and mine planning and management. Paul is currently CEO of Core Lithium Limited (ASX:CXO). He holds a Master in Mine Engineering.
Brett Marsh - VP Geology and Development (US)
Brett Marsh is an AIPG certified professional geologist and a registered member of the Society for Mining, Metallurgy and Exploration (SME) with over 25 years of diverse mining and geological experience. He has worked for and held senior leadership roles for Kastan Mining, Luna Gold, Kiska Metals, Newmont, Freeport-McMoRan, Phelps Dodge, ASARCO and consulted to deliver numerous NI 43-101 technical reports. Brett has demonstrated the ability to deliver results in culturally diverse and geographically difficult environments, such as Brazil, Peru, Chile, Democratic Republic of Congo, Ghana, Tanzania, Indonesia, Australia, and has also worked in remote areas of Alaska. He has managed all phases of the mining lifecycle including greenfield and brownfield exploration, project development (including preliminary economic assessments, pre-feasibility and feasibility), project construction, mine operations, and environmental. He successfully led multi-cultural teams to develop business processes and implementation plans for many mine development and operational projects.
CleanTech Lithium
Investor Insight
Executing a well-defined project development strategy for its lithium assets and advancing Direct Lithium Extraction (DLE), CleanTech Lithium is poised to become a key player in an expanding batteries market.
Overview
CleanTech Lithium (AIM:CTL,FWB:T2N) is a resource exploration and development company with four lithium assets with an estimated 2.72 million tons (Mt) of lithium carbonate equivalent (LCE) in Chile, a world-renowned mining-friendly jurisdiction. The company aims to be a leading supplier of ‘green lithium’ to the electric vehicle (EV) market, leveraging direct lithium extraction (DLE) – a low-impact, low-carbon and low-water method of extracting lithium from brine.
Lithium demand is soaring as a result of a rapidly expanding EV market. One study estimates the world needs 2 billion EVs on the road to meet global net-zero goals. Yet, the gap between supply and demand continues to widen. As the world races to secure new supplies of critical minerals, Chile has emerged as an ideal investment jurisdiction with mining-friendly regulations and a skilled local workforce to drive towards a clean green economy. Chile is already the biggest supplier of copper and second largest supplier of lithium.
With an experienced team in natural resources, CleanTech Lithium holds itself accountable to a responsible ESG-led approach, a critical advantage for governments and major car manufacturers looking to secure a cleaner supply chain.
Laguna Verde is at pre-feasibility study stage targeted to be in ramp-up production from 2027. Laguna Verde has a JORC resource estimate of 1.8 Mt of lithium carbonate equivalent (LCE) while Viento Andino boasts 0.92 Mt LCE, each supporting 20,000 tons per annum (tpa) production with a 30-year and 12-year mine life, respectively. The latest drilling programme at Laguna Verde finished in June 2024, results from which will be used to convert resources into reserves.
The lead project, Laguna Verde, will be developed first, after which Veinto Andino will follow suit using the design and experience gained from Laguna Verde, as the company works towards its goal of becoming a significant green lithium producer serving the EV market.
The company is carrying out the necessary environmental impact assessments in partnership with the local communities. The indigenous communities will provide valuable data that will be included in the assessments. The Company has signed agreements with the three of core communities to support the project development.
DLE Pilot Plant Inauguration event held in May 2024 with local stakeholders and indigenous communities in attendance
The company also has two prospective exploration assets - the Llamara project and Salar de Atacama/Arenas Blancas project. Llamara project is a greenfield asset in the Antofagasta region and is around 600 kilometers north of Laguna Verde and Veinto Andino. The project is located in the Pampa del Tamarugal basin, one of the largest basins in the Lithium Triangle.
Salar de Atacama/Arenas Blancas comprises 140 licenses covering 377 sq km in the Salar de Atacama basin, one of the leading lithium-producing regions in the world with proven mineable deposits of 9.2 Mt.
CleanTech Lithium is committed to an ESG-led approach to its strategy and supporting its downstream partners looking to secure a cleaner supply chain. In line with this, the company plans to use renewable energy and the eco-friendly DLE process across its projects. DLE is considered an efficient option for lithium brine extraction that makes the least environmental impact, with no use of evaporation ponds, no carbon-intensive processes and reduced levels of water consumption. In recognition, Chile’s government plans to prioritize DLE for all new lithium projects in the country.
CleanTech Lithium’s pilot DLE plant in Copiapó was commissioned in the first quarter of 2024. To date, the company has completed the first stage of production from the DLE pilot plant producing an initial volume of 88 cubic metres of concentrated eluate – the lithium carbonate equivalent (LCE) of approximately one tonne over an operating period of 384 hours with 14 cycles. Results show the DLE adsorbent achieved a lithium recovery rate of approximately 95 percent from the brine, with total recovery (adsorption plus desorption) achieving approximately 88 percent. The Company’s downstream conversion process is successfully producing pilot-scale samples of lithium carbonate . As of January 2025, the Company is producing lithium carbonate from Laguna Verde concentrated eluate at the downstream pilot plant - recently proven to be high purity (99.78 percent). Click for highlights video.
CTL’s experienced management team, with expertise throughout the natural resources industry, leads the company toward its goal of producing green lithium for the EV market. Expertise includes geology, lithium extraction engineering and corporate administration.
Company Highlights
- CleanTech Lithium is a lithium exploration and development company with four notable lithium projects in Chile and a combined total resource of 2.72 million tonnes JORC estimate of lithium carbonate equivalent.
- Chile is one of the biggest producers of lithium carbonate in the world and the Chilean Government has prioritized innovative technologies such as DLE for new project development
- The Company leverages DLE, an efficient method for extracting lithium brine that aims to minimize environmental impact, reduce production time and costs, resulting in high-purity, battery-grade lithium carbonate
- The Company is targeting a dual-listing on the ASX in Q1 2025.
- CleanTech Lithium’s flagship project, Laguna Verde is at the Pre-Feasibility Stage, once completed, the Company looks to start substantive conversations with strategic partners.
- The Company has an operational DLE pilot plant in Copiapó, Chile producing an initial volume of 88 cubic meters of concentrated eluate, which is the lithium carbonate equivalent (LCE) of approx. one tonne, proving the Company’s capacity to produce battery-grade lithium with low impurities from its Laguna Verde brine project.
- In January 2025, the Company announced to the market the production of high purity lithium carbonate (99.78%)
- The Board consists of the former CEO of Collahuasi, the largest copper mine in the world, having held senior roles at Rio Tinto and BHP. In-country experience developing major commercial projects runs throughout the team.
- CleanTech Lithium’s operations are underpinned by an established ESG-focused approach - a critical priority for governments introducing regulations that require a cleaner supply chain to reach net-zero targets.
Key Projects
Laguna Verde Lithium Project
The 217 sq km Laguna Verde project features a sq km hypersaline lake at the low point of the basin with a large sub-surface aquifer ideal for DLE. Laguna Verde is the company’s most advanced asset.
Project Highlights:
- Prolific JORC-compliant Resource Estimate: As of July 2023, the asset has a JORC-compliant resource estimate of 1.8 Mt of LCE at a grade of 200 mg/L lithium.
- Environmentally Friendly Extraction: The company’s asset is amenable to DLE. Instead of sending lithium brine to evaporation ponds, DLE uses a unique process where resin extracts lithium from brine, and then re-injects the brine back into the aquifer, with minimal depletion of the resources. The DLE process reduces the impact on environment, water consumption levels and production time compared with evaporation ponds and hard-rock mining methods.
- DLE Pilot Plant: The pilot DLE plant in Copiapó, commissioned in the first quarter of 2024, has produced an initial volume of 88 cubic metres of concentrated eluate, which is the lithium carbonate equivalent (LCE) of approximately one tonne further confirming the company’s capacity to produce battery-grade lithium with low impurities from its Laguna Verde brine project.
- Scoping Study: Scoping study completed in January 2023 indicated a production of 20,000 tons per annum LCE and an operational life of 30 years. Highlights of the study also includes:
- Total revenues of US$6.3 billion
- IRR of 45.1 percent and post-tax NPV8 of US$1.8 billion
- Net cash flow of US$215 million
Viento Andino Lithium Project
CleanTech Lithium’s second-most advanced asset covers 127 square kilometers and is located within 100 km of Laguna Verde, with a current resource estimate of 0.92 Mt of LCE, including an indicated resource of 0.44 Mt LCE. The company’s planned second drill campaign aims to extend known deposits further.
Project Highlights:
- 2022 Lithium Discovery: Recently completed brine samples from the initial drill campaign indicate an average lithium grade of 305 mg/L.
- JORC-compliant Estimate: The inferred resource estimate was recently upgraded from 0.5 Mt to 0.92 Mt of LCE at an average grade of 207 mg/L lithium, which now includes 0.44 million tonnes at an average grade of 221 mg/L lithium in the indicated category.
- Scoping Study: A scoping study was completed in September 2023 indicating a production of up to 20,000 tons per annum LCE for an operational life of more than 12 years. Other highlights include:
- Net revenues of US$2.5 billion
- IRR of 43.5 percent and post-tax NPV 8 of US$1.1 billion
- Additional Drilling: Once drilling at Laguna Verde is completed in 2024, CleanTech Lithium plans to commence further drilling at Viento Andino for a potential resource upgrade.
Llamara Lithium Project
The Llamara project is one of the largest greenfield basins in the Lithium Triangle, covering 605 square kilometers in the Pampa del Tamarugal, one of the largest basins in the Lithium Triangle. Historical exploration results indicate blue-sky potential, prompting the company to pursue additional exploration.
Project Highlights:
- Promising Historical Exploration: The asset has never been drilled; however, salt crust surface samples indicate up to 3,100 parts per million lithium. Additionally, historical geophysics lines indicate a large hypersaline aquifer. Both of these exploration results indicate potential for significant future discoveries.
- Close Proximity to Existing Operations: The Llamara project is near other known deposits:
Arenas Blancas
The project comprises 140 licences covering 377 sq km in the Salar de Atacama basin, a known lithium region with proven mineable deposits of 9.2 Mt and home to two of the world’s leading battery-grade lithium producers SQM and Albermarle. Following the granting of the exploration licences in 2024, the Cleantech Lithium is designing a work programme for the project
The Board
Steve Kesler - Executive Chairman
Steve Kesler has 45 years of executive and board roles experience in the mining sector across all major capital markets including AIM. Direct lithium experience as CEO/director of European Lithium and Chile experience with Escondida and as the first CEO of Collahuasi, previously held senior roles at Rio Tinto and BHP.
Ignacio Mehech – CEO and Director
Ignacio Mehech brings over a decade of senior leadership experience in the lithium and mining sectors. During his seven-year tenure at Albemarle—the world’s largest producer of battery-grade lithium—he spent the last three years as Country Manager in Chile, overseeing a workforce of 1,100 and managing critical relationships with government, indigenous communities, and other key stakeholders. Mehech brings deep expertise in lithium project development, regulatory engagement, and sustainability. He has led high-profile engagements with global investors, customers, NGOs, analysts, scientists, and international governments. He also played a key leadership role in the El Abra copper operation—a joint venture between Codelco and Freeport-McMoRan—where he led the legal strategy and contributed to corporate transformation initiatives. Mehech holds a law degree from the Universidad de Chile and a Master’s in Energy and Resources Law from the University of Melbourne.
Gordon Stein - Chief Financial Officer
Gordon Stein is a commercial CFO with over 30 years of expertise in the energy, natural resources and other sectors in both executive and non-executive director roles. As a chartered accountant, he has worked with start-ups to major companies, including board roles of six LSE companies.
Maha Daoudi - Independent Non-executive Director
Maha Daoudi has more than 20 years of experience holding several Board and senior-level positions across commodities, energy transition, finance and tech-related industries, including a senior role with leading commodity trader, Trafigura. Daoudi holds expertise in offtake agreements, developing international alliances and forming strategic partnerships.
Tommy McKeith - Independent Non-executive Director
Tommy McKeith is an experienced public company director and geologist with over 30 years of mining company leadership, corporate development, project development and exploration experience. He's held roles in an international mining company and across several ASX-listed mining companies. McKeith currently serves as non-executive director of Evolution Mining and as non-executive chairman of Arrow Minerals. Having worked in bulk, base and precious metals across numerous jurisdictions, including operations in Canada, Africa, South America and Australia, McKeith brings strategic insights to CTL with a strong focus on value creation.
Jonathan Morley-Kirk - Senior Independent Non-executive Director
Jonathan Morley-Kirk brings 30 years of experience, including 17 years in non-executive director roles with expertise in financial controls, audit, remuneration, capital raisings and taxation/structuring.
American Salars: Building a Diversified Portfolio of Lithium Assets Across the Americas
American Salars Lithium (CSE:USLI,OTC:USLIF, FWB:Z3P) is an exploration-stage company dedicated to acquiring, developing, and monetizing lithium brine projects across the Americas. With a clear focus on low-cost entry and scalable resource expansion, the company is executing a disciplined strategy to build a high-quality portfolio in strategic jurisdictions.
Central to American Salars’ vision is the conviction that lithium demand—driven by the accelerating adoption of electric vehicles and the rise of stationary energy storage solutions—is poised for significant long-term growth. The company is strategically positioning itself to capitalize on this trend, targeting assets with strong appeal to major producers and institutional investors.
Salar de PocitosSalar de Pocitos is the flagship asset of American Salars Lithium, situated in Argentina’s lithium-rich Puna region within Salta Province. The Pocitos 1 block spans 800 hectares and has shown strong lithium brine potential through historical drilling and testing. While a 760,000-ton inferred lithium carbonate equivalent (LCE) resource was previously reported for the area—including Pocitos 2, which is not owned by American Salars—all contributing drill holes for that estimate were located within Pocitos 1, where the company holds 100 percent ownership.
Drilling at Pocitos 1 has encountered aquifers at depths between 365 and 407 meters, with lithium concentrations reaching up to 169 parts per million (ppm). Sustained brine flow rates were recorded for over five hours, and porosity tests on core samples returned strong results, ranging from 6 to 14 percent, further underscoring the project’s potential.
Company Highlights
- American Salars Lithium is taking advantage of depressed lithium prices to acquire undervalued assets with long-term scalability and world-class exit potential. The company targets assets with clear upside potential, particularly in brine-rich jurisdictions like Argentina and Nevada.
- The company’s holdings include four lithium projects: Salar de Pocitos (Argentina), Black Rock South (Nevada, USA), Jaguaribe Pegmatite (Brazil), and the Quebec Lithium Portfolio (Canada).
- Located in the Lithium Triangle of Salta, Argentina, the flagship Pocitos 1 is an 800-hectare brine project shares a 760,000-tonne inferred lithium carbonate equivalent (LCE) resource and excellent expansion potential.
- Brine-based lithium resources offer lower environmental impact, faster resource delineation, and reduced development costs compared to hard rock alternatives.
- Several of the company’s team members have been involved in multi-million-dollar lithium asset sales. Recent deals in the region (e.g., Alpha Lithium, Neo Lithium, Arcadium) provide a roadmap for monetization.
This American Salars Lithium profile is part of a paid investor education campaign.*
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Appointment of CEO and Director
CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, is pleased to announce the appointment of Ignacio Mehech, former Country Manager of Albemarle in Chile, as the Chief Executive Officer ("CEO") and director of CleanTech Lithium.
Click link to watch interview with Ignacio Mehech: https://youtu.be/4iMx2vIZw9g
Highlights:
· Mr Mehech spent seven years up to 2024 at Albemarle with the last three years as Country Manager in Chile, managing a workforce of 1,100 employees and key stakeholder relationships, including Government and indigenous communities
· Albemarle is the world's largest producer of battery grade lithium with Chile accounting for 30 - 40% of its production*
· Native to Chile, Spanish speaking and fluent in English, Mr Mehech has deep leadership and project development experience in lithium production
· Managed high profile engagements with investors, customers, NGOs, analysts, scientists and international government representatives
· Before Albemarle, Mr Mehech led the legal strategy for the El Abra copper operation in Chile, a joint venture with Codelco, and leading US mining company Freeport McMoRan
· Throughout his career Mr Mehech has led profound transformations in organisations to generate sustainable value
· Mr Mehech holds a law degree from the Universidad de Chile and a master's degree in Energy and Resources Law from the University of Melbourne, Australia.
Ignacio Mehech, Chief Executive Officer, CleanTech Lithium PLC said:
"I've been following CleanTech Lithium's progress in Chile for the past couple of years and have been impressed at the progress that has been achieved, with the Company being one of the most active in Chile in seeking to develop a more sustainable means of producing lithium from Chile's abundant brine resources.
I'm truly excited to take on the role as CEO to advance CleanTech's Laguna Verde project and the other business opportunities in Chile. The immediate focus is entering direct negotiations with the Chilean government and progressing the CEOL application for Laguna Verde and delivering the Pre-Feasibility Study to initiate strategic partner conversations. I look forward to leading CleanTech Lithium's project development alongside a dedicated team and to deliver value to all our stakeholders whilst supporting the ambitions of Chile's National Lithium Strategy."
Steve Kesler, Executive Chairman, CleanTech Lithium PLC, said:
"We are delighted that Ignacio has agreed to join us as CEO. His experience in Chile is invaluable, having been Country Manager for leading lithium producer Albemarle, and working on the EL Abra copper mine in Chile for US mining giant Freeport McMoRan. Ignacio joins CleanTech at a crucial point in our development and his significant experience will be instrumental in leading our Laguna Verde project into the next phase."
"I will continue in my role as Executive Chairman intending to move back to being the Company's Non-Executive Chairman when our Board believes the time is right. I look forward to working with Ignacio and remain confident in the long-term potential of CleanTech Lithium."
Figure 1: Ignacio Mehech (centre) participating in a panel discussion at the Future Mining and Energy Congress in Santiago, Chile October 2023. Photo credit: Future Mining and Energy Congress
Background on Ignacio Mehech
During his tenure at Albemarle, a US-listed company with a current market cap of around US$6 billion as of 8th April 2025, Mr Mehech played a pivotal role in driving production growth, strategic negotiations, and sustainability initiatives, significantly impacting Albemarle's operations in Chile and the broader region. Since 2015, Chile has been Albemarle's largest single operation - depending on market prices - accounting for 30 to 40% of its global production.
A landmark achievement under his guidance was securing the first-ever IRMA (Initiative for Responsible Mining Assurance) certification for a lithium operation worldwide at the Salar de Atacama plant-a testament to his commitment to environmental and social responsibility.
Previously to Albemarle, Mr Mehech has worked as a legal manager at Freeport-McMoRan, one of the largest copper and molybdenum producers in the world, with multiple assets around the globe. In Chile, it operates SCM El Abra, a joint venture with Codelco, located in Calama and where Mr Mehech was responsible for developing and leading the legal strategy for the business, assuring operational continuity, building relationships with regional authorities, indigenous and non-indigenous communities.
Ignacio Mehech Castellon, aged 42, has held the following directorships and/or partnerships in the past 5 years:
Current | Past |
Cobreloa SADP | Fundacion Chilena Del Pacifico Club Sirio Unido UN Global Compact, Chilean Chapter |
Mr Mehech currently holds no ordinary shares or other securities in the Company.
There is no further information on Ignacio Mehech required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.
*Statistic taken October 2024 – Albemarle is the world’s largest lithium producer – Mining.com https://www.mining.com/web/ranking-the-worlds-top-lithium-producers/
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.
For further information contact: | |
CleanTech Lithium PLC | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
Or via Celicourt | |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage project in Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production.
The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All three projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction ("DLE") with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. For more information, please visit: www.ctlithium.com
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This article includes content from Cleantech Lithium PLC, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
American Salars Lithium
Investor Insight
American Salars Lithium’s strategic focus on scalable, brine-based lithium projects in Tier 1 jurisdictions makes it a compelling investment opportunity, poised to become a leading consolidator of lithium salars globally.
Overview
American Salars Lithium (CSE:USLI,OTC:USLIF,FWB:Z3P) is an exploration-stage company focused on acquiring, developing and monetizing lithium brine projects across the Americas. With a strong emphasis on low-cost entry and resource expansion, the company is executing a disciplined strategy to build a portfolio of scalable assets in highly strategic jurisdictions.
Salar de Pocitos
At the core of American Salars’ strategy is the belief that lithium demand—driven by both electric vehicles and emerging stationary storage applications—will surge in the coming years. The company is positioning itself now to benefit from a long-term price recovery, focusing on assets that are attractive to major producers and investors.
Unlike many junior miners that pivot with market fads, American Salars has remained laser-focused on lithium since inception. The company is not built for short-term trading but for long-term investors seeking exposure to a growing portfolio of lithium salars with eventual exit potential.
American Salars is executing a focused, value-driven strategy designed to maximize returns for shareholders through disciplined asset acquisition, resource growth and positioning for future monetization. The company’s approach to lithium investing involves acquiring undervalued assets during market downturns with the objective of capitalizing on future price recoveries. This opportunistic acquisition model allows the company to secure high-potential projects at low entry costs while minimizing dilution and preserving capital.
The company prioritizes lithium brine projects due to their lower development costs, faster resource delineation, and smaller environmental footprint. Its assets provide a foundation for scalable resource development through targeted drilling, advanced aquifer modeling, and ongoing environmental permitting. By focusing on brines, American Salars can efficiently build a strong, technically de-risked project pipeline with lower exploration overhead. Ultimately, American Salars is building its portfolio with a clear path to strategic exits.
Company Highlights
- American Salars Lithium is taking advantage of depressed lithium prices to acquire undervalued assets with long-term scalability and world-class exit potential. The company targets assets with clear upside potential, particularly in brine-rich jurisdictions like Argentina and Nevada.
- The company’s holdings include four lithium projects: Salar de Pocitos (Argentina), Black Rock South (Nevada, USA), Jaguaribe Pegmatite (Brazil), and the Quebec Lithium Portfolio (Canada).
- Located in the Lithium Triangle of Salta, Argentina, the flagship Pocitos 1 is an 800-hectare brine project shares a 760,000-tonne inferred lithium carbonate equivalent (LCE) resource and excellent expansion potential.
- Brine-based lithium resources offer lower environmental impact, faster resource delineation, and reduced development costs compared to hard rock alternatives.
- Several of the company’s team members have been involved in multi-million-dollar lithium asset sales. Recent deals in the region (e.g., Alpha Lithium, Neo Lithium, Arcadium) provide a roadmap for monetization.
Key Projects
Salar de Pocitos
Salar de Pocitos is American Salars Lithium’s flagship asset, located in Argentina’s lithium-rich Puna region in Salta Province. The Pocitos 1 block covers 800 hectares and has demonstrated significant brine potential through past drilling and testing campaigns. The property shares a 760,000-ton inferred lithium carbonate equivalent (LCE) resource, though it's important to note that this resource estimate was derived from earlier drilling and included Pocitos 2, which American Salars does not own. However, all drill holes contributing to that estimate were located within Pocitos 1, where the company holds 100 percent ownership. Drilling has intersected aquifers at depths ranging between 365 to 407 meters, with lithium concentrations up to 169 parts per million (ppm). Notably, strong brine flow rates were sustained for over five hours, and core sample porosity tests returned excellent values between 6 percent and 14 percent.
Ekosolve pilot plant testing on brines from Pocitos 1 produced lithium carbonate at 99.89 percent purity with recovery rates of 94.9 percent, confirming the extractive potential of the salar. The project’s high lithium concentrations within a compact footprint present compelling scalability potential, and American Salars is actively pursuing an expanded land position to increase its overall brine resource base. Environmental baseline studies are underway in preparation for a future production scenario. An updated NI 43-101 compliant resource estimate is also anticipated as part of the company’s near-term development strategy.
With strong local partnerships and a seasoned team of lithium veterans on the ground, Pocitos stands out as one of the most promising early-stage brine assets in Argentina. The Company signed a letter of intent on March 3rd 2025 to acquire an additional 13,080 hectares on the salar.
Black Rock South
The Black Rock South project is located in the Black Rock Desert basin in Nevada, USA. The Black Rock Desert region is known for geothermal activity and proximity to established lithium operations, such as Albemarle’s Silver Peak Mine—the only currently producing lithium brine operation in North America. American Salars’ property is strategically situated just 72 miles north of Tesla’s Gigafactory and 93 miles southwest of Thacker Pass, placing it in a geopolitically important supply zone for US battery manufacturing.
The project consists of a large sedimentary basin with known geothermal activity, indicating the potential for a brine-hosted lithium aquifer at depth. A 2024 soil sampling program returned 33 of 38 samples with lithium values above 100 ppm, including a peak of 180.5 ppm and an average of 131 ppm. These values trended in a northeast direction, suggesting structural controls that could host lithium-enriched aquifers.
An NI 43-101 report has been completed, and the company is now evaluating geophysical programs and structural modeling to define high-certainty drill targets. Depths to target aquifers are anticipated to be 800 to 1,000 meters, requiring significant capital investment. To address water usage concerns, the company is exploring the use of direct lithium extraction (DLE) technologies, which offer lower environmental impact by returning processed water to the aquifer.
Jaguaribe
Located in the northern coastal state of Ceará, Brazil, the Jaguaribe project spans 18,083 hectares and targets lithium-bearing LCT (lithium-cesium-tantalum) pegmatites. This historically artisanal mining district has previously produced lithium, coltan (niobium-tantalum) and tin. Recent Phase 1 surface exploration by American Salars identified multiple wide pegmatite dykes of up to 30 meters in width and 300 meters in length, indicating a robust and laterally continuous system.
Initial geochemical assays returned lithium oxide grades of up to 3.72 percent, 2.15 percent and 1.58 percent, alongside notable concentrations of cesium (554.5 ppm), tantalum (135 ppm) and niobium (177 ppm). These high-grade surface samples confirm Jaguaribe’s potential as a high-impact, hard-rock lithium project in a jurisdiction with favorable mining laws and growing lithium sector interest. The company plans to conduct detailed mapping, channel sampling and geophysical surveys to define drill-ready targets. The scale, grade and historic mining context make Jaguaribe American Salars’ top-ranked hard rock project.
Quebec Lithium Portfolio
American Salars controls three hard rock lithium exploration properties in Quebec, Canada: Xenia West & East, Lac Simard South, and Leduc East, together totaling over 11,500 hectares. These properties are located in proximity to well-known lithium districts, including Sayona Mining's and Brunswick Exploration’s land holdings. The Xenia projects, comprising 92 claims (5,382 ha), are located 30 km southeast of Val-d’Or and lie within the Pontiac Geological Subprovince, known for its lithium-rich pegmatites.
Lac Simard South, spanning 80 km southwest of Sayona’s Authier project, is accessible via gravel roads and logging routes, and offers excellent infrastructure for exploration and future development. Leduc East, a 6,100-hectare block north of Gatineau, is the most recently acquired and sits in a highly prospective greenstone belt. While these assets are still in early-stage development, they offer extensive historic pegmatite mapping, cost-effective acquisition history, and multiple targets identified from legacy data.
The company plans to execute low-cost sampling and reconnaissance work in the near term to add value and keep the claims in good standing. Given the surge in M&A activity across Quebec’s lithium belt, this portfolio offers substantial optionality.
Management Team
Nick Horsley – President, CEO and Director
Nicke Horsley has more than 19 years of experience in public markets, M&A and resource development. He is the founder of American Salars and is deeply aligned with shareholders.
Christopher Cooper – Director
Christopher Cooper is a former director at Alpha Lithium, which was acquired for over $300 million. He has extensive experience in lithium exits and corporate development.
Rodney Campbell – Director
Rodney Campbell has extensive experience in oil and gas and capital markets, with strong institutional connections.
Daryn Gordon – CFO
Daryn Gordon is an experienced chief financial officer with more than 20 years in audit and financial services, specializing in Canadian junior mining companies.
David Guerrero – Argentina Advisor
David Guerrero is the former country manager for Alpha Lithium. He has deep in-country expertise in Argentina and extensive lithium development experience.
Phillip Thomas – Qualified Person (Argentina)
Phillip Thomas has over 20 years’ experience in lithium brine geology. He was previously involved with Rincon, Pozuelos and other major Argentine salars.
William Feyerabend – Qualified Person (Nevada)
William Feyerabend is an expert in lithium exploration and technical reports across Nevada and Latin America.
Mitchell Lavery – Qualified Person (Quebec)
Mitchell Lavery is a veteran geologist with over 40 years of experience across gold, base metals and lithium in Canada.
