The Conversation (0)
Nevada Lithium Resources Inc. (CSE: NVLH; OTCQB: NVLHF; FSE: 87K) (“Nevada Lithium” or the “Company”) is pleased to provide an updated mineral resource estimate (“Mineral Resource Estimate”) at its 100% owned Bonnie Claire Lithium Project (the “Project” or “Bonnie Claire”), located in Nye County, Nevada. The Mineral Resource Estimate was prepared by Global Resource Engineering (“GRE”) in accordance with Canadian Institute of Mining and Metallurgy and Petroleum (“CIM”) definitions, as required under National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) and has an effective date of September 24, 2024. Most notably, the Lower Zone (as defined below) gives an indicated resource of 275.85 million tonnes (“Mt”) at 3,519 parts per million (“ppm”) lithium (“Li”) (5.167 Mt lithium carbonate equivalent (“LCE”)) and 275.85 Mt at 8,404 ppm boron (“B”) (2.318 Mt B), together with an inferred resource of 1,561.06 Mt at 3,085ppm lithium (25.634 Mt LCE).
Nevada Lithium’s CEO, Stephen Rentschler, comments:
“We are excited to announce the impact of the new drilling in the Lower Zone of mineralized lithium and boron at Bonnie Claire. With the significantly increased tonnage and higher grades, Bonnie Claire is potentially unrivaled by other sediment hosted lithium projects in Nevada and is now amongst the largest lithium resources in the world and amongst the highest-grade in Nevada.
Compared to Bonnie Claire’s previous resource report, the new drilling in the Lower Zone has led to a 68% increase in LCE tonnage, at an average grade that has tripled from 1,000 ppm to over 3,000 ppm. It includes intervals where grades exceed 6,000ppm. These increases have occurred using a cut-off grade that has more than doubled to 1,800 ppm. For the first time, we are also able to report a significant high-grade boron resource that we believe further enhances the Project’s value.
The Lower Zone remains open to the NW, NE and SE, for future resource expansion. Furthermore, the new infill drilling has resulted in an indicated resource classification. We are confident that the continuity of the mineralization will allow us to easily upgrade additional resources from the inferred classification into indicated resources and add new inferred resources.
The results from this report will feed directly into ongoing work on an updated Preliminary Economic Assessment (“PEA”) that we are targeting for completion at the end of Q1 2025. This PEA will reflect the increased tonnages and grades reported today. The PEA will also include the metallurgical processes currently being developed by Fluor Enterprises Inc., as reported in our news release dated October 23, 2024.
I would like to offer my congratulations and thanks to Nevada Lithium’s technical team for this tremendous success. Their dedication and vision has led to results that are of global significance and, in my opinion, will lead to future increases in shareholder value.”
Highlights:
- Resources for the deposit have been separated into two zones; a Lower Zone (i.e., mineralization hosted by Lower Claystone and Lower Sandstone units) (the “Lower Zone”) and an Upper Zone (i.e., mineralization hosted by an Upper Claystone unit) (the “Upper Zone”).
- The updated Mineral Resource Estimate includes assays from eleven (11) additional exploration and infill drill holes completed since the 2021 maiden resource estimate. 2023 & 2024 drilling intersected the lower claystone which hosts the high grade (up to 7,160ppm) lithium, and which remains open in three directions. It is reasonably expected that the bulk of inferred resources can be upgraded to indicated through additional infill drilling.
- The Lower Zone gives an indicated resource of 275.85 Mt at 3,519 ppm lithium (5.167 Mt LCE) and 275.85 Mt at 8,404 ppm Boron (2.318 Mt B), together with an inferred resource of 1,561.06 Mt at 3,085ppm lithium (25.634 Mt LCE). This base-case resource is based on a 1,800ppm lithium cutoff, constrained by hydraulic borehole mining (“HBHM”) parameters, and an assumed 60% recovery of the host strata.
- The Upper Zone gives an indicated resource of 188.08 Mt at 1,074 ppm lithium (1.075 Mt LCE) and 152.11 Mt at 1,519 ppm boron (0.231 Mt B), together with an inferred resource of 451.10 Mt at 1,106 ppm lithium (2.655 Mt LCE) and 270.53 Mt at 1,505 ppm boron (0.407 Mt B). This resource is calculated at a 900 ppm lithium cut-off, within a constraining pit shell, and would be mined by conventional open-pit methods
- The 60% HBHM recovery is based purely on a cylindrical cavity and does not account for any improved recoveries from the expected plastic deformation of the deep zone material.
- The updated Mineral Resource Estimate will be included into ongoing work on an updated PEA expected for completion at the end of Q1 2025.
Join Stephen Rentschler, CEO of Nevada Lithium for a LIVE virtual event
to learn more about the Company’s findings and ask questions during the interactive Q&A.
Date and time: Tuesday, November 19th at 1 pm ET / 10 am PT
to learn more about the Company’s findings and ask questions during the interactive Q&A.
Date and time: Tuesday, November 19th at 1 pm ET / 10 am PT
Results and Interpretation
Bonnie Claire consists of a sedimentary package of volcaniclastic origin, laid down in a NW-SE basin striking basin. Lithium and boron mineralization are located within an Upper Zone, hosted within an upper claystone unit encountered by drilling from surface to about 425 ft (130m), and a Lower Zone, hosted within lower claystone and lower sandstone units intersected from 1,500-2,850ft (457-853m). Lithium mineralization appears to be hosted within non-swelling clay phases such as illite, or as lithium carbonate or salt within the sedimentary matrix. Boron mineralization appears to be associated with searlesite, a sodium borosilicate mineral.
While the Upper Zone and Lower Zones exhibit lithium and boron mineralization, they are separated spatially, and exhibit differences in metallurgical behaviour, leading the Company to treat them as two distinct deposits with different mining methods.
Lower Zone
While early exploration concentrated on mineralization in the Upper Zone, the Company has shifted its focus to mineralization in the Lower Zone, hosted in the lower claystone and sandstone units and containing the bulk of lithium and boron. This Lower Zone remains open to the NW, NE and SE. The current plan is to use an underground HBHM method, with a higher 1,800ppm cut-off. The Mineral Resource Estimate for the Lower Zone is presented in Table 1-1 and the sensitivity of the Lower Zone to cutoff grade is presented in Table 1-2.
Table 1-1: Bonnie Claire Lower Zone Mineral Resource Estimate With 60% Hydraulic Borehole Mining Recovery
- The effective date of the Mineral Resource Estimate is September 24, 2024.
- The Qualified Person (as such term is defined in NI 43-101) for the estimate is Terre Lane of GRE.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Mineral resources are reported at an 1,800 ppm Li cutoff, an assumed lithium carbonate (Li2CO3) price of $20,000/tonne, 5.323 tonnes of Li2CO3 per tonne Li.
- Numbers in the table have been rounded to reflect the accuracy of the estimate and may not sum due to rounding.
Table 1-2: Bonnie Claire Lower Zone Resource Estimate Sensitivity to Cutoff Grade With 60% Hydraulic Borehole Mining Recovery
Upper Zone
The Upper Zone extends from surface to about 425ft (130m) depth and would be mined by conventional open-pit methods, reflected in a lower 900 ppm cutoff. The Mineral Resource Estimate for the Upper Zone is presented in Table 1-3, and the Upper Zone sensitivity to cutoff grade is presented in Table 1.4
Table 1-3: Bonnie Claire Upper Zone Mineral Resource Estimate Within a Constraining Pit Shell
- The effective date of the Mineral Resource Estimate is September 24, 2024.
- The Qualified Person for the estimate is Terre Lane of GRE.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Mineral Resources are reported at a 900 ppm Li cutoff, an assumed lithium carbonate (Li2CO3) price of $20,000/tonne, 5.323 tonnes of Li2CO3 per tonne Li, 75% recovery, a slope angle of 18 degrees, no royalty, processing and general and administrative cost of $26.52/tonne, mining cost of $3.52/tonne, and selling costs of $100/tonne Li2CO3.
- Numbers in the table have been rounded to reflect the accuracy of the estimate and may not sum due to rounding.
Table 1.4: Bonnie Claire Upper Zone Resource Estimate Sensitivity to Cutoff Grade Within a Constraining Pit Shell
Cautionary Statements Regarding Mineral Resource Estimates:
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. Inferred mineral resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. It is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.
Resource Estimation Parameters
The updated Mineral Resource Estimate for Bonnie Claire was performed using Leapfrog® Geo and Leapfrog® Edge software. Leapfrog® Geo was used to update the geologic model, and Leapfrog® Edge was used for geostatistical analysis and grade modeling in the block model. An oblique view of the block model at Bonnie Claire is illustrated by Figure 1.1
Figure 1.1: Oblique view from southwest of block model for Bonnie Claire generated by Leapfrog® Edge software. Lithium ppm legend to right.
The drill hole database used for the estimation included:
- 21 exploration drill holes, including 8 reverse circulation holes and 11 vertical diamond core holes
- 9,159.54 meters of drilling in exploration drill holes
- 1,898 assay intervals in exploration drill holes
- Minimum grade of 18 ppm Li in exploration drill holes
- Maximum grade of 7,160 ppm Li in exploration drill holes
Cumulative probability plots of lithium and boron assay values did not exhibit grade breaks that would indicate the presence of outlier data, so the data were not capped or clipped. A specific gravity of 1.7 grams per cubic centimeter (g/cm3) for all lithological units, comparable to other similar lithium deposits. Drill hole assay values were composited to intervals of equal length to ensure that the samples used in statistical analysis and estimations were equally weighted. The majority of samples were collected at 6.096-meter (20-foot) intervals, with some samples collected at other intervals up to a maximum of 12.192 meters (40 feet). Down-the-hole composites were created from the Li and B assays within upper claystone, lower claystone, and lower sandstone mineralized domains, with the following specifications: 6.096-meter (20-foot) intervals, with anything less than 3.048 meters (10 feet) added to the previous interval. This resulted in 1,313 Li composite intervals with Li grades from 40.37 ppm to 5,764.48 ppm and 857 B composite intervals with B grades from 10 ppm to 14,658.8 ppm.
Qualified Person Terre Lane estimated Li and B grades into the block model using inverse distance to the second power (“ID2”) and for each method, a single pass was conducted at the ellipsoid ranges (1,600 meters x 900 meters x 150 meters). All blocks with modeled grade were coded as inferred resources. The search was restricted to a minimum of four samples and a maximum of 12 samples per block and a maximum of three samples per drill hole, thereby requiring data from a minimum of two drill holes to populate a block. For statistical comparison, nearest neighbor (“NN”) and ordinary kriging (“OK”) models were run to serve as comparisons with the estimated results from the ID2 method. The estimate means for the global population as well as the means for the estimation domains are similar, suggesting the ID2 estimate is not biased or overestimating the grades. The reduction in mean, coefficient of variation, and maximum from composites to the ID2 estimate shows an appropriate amount of smoothing. Swath plots and visual comparison of composites versus block model values by section and plan show good correlation.
Mining Methods
Hydraulic Borehole Mining of Lower Zone
As disclosed in their April 16, 2024, news release, Nevada Lithium contracted Kinley Exploration LLC (“Kinley”) to provide a preliminary evaluation of HBHM for Bonnie Claire.
Kinley was asked to establish a reasonable and economic mining strategy utilizing HBHM within the Bonnie Claire Lithium resource deposit to extract lithium in a continuous, efficient, cost effective and safe manner in the targeted higher grade zone from 1,500-2,800ft (457-853m) deep.
Kinley’s analysis took into consideration that the mineralization is highly plastic and with the assistance of jetting and pumping would likely flow. With this information, coupled with the significant cost of backfilling and then the consideration of subsidence, Kinley evaluated HBHM without backfilling and using directional drilling from a stable position.
The Kinley model assumed the highly mobile mineralization within the target section would behave plastically and flow in a fluid state or caving condition to the mining system intake. This relies on flow of the mobilized mineralization, accelerated by high pressure jetting to a centralized well, then pumped back to surface. GRE assumes a more conservative recovery of 60% because of potential mass flow issues that need to be evaluated during test mining.
Open Pit Mining of Upper Zone
Open pit mining of the Upper Zone at Bonnie Claire would likely use conventional mining equipment of hydraulic shovels and mining haul trucks but could possibly use scrapers. The soil is extremely soft and typically saturated. As a result, pit wall slopes would need to be relatively shallow; for the Lerchs-Grossman pit exercise in Section 14, the GRE Qualified Person used 18° side wall slopes. Additional geotechnical testing would need to be completed to determine stable side wall slope angles, bench heights, and catch bench widths. Dewatering portions of the pit, freezing, or other forms of stabilizing pit slopes and bottom may be required.
Mineral Processing and Metallurgical Testing
The mineral assemblage changes with depth. The Upper Zone generally shows lower grade lithium and boron and higher calcite content, while the Lower Zone tends to be significantly higher-grade lithium and boron and lower calcite content. The final mine design has not been completed, and the project may have several options: mine the upper portion, mine the lower portion, or mine the entire deposit. As a result, two distinct treatment options have been evaluated.
For the Upper Zone, a thermal treatment was developed that involved a sulfate calcination followed by a hot water leach. This process had the advantage of not solubilizing as many impurities, particularly iron. High lithium extractions (up to 80%) were achieved.
New drill samples from the Lower Zone were tested, and the calcination process was not effective due to the low melting point of the boron minerals (searlesite). Subsequently, sulfuric acid leaching was evaluated to treat the deeper deposit material. The acid treatment demonstrated that the lithium host is readily soluble in a strong sulfuric acid solution, achieving extractions of approximately 85%. The conventional downstream purification of the acid liquor had challenges for the upper sections of the deposit due to high iron solubilization.
Boron concentrations in the Lower Zone warrant a separate boron recovery circuit. Boron is recovered from the leach liquor after primary impurity removal via ion exchange to produce a boric acid product.
Quality Assurance / Quality Control
A quality assurance / quality control protocol following industry best practice was incorporated into the drill program by Nevada Lithium. Drilling was conducted by Major Drilling Group International Inc. (“Major Drilling”). Core was transported by Major Drilling from the collar location and received by Nevada Lithium staff at the Company storage facility in Beatty, Nevada. The facility is only accessible to Nevada Lithium staff and remains otherwise locked. Received core was logged and cut at the facility by Nevada Lithium staff. Logging and sampling included the systematic insertion of blanks, duplicates and certified reference material (“CRM”) MEG Li.10.12 and OREAS 750 into sample batches at an insertion rate of approximately 10%. All core samples collected were transported by Company staff to ALS USA Inc.’s laboratory in Reno, Nevada. for sample preparation. Sample preparation comprises initial weighing (Code WEI-21), crushing quality control test (CRU-QC), pulverizing quality control test (PUL-QC), fine crushing at 70% <2mm (CRU-31), sample split using Boyd rotary splitter ((SPL-22Y), pulverizing up to 250g 85% <75 µm (PUL-31), crush entire sample (CRU-21), pulp login (LOG-24) and a crusher wash (final crusher wash between samples (WSH-21). Samples were shipped to ALS USA Inc.’s Vancouver laboratory in Burnaby British Columbia, where the samples were analyzed using 48-element four-acid inductively coupled plasma mass spectrometry (ME-MS61) and B/Li N₂O₂ fusion inductively coupled plasma atomic emission spectroscopy high-grade (ME-ICP82b) procedures.
Data verification by GRE staff included: an on-site inspection of the Project site and core, reverse circulation and chip tray storage facilities, check sampling, geologic maps and reports, and manual auditing of the Project drill hole database. GRE’s Qualified Persons have been involved with the project since 2018. They visited the site in 2018 after drilling, during drilling in 2020 and 2022. The results from the site inspection, visual sample inspection and check sampling for each drilling campaign are given below. Based on the results of GRE’s Qualified Persons check of the sampling practices, verification of drill hole collars in the field, results of the check assay analysis, visual examination of selected core intervals, and the results of both manual and mechanical database audit efforts, GRE considers the collar, lithology, and assay data contained in the project database to be reasonably accurate and suitable for use in estimating mineral resources.
The data verification of the drilling campaigns shows that data from the rotary mud drilling was suspect and not used in the resource estimate. Open pit mining and processing methods, costs and infrastructure needs were verified by Ms. Lane in comparison to other similar sized open pit mines operating in the western USA. Borehole mining costs were developed by Kinley with coordination with GRE. Other cost data used in the report was sourced from the most recent infomine cost data report. All costs used to determine reasonable prospects for economic extraction were verified and reviewed by GRE and were assessed to be current and appropriate for use.
Metallurgical testing was completed for Bonnie Claire by a well-known commercial metallurgical laboratory. GRE reviewed all available metallurgical reports. GRE confirmed that the mineralization found at the Project is similar to another project where GRE has performed other consulting work and finds that the test work for Bonnie Claire shows that the material behaves in a similar manner, specifically in lithium extraction and recovery and reagent consumption. Given the similarities of the Bonnie Claire material to other similar projects, this provides a good basis for benchmarking the metallurgical test. The work appears to be professionally completed and is well documented and is suitable for estimation of lithium extraction and recovery calculations in the Mineral Resource Estimate.
About Nevada Lithium Resources Inc.
Nevada Lithium Resources Inc. is a mineral exploration and development company focused on shareholder value creation through its core asset, the Bonnie Claire Lithium Project, located in Nye County, Nevada, where it holds a 100% interest.
For further information on Nevada Lithium and to subscribe for updates about Nevada Lithium, please visit its website at: https://nevadalithium.com/
Qualified Person Disclosure
The technical information in the above disclosure has been reviewed and approved by the designated Qualified Person under NI 43-101, Dr. Jeff Wilson, PhD, P.Geo, Vice President of Exploration for Nevada Lithium. Dr. Wilson is not independent of Nevada Lithium, as he is Vice President of Exploration for Nevada Lithium.
The technical information in the above disclosure has also been reviewed and approved by Terre Lane, a ‘Qualified Person’ as defined under NI 43-101. Ms. Lane is Principal Mining Engineer with GRE and considered to be “independent” of the Company under Section 1.5 of NI 43-101.
On behalf of the Board of Directors of Nevada Lithium Resources Inc.
“Stephen Rentschler”
Stephen Rentschler, CEO
For further information, please contact:
Nevada Lithium Resources Inc.
Stephen Rentschler
CEO and Director
Phone: (647) 254-9795
E-mail: sr@nevadalithium.com
Media Inquiries
E-mail: info@nevadalithium.com
Find Nevada Lithium on Twitter and LinkedIn
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release. The Canadian Securities Exchange has not approved or disapproved of the contents of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. These statements relate to matters that identify future events or future performance. Often, but not always, forward looking information can be identified by words such as “could”, “pro forma”, “plans”, “expects”, “may”, “will”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.
The forward-looking statements contained herein include, but are not limited to, statements regarding: the performance of the Project; results of the 2023 Exploration and Development Plan (including, without limitation, its mineral resources, current claims and its ability to utilize global lithium needs); any plans following the Mineral Resource Estimate; the preparation of an updated PEA in 2025; and the performance of lithium as a commodity, including the sustained lithium demand and prices.
In making the forward looking statements in this news release, Nevada Lithium has applied several material assumptions, including without limitation: market fundamentals that result in sustained lithium demand and prices; the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of Bonnie Claire in a timely manner; the availability of financing on suitable terms for the development; construction and continued operation of Bonnie Claire; the Project containing mineral resources; and Nevada Lithium’s ability to comply with all applicable regulations and laws, including environmental, health and safety laws.
Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect Nevada Lithium’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of managements considered reasonable at the date the statements are made. Although Nevada Lithium believes that the expectations reflected in such forward- looking statements are reasonable, such information involves risks and uncertainties, and under reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements expressed or implied by Nevada Lithium. Among the key risk factors that could cause actual results to differ materially from those projected in the forward- looking statements are the following: operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Project; estimation or realization of mineral reserves and mineral resources, requirements for additional capital; future prices of precious metals and lithium; changes in general economic, business and political conditions, including changes in the financial markets and in the demand and market price for commodities; possible variations in ore grade or recovery rates; possible failures of plants, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays or the inability of Nevada Lithium to obtain any necessary approvals, permits, consents or authorizations, financing or other planned activities; changes in laws, regulations and policies affecting mining operations; currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities; risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on Nevada Lithium’s business; as well as those factors discussed under the heading “Risk Factors” in Nevada Lithium’s latest Management Discussion and Analysis and other filings of Nevada Lithium filed with the Canadian securities authorities, copies of which can be found under Nevada Lithium’s profile on the SEDAR+ at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialized, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Nevada Lithium has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Nevada Lithium does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
NVLH:CC
Where Does Tesla Get its Lithium?
In a mid-2023 Tesla earnings call, Musk seemed relieved to see prices for the battery metal had declined. “Lithium prices went absolutely insane there for a while,” he said. Lower battery prices will bring EVs closer to cost parity with internal combustion engines vehicles, leading to wider adoption and increased demand.
During the 2024 US presidential election, Musk threw his support behind Republican candidate and former president Donald Trump, who has been historically critical on electric vehicles and subsidies. Following Trump's election win on November 5, AP News reported that these stances could support Tesla as they would be more likely to harm smaller competitors who were less established than the EV giant. Tesla's share price shot upwards in response to the election outcome.
In the spring of 2024, Musk invited Argentine President Javier Milei to the Tesla factory in Austin, Texas, where the two reportedly discussed the investment opportunities in Argentina's lithium sector. As a prominent member of the prolific Lithium Triangle, the South American nation is the fourth leading lithium producer by country.
Australia's hard-rock deposits and Chile's brines are also top sources for the world's lithium supply. But lithium refining is dominated by China, which accounted for 72 percent of global lithium processing capacity in 2022.
With the limelight on Musk and Tesla, investors should know where the electric car company sources its lithium.
Read on to learn more about where Tesla gets its lithium, how much lithium is in a Tesla battery and what the EV maker is doing to better secure its lithium supply chain.
In this article
Which lithium companies supply Tesla?
Tesla has deals with multiple lithium suppliers, some that are already producers and some that are juniors developing lithium projects.
At the end of 2021, Tesla inked a three-year lithium supply deal with top lithium producer Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460), and the Chinese company began providing products to Tesla starting in 2022. Major miner Arcadium Lithium (NYSE:ALTM,ASX:LTM), which is set to be acquired by Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), also has supply contracts in place with the EV maker.
China’s Sichuan Yahua Industrial Group (SZSE:002497) agreed to supply battery-grade lithium hydroxide to Tesla through 2030. Under a new, separate agreement finalized in June 2024, Yahua is set to supply Tesla with an unspecified amount of lithium carbonate between 2025 and 2027, with the option to extend the contract by another year.
Liontown Resources (ASX:LTR,OTC Pink:LINRF) is set to supply Tesla with lithium spodumene concentrate from its AU$473 million Kathleen Valley project. The deal is for an initial five year period set to begin this year, and production began in July 2024.
In January 2023, Tesla amended its agreement with Piedmont Lithium (ASX:PLL,NASDAQ:PLL), which now supplies the US automaker with spodumene concentrate from its North American Lithium operation, a joint venture with Sayona Mining (ASX:SYA,OTCQB:SYAXF). The deal is in place through the end of 2025.
Even though Tesla has secured lithium from all these companies, the EV supply chain is a bit more complex than just buying lithium directly from miners. Tesla also works with battery makers, such as Panasonic (OTC Pink:PCRFF,TSE:6752) and CATL (SZSE:300750), which themselves work with other chemical companies that secure their own lithium deals.
What are Tesla batteries made of?
Tesla vehicles use several different battery cathodes, including nickel-cobalt-aluminum (NCA) cathodes and lithium-iron-phosphate (LFP) cathodes.
Tesla is known for using NCA cathodes developed by Japanese company Panasonic. This type of cathode has higher energy density and is a low-cobalt option, but has been less adopted by the industry compared to the widely used nickel-cobalt-manganese (NCM) cathodes. Aside from that, South Korea's LG Energy Solutions (KRX:373220) supplies Tesla with batteries using nickel-cobalt-manganese-aluminum (NCMA) cathodes.
As mentioned, it wasn’t just lithium that saw prices climb in 2021 — cobalt doubled in price that same year, and although it has declined since then, the battery metal remains essential for many EV batteries. Most cobalt mining takes place in the Democratic Republic of Congo, which is often associated with child labor and human rights abuses, fueling concerns over long-term supply.
That said, not all Tesla’s batteries contain cobalt. In 2021, Tesla said that for its standard-range vehicles it would be changing to lithium-iron-phosphate (LFP) cathodes, which are cobalt- and nickel-free. At the time, the company was already making vehicles with LFP chemistry at its factory in Shanghai, which supplies markets in China, the Asia-Pacific region and Europe.
In April 2023, Tesla announced that it planned to use this type of cathode chemistry for its short-range heavy electric trucks, which it calls "semi light." The company is also looking to use LFP batteries in its mid-sized vehicles.
At the top of 2024, Tesla made moves to produce LFP batteries at its Sparks, Nevada, battery facility in reaction to the Biden Administration's new regulations on battery materials sourcing, especially on those sourced from China. Reuters reports Tesla battery supplier CATL will sell idle equipment to the car maker for use at the plant, which will have an initial capacity of about 10 gigawatt hours.
What company makes Tesla’s batteries?
Tesla works with multiple battery suppliers, including Panasonic, its longtime partner, as well as LG Energy Solutions, the second largest battery supplier in the world. They supply the EV maker with cells containing nickel and cobalt.
China's CATL has been supplying LFP batteries to Tesla for cars made at its Shanghai plant since 2020. It’s also been reported that BYD Company (OTC Pink:BYDDF,SZSE:002594) is supplying Tesla with the Blade battery — a less bulky LFP battery — which the car manufacturer has used in some of its models in Europe.
Additionally, BYD is set to work with Tesla on its battery energy storage systems (BESS) in China, with a plan to supply 20 percent of Tesla's anticipated BESS manufacturing capacity, with CATL expected to cover 80 percent. The factory, which began production at the close of 2024, uses the companies' LFP batteries.
How much lithium is in a Tesla battery?
How much lithium do Tesla batteries actually contain? That question is tricky because many factors are at play. Typically, it depends on battery chemistry, as demonstrated by the chart below, as well as battery size.
For example, the standard Tesla Model S contains about 138 pounds, or 62.6 kilograms, of lithium. It is powered by a NCA battery, which has a weight of 1,200 pounds or 544 kilograms.
The amount of lithium in a Tesla battery can also vary based on model and year as the battery chemistries and weights are often changing with each new iteration.
Back in 2016, Musk said batteries don't require as much lithium as they do nickel or graphite — he described lithium as "the salt in your salad." As the chart below shows, the metal only makes up about a 10th of the materials in each battery.
Metal content of battery chemistries by weight.
Chart via BloombergNEF.
But a key factor to remember is volume — given the amount of batteries Tesla needs to meet its ambitious goals, it could hit a bottleneck if it can’t secure a steady supply of raw materials. Of course, this is true not just for Tesla, but for every carmaker producing EVs today and setting targets for decades to come.
For that reason, demand for lithium-ion batteries is expected to soar in the coming years. By 2030, Benchmark Mineral Intelligence forecasts that demand will grow by 400 percent to reach 3.9 terawatt-hours. Over the same forecast period, the firm sees the current surplus in the lithium supply coming to end.
Will Tesla buy a lithium mine?
For carmakers, securing lithium supply to meet their electrification goals is becoming a challenge, which is why the question of whether they will become miners in the future continues to come up.
But mining lithium is not easy, and despite speculation, it's hard to imagine an automaker being involved in it, SQM’s (NYSE:SQM) Felipe Smith said. “You have to build a learning curve — the resources are all different, there are many challenges in terms of technology — to reach a consistent quality at a reasonable cost,” he noted. “So it's difficult to see that an original equipment manufacturer (OEM), which has a completely different focus, will really engage into these challenges of producing.”
Even so, OEMs are coming to the realization that they might need to build up EV supply chains from scratch after the capital markets' failure to step up, Benchmark Mineral Intelligence’s Simon Moores believes. Furthermore, automotive OEMs that are making EVs will in effect have to become miners.
“I don't mean actual miners, but they are going to have to start buying 25 percent of these mines if they want to guarantee supply — paper contracts won't be enough,” he said.
However, Musk has made it clear to investors that Tesla is more focused on developing its lithium refining capabilities, rather than getting into the mining game.
Where is Tesla's lithium refinery?
Tesla broke ground on its in-house Texas lithium refinery in the greater Corpos Christi area of the state in 2023. Tesla's lithium refinery capacity is expected to produce 50 GWh of battery-grade lithium per year. Construction of the lithium refinery is nearly completed with full production anticipated in 2025.
Tesla's Texas lithium refinery was facing an obstacle in obtaining a contract for the 8 million gallons of water per day needed to run the plant, as the region of South Texas is in the middle of a serious drought and water supplies are tight.
"In December, South Texas Water Authority passed an infrastructure deal that will allow Nueces Water Supply to sell rights to the pipe Tesla will need to obtain water, which was one of the hold-ups for a water deal," Bloomberg BNN reported in early January.
This is an updated version of an article first published by the Investing News Network in 2022.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Laguna Verde Resource Update
CleanTech Lithium PLC ("CleanTech Lithium" or "CleanTech" or the "Company") (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, announces an updated resource estimate for its Laguna Verde project that has been included by the Chile Government as one of the six salar systems to be prioritised for development.
Highlights:
- The mineral resource estimate is updated from that reported in the RNS of 17 July 2023 based on additional exploration and pumping tests conducted in 2024
- The JORC (2012) compliant estimate was calculated by Montgomery & Associates ("Montgomery´"), a leading hydrogeological consultant highly experienced in lithium brine resource estimation
- The total updated resource is 1.63 million tonnes of Lithium Carbonate Equivalent (LCE), at a grade of 175 milligrams per litre (mg/l) lithium, of which 0.81 million tonnes is in the Measured + Indicated category at a grade of 178 mg/l lithium
- This current resource estimate is based on the proposed polygon area included in the Company´s recently submitted application for a Special Operating Contract for Lithium ("CEOL")
- The previous 2023 estimate which totalled 1.77 million tonnes LCE at an average grade of 200mg/l lithium was based on the previously proposed CEOL area under the old application regime that was larger covering the entire estimated resource of the basin.
- Lithium concentrations obtained in the 2024 campaign were below the average grade of other exploration wells impacting the average lithium grade of the resource
- Montgomery recommends three additional drillholes in the southwest, north and northeast to potentially increase the resource based on completed geophysics
- This updated measured and indicated resource estimate will be used in the pre-feasibility study (PFS) which is intended to underpin a maiden reserve estimate for the Laguna Verde project
Steve Kesler, Executive Chairman, CleanTech Lithium said: "The updated JORC-compliant resource estimate for the Laguna Verde project, independently determined by Montgomery & Associates, confirms a robust and significant resource of 1.63 million tonnes of Lithium Carbonate Equivalent (LCE), with 0.81 million tonnes in the Measured and Indicated category at an average grade of 178 mg/l lithium. Now with greater confidence in the resource, this comprehensive evaluation will form the basis for the Pre-Feasibility Study, scheduled for end of this quarter. This positions Laguna Verde as a highly promising direct lithium extraction (DLE) based project in the lithium brine sector and as a contributor to Chile's future as a leading lithium producer for the global EV and battery market."
Further Details:
Project Background
The Laguna Verde corresponds to a lithium brine deposit which is found in the Atacama Region of Chile, near the Chile - Argentina border. The project consists of mining concessions located approximately 192 kilometres (km) northeast of Copiapó. The concession area is readily accessible via a network of paved roads from the closest major city Copiapó, following the route (R-31) for approximately 275 km. The Laguna Verde Basin has elevations that vary between 4,330 to 4,500 metres above sea level (masl), where the low altitude valley area is approximately 20 km long and 4 km wide.
Figure 1: Regional Location Map and Project Area
The previous resource estimate for Laguna Verde was reported in July 2023, based on five wells completed in 2022 and 2023. A drill programme was undertaken in 1H 2024 which completed two infill wells in the first half of 2024 along with three observation wells drilled to support observations during pumping tests. The location of wells completed from 2022 - 2024 are shown in Figure 2, along with three recommended wells to potentially increase the resource.
 |
Figure 2: Existing and Recommended Exploration Wells at Laguna Verde
Resource Summary
Montgomery was engaged to support the 2024 field programme at Laguna Verde and based on the information obtained to provide an updated resource estimate and technical report for the project. The technical report has been prepared to conform to the regulatory requirements of the JORC Code (2012). Mineral Resources are also reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines (CIM, 2012).
The breakdown of the resource categories comprising the total resource estimate and the comparison with the previous 2023 estimate is shown below in Table 1. The previous 2023 estimate which totalled 1.77 million tonnes LCE at an average grade of 200 mg/l Lithium was based on a proposed CEOL area that was larger and covered the entire estimated resource of the basin, whereas the updated 2025 estimate is based on the Company's preferential licences and proposed polygon area included in the Company´s recently submitted application for a CEOL. As a comparison, the current resource estimate for the basin (on the same basis of larger CEOL area) would be 1.95 million tonnes LCE.
Lithium concentrations obtained in the 2024 campaign were below the average grade of other exploration wells impacting the average lithium grade. Although slightly lower than the lithium grade used in the 2023 scoping study a grade of 175 mg/l lithium is very suitable for the DLE process and is well above the cut-off grade of 100 mg/l lithium.
Table 1: Updated JORC Resource Estimate 2025 Compared to 2023 Resource Estimate
Special Operating Contract for Lithium (CEOL)
In April 2024 the Chilean government announced, as part of its National Lithium strategy, the intention to make available to the private sector CEOLs over 26 salt flats. As of September 2024, the Chilean government has prioritised six salt flats for the CEOL award process, one of which is Laguna Verde. The CEOL grants exclusive rights to exploit lithium and only one CEOL is to be granted per saline system. The Government also published a polygon CEOL area for each of the prioritised salt flats but clarified that this polygon area is referential and could be modified following community dialogue and with agreement of the applicant. The Government also announced that the CEOL could be awarded in a streamlined procedure that allowed direct negotiation with Government rather than through a public tender provided that a number of criteria were met. One criteria was that the applicant must demonstrate that it holds at least 80% of the preferential mining licences in the CEOL polygon.
CleanTech Lithium has proposed a modification to the published CEOL polygon in its CEOL application (shown in Figure 3) which has been developed to ensure that over 80% of the proposed CEOL polygon area is preferential mining licenses held by CleanTech. The CEOL application by CleanTech includes letters of support from indigenous communities for the proposed modified CEOL polygon.
Figure. 3: CleanTech´s Preferential Licences and Proposed CEOL Extent
Table 2 provides a breakdown of the current Laguna Verde resource estimate by resource category and by separating the resource attributable to the preferential licences held by the Company, and the provisional resources in licences held by third parties within the proposed CEOL area. The combined resource would be attributable to the Company provided the CEOL is awarded to CleanTech for the proposed area (Figure 3).
Mineral resources are not mineral reserves and do not have demonstrated economic viability. Furthermore, not all mineral resources can be converted into mineral reserves after application of the modifying factors, which include but are not limited to mining, processing, economic, and environmental factors.
Table 2: Mineral Resource Estimate for the Laguna Verde Project (Effective January 3, 2025)
Resource Estimation Method
The updated resource estimate consists of Measured, Indicated and Inferred resources. A detailed geological and resource block model was creating in Leapfrog (Seequent, 2023) using obtained well lithologies, discrete-depth values for brine chemistry, drainable porosity values, and geophysical profiles. Lithium concentrations were interpolated using ordinary kriging, specific yield was assigned to each hydrogeological unit, and the mass calculations within the resource block model were undertaken using the Leapfrog Edge extension. A cut-off grade of 100mg/l lithium was conservatively applied based on the Laguna Verde scoping study capital and operating costs.
Consistent with the Houston et al. (2011) recommendations for immature salars, a 1.25 km radius circle around the well was used to estimate a Measured resource, a 2.5 km radius circle around the well was used to estimate an Indicated resource, while a maximum 5 km radius circle was used as the areal extent to estimate an Inferred resource. Depending on the confidence in the sampling procedures and presence of volcanic outcrops, some resource polygons were limited in extent.
Surface Rights
In Chile, Surface Access Rights should be granted or imposed on a mining concession before the extraction starts. CleanTech Surface Access Rights request was received by Bienes Nacionales on June 16, 2023, in the name of Atacama Salt Lakes SpA and is currently in process. The requested area totals 11,136 hectares and covers the project scoping study planned installations (Ad Infinitum, December, 2022). The requested area can be seen in Figure 4.
 |
Figure 4. CleanTech's Requested Surface Right Area
Water Rights
There are surface water courses that contribute to the Laguna Verde. The Peñas Blanca River flows from west to east and has a continuous flow throughout the year, while to the east of the Laguna Verde, there are intermittent surface water flows. Freshwater exploration wells also exist in the western portion of the basin with demonstrated pumping rates that exceed 40 L/s (Hydro Exploraciones, 2020). Furthermore, a conceptual water balance of the basin recharge has been prepared and indicates that the average estimated freshwater recharge in the Laguna Verde Basin corresponds to 570 l/s (M&A, 2024a). Potential sources of freshwater for the Project include the application for groundwater rights in the basin or the purchase of water rights from third parties (CleanTech, 2024).
Geological Setting
The regional geology of the Project area is mainly characterised by volcanic and sedimentary sequences. Laguna Verde is an immature clastic salar basin, with the lagoon effectively corresponding to the evaporative "salar nucleus". The Project consists of a lithium-rich aquifer found below the lagoon and in the surrounding sediments. The brine is mainly hosted in volcaniclastic sediments and tuff beneath the lagoon with a moderate hydraulic conductivity.
The Laguna Verde stratigraphy is characterised by a band of tuffs with different grain sizes, consolidation / welding, type of clasts, and locally interbedded volcaniclastic sediments. This unit presents an average thickness of 400 metres and overlays the lower volcanic rock (mainly andesite) identified in drillholes and the gravity survey, which has some fracturing and a low drainable porosity. Furthermore, a fault zone which has highly fractured and brecciated rock was encountered along the southern portion of Laguna Verde. In all, the brine aquifer was characterised up to a maximum depth of 650 metres (LV07).
Figure 5 shows the locations for two NW-SE hydrogeological cross sections, and Figure 6 shows the sections with the hydrogeological units modelled in the Leapfrog software.
Figure 5: Hydrogeological Cross Section Locations
Figure 6: Hydrogeological Cross Sections
Exploration
CleanTech engaged Geodatos to conduct Transient ElectroMagnetic (TEM) geophysical surveys at Laguna Verde during the periods April to May 2021 and again in March 2022. The objective of these surveys was to determine the electrical properties of the subsurface sediments to provide information about the stratigraphy and water quality of the hydrogeologic units in the area. The surveys also helped determine the water table level and helped confirm the presence of brine.
A gravity survey was performed by Geodatos between the end of December 2022 and early January 2023. The survey campaign included TEM measurements and two extra profiles. One hundred and eleven (111) gravity stations, arranged in four lines surrounding the lagoon area, as well as fourteen (14) TEM stations, arranged in two lines, were surveyed with a 400-metre separation.
Figure 7: Laguna Verde Surveyed Gravity and TEM Stations
Drilling
An initial drilling campaign was conducted in 2022 and 2023 with four diamond drill holes (DDH) (LV01, LV02, LV03 and LV04) and two rotary wells (LV05 and LV06) as shown in Figure 2. A second campaign was conducted in 2024, with Montgomery personnel, where two exploration boreholes were drilled (LV07 and LV11) with monitoring wells for subsequent pumping tests at LV05 and LV06. Drilling at boreholes LV07 and LV11 reached a final depth of 650 metres below land surface (mbls) and 412.8 mbls, respectively. A pumping test at LV05 was initially conducted in the first campaign and included a pre-test and a 48-hour constant discharge test on April 8, 2023. During the 2024 campaign, a step-discharge and a constant-discharge were conducted at LV05, but due to adverse weather conditions, a long-term constant rate test could not be completed. During the first campaign, a pre-test and a constant discharge test were conducted at LV06 and a long-term (7-day) constant rate test was conducted during the 2024 campaign.
Table 3: Location and Depth Drilled for Years 2022, 2023 and 2024 Exploration Wells
Well | Drilling Method | Northing | Easting | Total Depth Drilled (m) | Year Drilled |
LV01 | DDH | 7,027,088 | 549,432 | 474 | 2021-2022 |
LV02 | DDH | 7,024,396 | 553,992 | 339 | 2022 |
LV03 | DDH | 7,028,434 | 549,980 | 547.5* | 2022 |
LV04 | DDH | 7,024,390 | 556,826 | 311 | 2022 |
LV05 | Rotary | 7,027,908 | 550,972 | 434.6 | 2022-2023 |
LV06 | Rotary | 7,026,004 | 555,912 | 405 | 2023 |
LVM05a | DDH | 7,027,908 | 550,921 | 221.50 | 2024 |
LVM05b | DDH | 7,027,951 | 550,946 | 41.5 | 2024 |
LVM06c | DDH | 7,026,032 | 555,959 | 40 | 2024 |
LV07 | DDH | 7,025,296 | 552,561 | 650 | 2024 |
LV11 | DDH | 7,024,793 | 555,582 | 412.8 | 2024 |
*LV03 was drilled as an angled borehole with an azimuth of 120 degrees and dip of 60 degrees.
Figure 8: Drilling at LV07 in 1H 2024
Brine Sampling Collection and Analysis
Various methods were used to obtain brine samples during and after the exploration drilling program:
- Packer sampling
- Airlift sampling
- Double-valved disposable bailer sampling
- Double-valved electric bailer sampling
- Hydra-sleeve sampling
- Brine sampling during pumping tests
The brine sampling program included standard quality assurance/quality control (QA/QC) elements such as including duplicate brine and blank samples in bine sample batches sent to the laboratory. Formal traffic reports and chain of custody documents were prepared for every sample obtained and submitted for laboratory analysis. In the opinion of the Competent Person (CP), sample preparation, security, and analytical procedures were acceptable for this stage of the Project and results from the laboratory analyses are considered adequate.
Drill Core Sampling and Specific Yield Estimation
During the first campaign, core samples were obtained every 10 metres from the four drillholes and a total of 122 core samples were obtained at each drillhole and submitted to the DBS&A Laboratory in New Mexico, USA for Relative Brine Release Capacity (RBRC) tests. During the second campaign (2024), 33 core samples were obtained from LV07 and LV11 and were sent to GeoSystem Analysis (GSA) laboratory in Tucson, USA, for analysis.
Figure 9: Example of Drill Core from Exploration Borehole LV11 (132 to 136m)
Laboratory values for drainable porosity were obtained from 145 successfully analysed core samples. Core samples underwent Relative Brine Release Capacity (RBRC) tests. The drainable porosity (i.e., specific yield) measurement procedure involved saturating the core sample with a brine solution and placing them in test cells where a pressure differential was applied and the proportion of brine which can be drained was estimated. In the opinion of the CP, sample preparation, security, and analytical procedures were acceptable and results from the laboratory analyses are considered adequate for resource estimation. The 2023 resource estimate included drainable porosity measurements which were increased by a secondary porosity term calculated from rock quality designation logged during drilling. This current resource update uses drainable porosity measurements from the laboratory, without modification, which results in lower drainable porosities than used in the 2023 resource estimate.
The average drainable porosity values assigned to each hydrogeologic unit used to estimate the lithium resource are given in Table 3. Due to its smaller dataset, a simpler analysis was undertaken for drainable porosity to assign representative values by hydrogeological unit; constant (average) values were assigned to each hydrogeologic unit in the resource model, and drainable porosity values were not interpolated.
Table 3: Assigned Drainable Porosity Values for Laguna Verde Hydrogeological Units
Hydrogeological Unit | Average Drainable Porosity* | N° Samples |
Unconsolidated Tuff and Coarse Tuff | 6% | 102 |
Consolidated Ash Tuff | 3% | 14 |
Brecciated and Fractured Rock | 5% | 9 |
Lower Volcanic Rock | 1% | 5 |
Upper Alluvium and Colluvium | 10%** | 0 |
Surficial Volcanic Deposits | 3%*** | 0 |
* Rounded arithmetic average
** Assumed theoretical value
*** The drainable porosity of the consolidated ash tuff unit was assumed due to its lithological similarity. The number of blocks that correspond to the consolidated ash tuff within the resource block model are negligible compared to the rest of the hydrogeological units.
Recommendations
Currently, the drilling and testing of a reinjection well is planned for the first quarter of 2025. In terms of the resource, three additional diamond drillholes in the southwest, north, and northeast are recommended to potentially expand the resource volume (Figure 2; LV08, LV09, and LV10) based on the conducted geophysics. During the drilling of those three additional diamond drillholes, depth-specific brine and drainable porosity sampling are recommended with the corresponding QA/QC measures.
Block Model Results and Verification
Figure 10 presents the shallowest interpolated concentrations of the brine body which were mapped to the Leapfrog block model; as can be seen, grades are highest in the western portion of Laguna Verde, whereas the eastern portion represents a zone of heightened recharge with diluted grades. The bottom of the block model was limited to the deepest well (LV07), and the horizontal extent of the block model was limited to the CleanTech concessions and potential of the proposed CEOL area. Laboratory results for lithium concentrations from depth specific brine and pumping test samples collected from the wells were incorporated directly into the model. Ordinary Kriging was used for the interpolation of lithium concentrations within the block model.
Figure 10: Shallow Lithium Concentration Distribution and Proposed CEOL Outline
The resource block model was subsequently validated by visual inspection and comparison of the measured and block model concentrations. Swath plots were also utilized, which compare the average measured and interpolated values along distinct profiles of the block model.
Competent Persons Statement
The following professionals act as competent persons, as defined in the AIM Note for Mining, Oil and Gas Companies (June 2009) and JORC Code (2012):
Mr. Michael Rosko is a Registered Member of the Society for Mining, Metallurgy and Exploration, member #4064687. He graduated from the University of Illinois with a bachelor's degree in geosciences in 1983, and from the University of Arizona with a master's degree in geosciences in 1986. Mr. Rosko is a registered professional geologist in the states of Arizona (#25065), California (#5236), and Texas (#6359). Mr. Rosko has practiced his profession for 38 years and has been directly involved in design of numerous exploration and production well programs in salar basins in support of lithium exploration, and estimation of the lithium resources and reserves for many other lithium projects in Argentina and Chile.
Mr. Brandon Schneider is employed as a Senior Hydrogeologist at M&A. He graduated from California Lutheran University in 2011 with a Bachelor of Science degree in Geology (with Honors) and obtained a Master of Science in Geological Sciences (Hydrogeology focus) from the University of Notre Dame in 2013. He is a professional in the discipline of Hydrogeology and a Registered Professional Geologist in Arizona (#61267) and SME Registered Member (#4306449). He has practiced his profession continuously since 2013. His relevant experience includes: (i) from 2013 to 2016, consulting hydrogeologist specializing in hydrogeological characterizations, aquifer test analyses, groundwater modeling, and pumping well optimization for mining projects and sedimentary basins in Arizona, United States; (ii) since 2017, consulting hydrogeologist in Chile specializing in lithium brine projects in Argentina and Chile with experience in brine exploration, lithium brine resource and reserve estimates, resource and reserve reporting, variable density flow and transport modeling, and optimization of pumping.
For further information contact: | |
CleanTech Lithium PLC | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +56 9 312 00081 |
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, OTCQX:CTLHF) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and 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 four projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction 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. www.ctlithium.com
Click here for the full release
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.