Laguna Verde Project PFS Update

CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF, Frankfurt:T2N), an exploration and growth firm advancing lithium initiatives in Chile, declares that it now expects to publish the Pre-Feasibility Research (the “PFS”) for the Laguna Verde Venture in Q3 2024. In an effort to produce a extra sturdy PFS, which can additional help strategic companion discussions, the Board has determined to incorporate information from the Firm’s DLE pilot plant in addition to from the present drilling and discipline programme at Laguna Verde.

Highlights:

· The Firm goals to finish a PFS that may outline the very best configuration of the Laguna Verde Venture to take ahead right into a Definitive Feasibility Research (DFS).

· The present drilling programme at Laguna Verde is designed to supply the primary JORC compliant reserve estimate for the venture, which is an integral part to the PFS in accordance with recognised requirements

· The drilling programme can even produce a hydrogeological mannequin to design the extraction and reinjection wells to maximise the restoration of the lithium useful resource.

· Information from the optimisation of course of parameters for the Firm´s DLE pilot plant will present essential enter for the PFS.

· Incorporating the outcomes of the present discipline programme and pilot plant course of information will produce a extremely sturdy PFS within the Board’s view, subsequently the PFS is now focused for completion in Q3 2024.

· The PFS is being led by Worley, a world engineering companies firm, from its Santiago workplace which has appreciable expertise of enterprise feasibility research for and executing lithium initiatives in Chile.

· The Firm has engaged varied consultants to ship extra detailed research addressing port entry, water provide, energy entry and lithium market research, which additionally kind a part of the PFS.

· Completion of the PFS, together with course of and product verification, are key steps in 2024 to interact with top quality strategic traders for offtake and venture funding.

Aldo Boitano, Chief Government Officer, of CleanTech Lithium PLC, commented: “The Pre-Feasibility Research (PFS) for the Laguna Verde venture can be a major milestone on our path to lithium manufacturing. It’s the Firm’s purpose to supply the very best high quality PFS to make sure the strongest doable platform for discussions with strategic companions. The addition of information from the Firm’s DLE pilot plant will assist obtain that purpose.”

Additional Info

Following the completion of a optimistic scoping research on the Laguna Verde venture in Q1 2023, the Firm engaged Worley to guide a PFS, a scientific evaluation of all important components of the venture and the assorted choices for the venture configuration. Worley is a world engineering companies firm with in depth expertise in useful resource venture feasibility research, and its Chile workplace has a excessive degree of lithium sector experience. Different consultants which concentrate on key points of the research similar to port entry, water provide, energy entry and lithium market research are supporting Worley.

A useful resource analysis programme on the venture is ongoing, which goals to supply a JORC compliant reserve estimate scheduled for early Q3 2024. The present useful resource of 1.8 million tonnes of lithium carbonate equal (LCE) within the Measured, Indicated and Inferred classes relies on six wells accomplished in 2022 and 2023. An additional 5 wells are deliberate to be accomplished within the first half of 2024, as proven in determine 1. The drilling programme, which can embody completion of pumping and reinjection assessments, is being managed by Montgomery and Associates, a number one hydrogeology guide with in depth expertise engaged on lithium brine aquifers in Chile and Argentina.

The elevated drilling density and the completion of pump assessments on wells LV05 and LV06, together with a reinjection take a look at, is anticipated to offer adequate information to supply an estimate of reserves. The drilling programme can even allow a sturdy hydrogeological mannequin to be accomplished, which can be used to design the extraction and reinjection wellfields to maximise restoration of the lithium useful resource. The significance of getting management of the basin can’t be underestimated, as this permits the Firm to handle the aquifer with out interference from third events. The reserve estimate and wellfield design is required to plan the lifetime of mine manufacturing output within the PFS.

Determine 1: Drill Plan Map Exhibiting Earlier and Deliberate Properly Places at Laguna Verde

An essential facet of the PFS is to utilise information that can be generated from the Firm´s DLE pilot plant in 1H 2024. The pilot plant, with a capability of 1 tonne/month LCE in eluate, is of adequate scale to permit information from the method optimisation for use inside the design for a full scale manufacturing plant. Working the pilot plant and producing a top quality lithium chloride eluate over a sufficiently excessive variety of cycles ought to confirm the DLE course of. The eluate from the DLE pilot plant will then be transformed to battery grade lithium carbonate at an current third celebration facility in North America. This programme will present product samples for potential strategic and offtake companions for testing and to start out their product qualification course of.

The battery market is quickly evolving with completely different battery sorts requiring completely different lithium merchandise. The PFS can even consider the anticipated development charges for these completely different lithium merchandise and decide which merchandise are to be produced by the Laguna Verde venture.

Based mostly on the extra research and work programmes which might be being undertaken to help the PFS, completion is now focused for Q3 2024. Completion of the PFS, together with course of and product verification, are the important thing steps the Firm goals to finish in 2024 which can present the strongest foundation for participating high-quality strategic traders for product offtake and venture funding agreements.

**ENDS**

Beaumont Cornish Restricted (“Beaumont Cornish”) is the Firm’s Nominated Adviser and is authorised and controlled by the FCA. Beaumont Cornish’s tasks because the Firm’s Nominated Adviser, together with a accountability to advise and information the Firm on its tasks below the AIM Guidelines for Firms and AIM Guidelines for Nominated Advisers, are owed solely to the London Inventory Alternate. Beaumont Cornish just isn’t appearing for and won’t be accountable to every other individuals for offering protections afforded to clients of Beaumont Cornish nor for advising them in relation to the proposed preparations described on this announcement or any matter referred to in it.

Notes

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and growth firm advancing sustainable lithium initiatives in Chile for the clear power transition. Dedicated to net-zero, CleanTech Lithium’s mission is to supply materials portions of battery grade utilizing sustainable Direct Lithium Extraction know-how, powered by renewable power, the Firm plan to be a number one provider of ‘inexperienced’ lithium to the EV and battery manufacturing market.

CleanTech Lithium has 4 lithium initiatives – Laguna Verde, Francisco Basin, Llamara and Salar de Atacama – positioned within the lithium triangle, the world’s centre for battery grade lithium manufacturing. The 2 main initiatives: Laguna Verde and Francisco Basin are located inside basins managed by the Firm, which affords important potential growth and operational benefits. All 4 initiatives have direct entry to current infrastructure and renewable energy.

CleanTech Lithium is dedicated to utilizing renewable energy for processing and lowering the environmental impression of its lithium manufacturing by utilising Direct Lithium Extraction. Direct Lithium Extraction is a transformative know-how which removes lithium from brine, with increased recoveries and purities. The tactic gives brief growth lead instances, low upfront capex, with no in depth web site development and no evaporation pond growth so there isn’t a water depletion from the aquifer. www.ctlithium.com

Source

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