VLT Achieves Milestones in 2023, Eyes Bright Future in 2024 Since its inception, Volt Lithium Corp. (Ticker: VLT.v or VLTLF for US investors) has been dedicated to developing proprietary DLE technology, establishing strategic partnerships, and leveraging its extensive experience in managing substantial volumes of water produced in oil and gas operations.
Today, Volt highlighted the substantial accomplishments it made throughout 2023 and outlined its ambitious outlook for 2024, showcasing the company's commitment to becoming a leader in direct lithium extraction ("DLE") from oilfield brines.
Full Press Release: https://voltlithium.com/wp-content/uploads/2024/01/24-01-23-2023-Milestones_FINAL2.pdf
2023 Achievements:
Lithium Extraction Success: Volt consistently achieved 90% to 99% lithium extraction from oilfield brines with concentrations ranging from 34 mg/L to 119 mg/L. This positions Volt as a cost-effective solution for processing brines from various North American reservoirs, including those with low lithium concentrations.
Demonstration Plant Commissioning: The permanent Demonstration Plant, simulating field conditions for lithium extraction, was successfully commissioned. Real-time processing of oilfield brines from diverse North American basins will expand Volt's potential commercial market and offer an environmentally friendly solution for produced water complications.
Resource Estimate and PEA: The Rainbow Lake asset boasts an inferred mineral resource of 4.3 million tonnes of lithium carbonate equivalent. The Preliminary Economic Assessment (PEA) for Rainbow Lake demonstrated a pre-tax IRR of 45% and NPV8 of US$1.5 billion.
Strategic Collaborations: Collaborations with the Zeng Lab and the Advanced Water Treatment Lab at the University of Alberta provide expertise in nanotechnology and water processing. These collaborations result in cost reduction and streamlined extraction processes.
Outlook for 2024:
Partnerships and Client Discussions: Volt aims to build on its proven ability to recover high levels of lithium from oilfield brines, advancing partnerships and client discussions.
Technology Refinement and Commercial Arrangements: Continuous refinement of DLE technology and pursuit of commercial arrangements to establish Volt as a market leader.
In-House Lithium Production: Accelerated efforts to produce lithium carbonate in-house, showcasing the efficiency of Volt's proprietary DLE technology.
Strategic Team Expansion: Strengthening the team through strategic hires to enhance expertise and capabilities.
Partnerships with Oilfield Operators: Focusing on securing partnerships with North American oilfield operators, providing financial returns and environmental solutions.
Government Funding and First Nations Collaboration: Applying for grant funding from the Canadian Government's Critical Minerals Strategy and exploring partnerships with First Nations for additional funding sources.
Volt Lithium Corp.'s innovative approach, combining hydrocarbon experience with DLE technology, positions the company for success in North America's lithium production landscape. Committed to efficiency, transparency, and sustainable shareholder value, Volt is poised for a dynamic future.
More on Volt in this CEO interview here:
Posted on behalf of Volt Lithium Corp.