Significant increase in potential for VLT Having just release the initial resource report indicating 4.3M tonnes of lithium resource with concentrations up to 121mg/L at its Rainbow Lake Property, the potential for Volt Lithium (VLT.v VLTLF) has increased significantly.
To drive strong economic returns and robust cash flows, VLT will be focusing development on the areas containing the highest lithium concentrations.
Key Highlights:
- 4.3M tonnes of LCE from Devonian aged Sulphur Point, Muskeg and Keg River (the “Elk Point Group”) aquifers
- Estimated 99.0 billion barrels of brine (15.7B cubic meters) which is more than 20 billion barrels higher than previously estimated
- Lithium concentrations as high as 121 mg/L & estimated average associated lithium concentration of 51 mg/L.
- The Inferred Mineral Resource equates to 215 times the estimated peak production of 20,000 tonnes per year, demonstrating the sheer size and scale of this lithium asset.
- Results from the current pilot project are anticipated before the end of Q2/23.
- Total land position at Rainbow Lake equals ~430,000 acres (~670 sections) and features over 1,300 producing wells
This is a "landmark milestone and defining moment" for VLT, underpinning their commitment to be an integral part of the clean energy transition and, as VLT CEO and President, Alex Wylie, commented:
“With this Technical Report in hand, we have a strong foundation to continue developing our assets with the goal of increasing the resource estimate and further expanding our high lithium concentrations. We are at a true inflection point in Volt’s journey as we advance our goal of becoming North America’s first commercial producer of lithium from oilfield brine, which will set the stage for the Company to secure additional assets and oil and gas company partnerships where we can apply our proprietary technology to target the efficient and profitable extraction of lithium from brine.”
VLT's strategic transformation to pave the way for its lithium production and its shift toward becoming North America's first commercial producer of lithium from oilfield brine has strongly positioned them in the lithium supply chain with a short timeline to production
Plus, VLT's proprietary, next-generation IES-300 DLE technology achieves 93% lithium extraction while reducing the amount of re-agent required to treat oilfield brine as it enters the extraction process, resulting in lower operating costs and enhancing the project's economics.
As a crucial component in the future of clean energy and electric vehicles, lithium is a compelling investment opportunity as the world is shifts its focus toward renewable energy sources, accelerating the demand for EVs.
Additionally, as the lag between commodity price signals and changes in supply is widening, our economy starting to show signs of being in the early stages of a commodities super cycle; an event that will likely exacerbate lithium's supply deficit.
The surge in demand for lithium presents a unique chance to capitalize and, with a technically-focused strategy targeting profitable commercial production of lithium from oilfield brine ensuring significant growth potential, VLT is well-positioned a stable investment with long term production potential.
News Release: https://voltlithium.com/wp-content/uploads/2023/05/23-05-18-2023-Volt-Resource-Report_Final.pdf
Posted on behalf of Volt Lithium Corp.