Volt Lithium (VLT.v VLTLF) is green today with above average volume following the release of its initial resource report indicating 4.3M tonnes of lithium resource with concentrations up to 121mg/L at its Rainbow Lake Property!
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
VLT intends to focus development on the areas containing the highest lithium concentrations to drive strong economic returns and robust cash flows
This represents a "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
Posted on behalf of Volt Lithium Corp.