Announcement Date: 2022-10-03
Announcement Type: Deposit Estimation
Announcement Code: (other Code)
Company name: CleanTech Lithium Plc
Project name: Francisco Basin
Location: Chile
Commodities: Lithium
Highlight: Initial Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: CleanTech Lithium PLC (AIM:CTL), an exploration and development company advancing the next generation of sustainable lithium projects in Chile, announces a maiden JORC Inferred resource estimate at its Francisco Basin Lithium project, Chile. Francisco Basin is located within 100km of the Company´s more advanced Laguna Verde project, as shown in Figure 1. The project has excellent infrastructure with road access to the site and existing power and water supply lines traversing the project area. There has previously been no lithium exploration drill hole completed at the project. Surface sampling indicated elevated lithium concentrations and a geophysics programme was undertaken which generated a low resistivity target zone of 10 – 15km2, which was interpreted to be a hypersaline sub-surface aquifer. The resource estimate is based on the results from the completion of the first well (well FB01) of an intended four well resource drill programme at the project. The resource estimate is in the Inferred category under the JORC code. Table 1 outlines the resource reported in accordance with the JORC Code (2012) and estimated by a Competent Person as defined by the JORC Code. As the Company’s interest is 100%, the resources are stated both gross and net attributable.
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