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Upgraded JORC Resource - Laguna Verde Li Project
Upgraded JORC Resource - Laguna Verde Li Project.
About this update from Cleantech Lithium Plc
[{"type":"text","content":"\n\n17.07.23\nCleanTech Lithium PLC (\"CleanTech Lithium\" or the \"Company\")\n \nUpgraded JORC Resource to 1.8 million tonnes of LCE at flagship Laguna Verde project,\nof which Measured & Indicated Resource increased by 39% to 1.1 million tonnes LCE,\nReinforcing economic potential\n \nCleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile for the EV transition, announces an upgraded JORC resource estimate of 1.8 million tonnes of lithium carbonate equivalent (\"LCE\") at a grade of 200mg/L lithium at the Laguna Verde project. This upgrade includes a significant increase (39%) in the Measured and Indicated resource to 1.1 million tonnes LCE, including a large increase (174%) in the Measured resource.\nThis increase to the Measured and Indicated resource will be used in the Pre-Feasibility Study (\"PFS\") which is currently underway. This study reinforces the project's path to production, capital requirements and will support CleanTech Lithium's engagement with potential strategic partners.\nSummary of the upgrade:\n\nTable 1: Comparison of Laguna Verde JORC Resource Estimates: September 2022 and July 2023\nThis resource estimate is in line with the Board´s expectations with the increase in the Measured + Indicated category now sufficient for a production rate of 20,000 tonnes per annum of battery grade lithium carbonate for a >30-year operation.\nHighlights:\n· Following successful drill programmes in 1H 2023, the JORC resource estimate at Laguna Verde has been upgraded to 1.8 million tonnes of LCE at a grade of 200mg/L Lithium\n· Measured and Indicted resource increased by 39% to 1.1 million tonnes LCE, of which Measured increased by 174% to 0.46 million tonnes LCE\n· At the PFS/DFS stage when mining reserves are calculated, Measured resources are used to develop proven reserves and Indicated resources to probable reserves, so the large increase in Measured resource bodes well for PFS/DFS stage reserve calculation\n· This follows a recent pump test programme completed on the two infill wells that supports the bore field flow rates of 30L/s that were modelled in the Laguna Verde Scoping Study announced in January 2023\n· Total cap...