Vulcan Energy Resources Limited: Maiden Indicated Lithium-Brine Resource at the Insheim Licence, Vulcan Zero Carbon Lithium™ Project
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Highlights
- Maiden Indicated Lithium-Brine Mineral Resource Estimation completed at the Insheim License, subject to Vulcans recent agreement with the Insheim Geothermal Plant owner-operator Pfalzwerke geofuture GmbH.
- Indicated Mineral Resource of 722,000 t of contained Lithium Carbonate Equivalent (LCE), at the Insheim Licence with a lithium brine grade of 181 mg/l Li.
- Vulcans combined global Resource now estimated at 13.95 Mt LCE (Indicated & Inferred) at 2 of 6 licences, the largest JORC-compliant Lithium Resource in Europe.
- Scoping Study completion on track for completion in Q1 2020.
- Vulcan is the fastest growing lithium project in the world and is leading the industry with its Zero Carbon Lithium Project.
Managing Director, Dr. Francis Wedin commented: With Vulcans Maiden Indicated Mineral Resource Estimate at Insheim, we are continuing to advance our Zero Carbon Lithium project at a rapid rate. The use of data from producing wells at Insheim allows for increased confidence in the resource category used. It increases the size of the JORC lithium resource at the Vulcan Project, already easily the largest in Europe, and increasingly highlights the potential for it to be the primary source for the European battery industrys lithium hydroxide needs, via a low-impact, Zero Carbon Lithium process powered by and sourced from geothermal wells. The supply-demand dynamic is compelling: European lithium-ion battery production is the fastest growing in the world, with new capacity plans announced regularly, but this market has zero local supply of battery-quality lithium hydroxide. We next look forward to updating our shareholdes on our Scoping Study, the results of which are on track to be reported this quarter.
Investor Relations Europe
Dr Eva Reuter
Friedrich Evert Anlage 35-37
Tower 185
60327 Frankfurt
e.reuter(at)dr-reuter.eu
+49 (0) 69 1532 5857
To view entire original news in English language, please follow the link: https://www.asx.com.au/asxpdf/20200120/pdf/44dcvqjbp4k9yf.pdf
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