Highlights:
- Upgrade commenced of the Prairie Project’s JORC Inferred Mineral Resource of 4.1 million tonnes of lithium carbonate equivalent (LCE) at 111 mg/L Li (the highest quality inferred lithium brine resource in Canada and a world class lithium resource.)
- Commenced Pre-Feasibility Study (PFS) to confirm the internally produced economic model with highly robust economic numbers anticipated.
- Existing lithium brine production is of high quality with costs of production in the lowest 25% of lithium producers.
- Contract signed with third party DLE provider to mobilise pilot plant to Canada. Phase 1 and Phase 2 scale testing has produced exceptional results and Phase 3 with the operation of a Pilot Plant is planned for November 2023.
- Continuing Development of the Company’s proprietary Direct Lithium Extraction (DLE) technology with the Canadian pilot plant being relocated to the Lithium Research Centre (LRC) in Phoenix, Arizona.
Arizona Lithium Limited (ASX: AZL, AZLOA, OTC: AZLAF) (“Arizona Lithium”, “AZL” or “the Company”), a company focused on the sustainable development of two large Lithium development projects in North America, the Big Sandy Lithium Project (“Big Sandy”,) and the Prairie Lithium Project (“Prairie”), is pleased to announce an update on its Prairie Lithium development project.
AZL has been evaluating and testing multiple DLE technologies to determine the appropriate DLE to deploy at it’s 100% owned Prairie project located in Saskatchewan, Canada. The Company evaluated DLE technologies based on:
- Extraction efficiency
- Lithium recovery
- Contaminant rejection
- Technology readiness
- Lithium recovery.
To date the Company has completed the first two phases of offsite testing on the selected DLE technology, which have yielded highly encouraging results. Subsequently, AZL has elected to move forward with a larger third phase DLE pilot in Saskatchewan planned for November 2023, with the goal of the pilot being able to use the data to scope and design how a commercial DLE facility may function on its Prairie Project.
DLE evaluation is of the highest priority for AZL’s Board and management team as it could immediately unlock significant value for the Company and shareholders. The process of evaluating third party DLE providers and the development of AZL’s proprietary DLE technology, will be run in tandem to maximise the potential economic benefit for shareholders.
Arizona Lithium Managing Director, Paul Lloyd, commented: “We have a world class resource at the Prairie Lithium Project that carries with it a significant in-ground value. Our priority is to unlock that in-ground value for the benefit of all shareholders with the implementation or development of DLE technology. We are also very focused on the pathway to production and Saskatchewan ticks the following boxes:
- One of the top mining jurisdictions
- Access to robust infrastructure
- Historic oil and gas production profile
- Highly supportive Provincial government seeking to replace oil and gas revenues
- Well developed permitting process for oil and gas industry
With the ability to scale up production on a modular basis, the Prairie Lithium brine project could potentially deliver significant returns without the utilisation of large capital expenditures.”
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
