Arizona Lithium Limited (ASX: AZL, AZLOA, OTC: AZLAF) (“Arizona Lithium”, “AZL” or “the Company”), a leader in sustainable lithium development, is thrilled to announce a remarkable increase in the resource size and significant upgrades at its Prairie Lithium brine project in Saskatchewan, Canada.
Key Highlights:
- Highest Grade Indicated Lithium Brine Resource in Canada: The majority of the Indicated resource is at 127 mg/L Li, marking the first known lithium brine resource to be upgraded to Indicated in Saskatchewan.
- Resource Increase: The total resource has been increased from 4.1 million tonnes (mt) of Lithium Carbonate Equivalent (LCE) to 5.7 mt of LCE, a 39% increase in size. This includes 4 mt Indicated and 1.7 mt Inferred.
- Global Impact: The total resource represents approximately 8 years of the current worldwide market for LCE.
- Pre-Feasibility Study (PFS): The large Indicated resource enables the Company to complete a PFS by the end of 2023.
- Sustainable Extraction: The unique geology of the Prairie Lithium project allows for lithium extraction without re-injecting depleted brine, ensuring resource stability and extending the life of the well network infrastructure.
- Pilot Direct Lithium Extraction (DLE) Test Plant: Operations are set to commence in November 2023.
- No Hydrogen Sulphide (H2S) or Oil Encountered: Further emphasizing the project's environmental responsibility.
This significant upgrade represents the highest-grade Indicated lithium brine resource in Canada. The majority of the targeted resource resides in the Middle Wymark Unit, with a representative concentration of 127 mg/L Li.
The geology of the Prairie Lithium project enables it to be one of the only DLE brine projects that does not require re-injection of depleted lithium brine. This, coupled with world-class fluid storage capabilities in the Williston Basin, provides the Company with multiple potential disposal options without diluting the resource in place.
Arizona Lithium Managing Director, Paul Lloyd, expressed his enthusiasm: “Immediately after acquiring the Prairie Lithium Project, we put our plans in motion to fast track the development of the Resource. Completing the first Indicated Resource upgrade in a timely and efficient manner highlights the technical capability of the team and the Company’s commitment to the production of Lithium. The combination of the Resource upgrade and the upcoming DLE pilot plant operation in November 2023 sets the stage for a very exciting second half of the year for the Company. With all of this, the PFS on the Prairie project will be completed by the end of this year.”
Arizona Lithium continues to lead the way in sustainable lithium development, focusing on the Big Sandy Lithium Project and the Prairie Lithium Project in North America. This announcement underscores the Company's commitment to innovation, sustainability, and growth in the lithium industry.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
