Perth, Australia – 10 September 2024 | Arizona Lithium Limited (ASX: AZL, AZLO, OTC: AZLAF) ("Arizona Lithium" or the "Company"), a lithium exploration company working on projects in North America, is pleased to announce the commencement of drilling on Well #3 at Pad #1 of its Prairie Lithium Project in Saskatchewan, Canada. This milestone is part of the Company's plan to establish the well infrastructure that is needed for Direct Lithium Extraction (DLE) at a significant commercial scale by 2025, in line with their anticipated trajectory.
Highlights:
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Drilling Progress: Well #3 at Pad #1 is currently being drilled as an exploration well, following the successful completion of Well #2, which was drilled into the Dawson Bay Formation and converted into a disposal well.
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Drilling Infrastructure: With the drilling of Well #3, the Company will have three key wells at Pad #1: a production well, a disposal well, and a brackish water source well. These are critical components required for DLE, and were outlined in detail in the Company's Pre-Feasibility Study.
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Moving Toward Production: The current drilling program represents an essential step toward establishing an operational lithium production unit at the site. The Company is currently on track to finalise the design for the facility, move toward construction in the first half of 2025, and ultimately begin production following that.
Paul Lloyd, Managing Director of Arizona Lithium, commented: “We are excited to announce that we have started drilling the 3rd well on Pad #1. Having the first 3 wells in place on Pad #1 allows us to finalise facility design, look to facility construction in H1 2025 and production of Lithium brines shortly thereafter. Having these wells in place is another significant milestone on our path to production of lithium on Pad #1 in 2025.”
About the Prairie Lithium Project:
AZL’s Prairie Lithium Project is located in the Williston Basin of Saskatchewan, Canada, and holds a resource of 6.3 MT of LCE, comprising 4.5 MT LCE Indicated and 1.8 MT LCE Inferred2. Located in one of the world’s top mining friendly jurisdictions, the projects have easy access to key infrastructure including electricity, natural gas, fresh water, paved highways and railroads. The projects also aim to have strong environmental credentials, with Arizona Lithium targeting to use less freshwater, land and waste, aligning with the Company’s sustainable approach to lithium development.
Paul Lloyd
Managing Director
+61 419 945 395
paul@arizonalithium.com
Jane Morgan
Investor and Media Relations
+61 405 555 618
jm@janemorganmanagement.com.au
About us:
About Arizona Lithium Limited:
Arizona Lithium Limited is an Australia-based exploration company. The Company is engaged in the development of its Big Sandy Lithium Project in Arizona and Lordsburg Lithium Project in New Mexico. The Big Sandy lithium project is located on interstate I93 between Phoenix and Las Vegas, comprising 331 Bureau of Land Management (BLM) claims in Arizona, covering approximately 25 square kilometres. The Lordsburg Lithium Project comprises about 291 BLM claims covering approximately 25 square kilometres and is located in the southwest corner of the state of New Mexico and is accessed along the I10 Interstate between Tucson and La Cruces close to the New Mexico, Arizona border. The Lordsburg Project sits within the playa lake system at the northernmost end of the Animas Valley, southwest New Mexico. The Prairie Lithium project is located in southeast Saskatchewan and comprises over 350,000 acres of subsurface permits.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au