CleanTech Lithium PLC (AIM:CTL, OTCQB:CTLHF) has reported record levels of activity across its three simultaneous drilling and development programmes in Chile.
Noting that the Chilean government is set to prioritise direct lithium extraction (DLE) projects for the development of future projects in the country, the exploration and development company said it fully supports the government's prioritisation due to the potential environmental and social benefits.
"This confirms the company is in a favourable position to deliver on its ambition to become a green supplier of lithium to the EV market," said chief executive Aldo Boitano.
Work continues with other critical activities including preparations for a DLE pilot plant, with ongoing environmental impact assessment work and the hydrogeological studies at its two flagship assets, and with preparations underway for the installation and commissioning of a pilot plant to produce 1 tonne per month of battery-grade lithium carbonate, as part of its lab scale and demonstration programs with processing partner Sunresin.
The AIM- and OTC-listed company said it is carrying out resource drilling programmes in Laguna Verde and Francisco Basin, with a drilling contractor engaged to undertake exploration at Llamara.
The resource drilling programmes at Laguna Verde and Francisco Basin are well advanced, with upgraded resource estimates expected by the end of the second quarter.
The pre-feasibility study at Laguna Verde was also said to be progressing well and expected to be completed before the end of 2023. To strengthen its environmental, social, and governance (ESG) efforts, the company is forming an ESG committee to ensure accountability across all factors, while its community relations team has been bolstered as well as opening a local community office in Copiapó.
Boitano hailed the levels of activity, with six wells being planned, drilled, completed or tested simultaneously.
He said the board appointments, ESG and community relations teams, along with the growth in its operational team in Chile, mean "we can continue making headway across all three CleanTech Lithium projects".