CleanTech Lithium PLC (AIM:CTL, OTCQB:CTLHF), which is developing sustainable lithium projects in Chile, saw its shares nudge 5% higher after it unveiled promising results from its pump test programmes at Laguna Verde and Francisco Basin.
Furthering its efforts, it is also set to begin a brine reinjection test at Laguna Verde - a first in Chile's lithium sector.
The completed fixed-duration pump tests at Laguna Verde and Francisco Basin have offered essential data for hydrogeological models, including aquifer transmissivity, investors were told.
This information is crucial to predict bore field flow rates for commercial brine extraction. The transmissivity values gleaned from the tests at Laguna Verde align with the earlier modelled bore field flow rates of 30L/s, supporting the scoping study from January 2023, the company said.
Meanwhile, the pump test at Francisco Basin recorded high transmissivity, equating to an estimated flow rate of about 80L/s in a well structured for a project operation stage. This high flow rate bodes well for the ongoing Francisco Basin scoping study, CleanTech said.
Imminent now is the commencement of a two-stage brine reinjection test at Laguna Verde. Brine reinjection into aquifers plays a critical role in Direct Lithium Extraction (DLE) operations, and with this test, CleanTech Lithium is positioning itself at the forefront of the sector in Chile.
Aldo Boitano, the company's chief executive, said: "The pump test results at Laguna Verde and especially at Francisco Basin surpassed expectations.
"With the commencement of the first-ever reinjection test in Chile just around the corner, this could be a game-changing moment for Chile's lithium sector, a considerable move forward for the company and the wider lithium industry to produce lithium with minimal environmental impact; what we refer to as 'green' lithium.
"We will provide another update shortly on our drill programme results and progress at all three of our projects, which will be followed by updating the market on JORC upgrades from Laguna Verde, as well as JORC upgrades and the Scoping Study for Francisco Basin."
Additional updates on the drill programme progress at all three projects, including the laboratory assay results for the 2023 programme at Laguna Verde, are expected soon.
At 8.49 am, the shares were changing hands for 46p, up 2p.