CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) has kicked off a significant new drilling programme at its Laguna Verde project, located in ‘the lithium triangle’ in Chile.
The start of work on the first of five planned wells, LV07, marks a strategic step in upgrading the site's JORC-compliant resource estimates, the company noted.
It aims to refine the existing resource base into reserves, a critical element in the project's pre-feasibility study and its production plan.
The company, meanwhile, highlighted that a key component of the programme is use of reinjection testing, which it said aligns with its commitment to sustainable and environmentally friendly methods.
"We are excited to start off the new year with another active drilling programme at our flagship project, Laguna Verde,” chief executive Aldo Boitano said in a statement.
“The aim of this drilling programme is to upgrade the current JORC resource, converting resources into reserves.
“This provides a key input into the pre-feasibility study and will inform the environmental impact assessment, all of which will support CTL's conversations with potential strategic partners.”
Boitano added: “We are working with a leading international consultant, Montgomery & Associates, to deliver the resource drill programme which will include reinjection testing.
“The reinjection of spent brine is key to minimizing aquifer depletion.
“Furthermore, we are expecting results from our DLE test work and first eluate production from our pilot plant in the coming weeks.
“We are looking forward to a busy and highly productive 2024."