CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) said a pre-feasibility study (PFS) for the Laguna Verde project in Chile will now be published in the third quarter of 2024.
This will allow the inclusion of data from its direct lithium extraction (DLE) pilot plant and drilling and field work currently underway.
Drilling now at Laguna Verde is designed to produce the first JORC-compliant reserve estimate for the project, which is an essential component of the PFS, and will also incorporate a hydrogeological model.
Data from the optimisation of process parameters for the company´s DLE pilot plant will provide important input for the PFS, Cleantech added.
The PFS is being led by Worley, an international engineering services company, from its Santiago office.
Completion of the PFS and process and product verification are key steps in 2024 to engage with high-quality strategic investors for offtake and project funding, said the statement.
Aldo Boitano, CleanTech Lithium’s chief executive, commented: "The Pre-Feasibility Study for the Laguna Verde project will be a significant milestone on our path to lithium production.
“It is the company's aim to produce the highest quality PFS to ensure the strongest possible platform for discussions with strategic partners.
“The addition of data from the company's DLE pilot plant will help achieve that aim."