Infinity Lithium Corporation Ltd (ASX:INF) is progressing the lithium carbonate feasibility study for its San Jose project in Spain, with drilling and field work complete and pit designs being integrated into a financial model.
San Jose is being developed as joint venture between Infinity and Spanish construction and engineering group Sacyr SA (BME:SCYR).
Smaller pit designs
Advancements in technical work towards the feasibility study enable Infinity to earn a 75% interest in the project, after which Sacyr will become a contributing partner for ongoing expenditure.
A range of smaller pit designs have been created based on improvements in geotechnical understanding, allowing for steeper wall angles in final pit designs.
These are being assessed within a financial model and Infinity is confident it can report a pit which is substantially smaller in total surface area of disturbance yet deliver materially comparable economic outcomes without requiring an amendment to the mining licence application.
Growing lithium hydroxide demand
A lithium hydroxide option study was completed by Wave International last quarter, which demonstrated that San Jose can produce lithium hydroxide if desired in response to evolving lithium-ion battery technologies.
The importance of the ability to produce lithium hydroxide has been reinforced with several major lithium industry participants investing to transform Europe into a significant producer of lithium-ion batteries.
Infinity managing director Adrian Byass said: “We can see the market aligning now with opportunities for companies to invest in projects globally.
“It is increasingly important to have flexibility in meeting market demands and to recognise the window for investment is open currently.”
Infinity expects to be able to progress the option study towards a full scoping study in response to the evolving battery technology market.
The San Jose deposit is a highly advanced, previously mined brownfields development, representing one of Europe's largest lithium deposits.