Preliminary Study on the Laguna Verde Lithium Project Delayed Until 2024

CleanTech Lithium, an emerging company in lithium development, is aiming for an advanced pre-feasibility study (PFS) for its Laguna Verde project, which has now been scheduled for the third quarter of 2024. This rescheduling allows for the consideration of extensive data from the company's proprietary DLE pilot project and current geological explorations at the site. At the heart of the endeavor is the goal to establish a solid foundation for discussions with strategic partners and to optimally align the project for the definitive feasibility study (DFS). The current exploration onsite focuses on the creation of the first resource estimate according to the JORC standard, a crucial part of the upcoming study. In parallel, an experienced engineering firm Worley from Santiago is collaborating on the PFS, which also incorporates detailed investigations into other critical infrastructure issues. With this comprehensive preliminary planning, CleanTech Lithium aims to achieve significant progress with strategically important investors for the financing of the project in the near future. The advances in the drilling program and especially the further planned drilling operations, including pumping and reinjection tests, provide important insights for a well-founded resource estimate and the development of a robust hydrogeological model. Montgomery and Associates, a specialist for lithium brine aquifers, is overseeing the fieldwork and drilling investigations. Equally crucial is the work on the DLE pilot plant, the results of which will enable the company to optimize the lithium extraction process and provide potential customers with important information about the quality of the extracted lithium. CleanTech Lithium emphasizes the strategic significance of the upcoming PFS and is already working on defining the lithium products necessary for various battery types and consistent with the Laguna Verde project. With an official timetable now set for the third quarter of 2024, CleanTech Lithium is prioritizing the completion of the PFS as well as process and product verifications as key steps toward the realization of the project and the intensification of investor discussions.