Latest news with #GreenTechnologyMetals
The Australian
7 days ago
- Business
- The Australian
GT1 produces battery-grade lithium hydroxide
Special Report: Green Technology Metals' piloting testwork on concentrate from its Seymour project in Canada has produced battery-grade lithium hydroxide. GT1 produces lithium hydroxide using ore from its Seymour project in Canada Company plans to use testwork in upcoming pre-feasibility study Partnership with downstream player EcoPro puts GT1 ahead of the competition A total of 600kg of Seymour concentrate was processed through the pilot-scale facility and confirmed the process flowsheet of EcoPro Innovation, producing exceptional overall recoveries averaging >94%. Battery-grade 56.5% LiOH.H2O was achieved with low impurities. Plus, the concentrated spodumene was highly amenable to various process steps indicating the lower end of operational costs to remove required impurities. 'This outcome is the result of hard work from our team over the past 12 months, beginning with the bulk sample extraction from Seymour, concentrated replicating our proposed concentrator flowsheet in a different province and then co-ordinating with EcoPro on their testwork program and piloting facility based in Pohang, South Korea,' Green Technology Metals (ASX:GT1) managing director Cameron Henry said. 'The concentrate was then tested, analysed and processed through the pilot facility to produce the final product.' Given a bulk sample from the company's Root project has already been taken, the next work phases will include piloting to produce a 5.5% Li2O concentrate. This second pilot program at EcoPro's facility is aimed at confirming the Root project's concentrates can also be readily converted. De-risked development opportunity for North America GT1 said the opportunity to complete testwork and piloting of its ore and concentrates with a downstream partner demonstrated the strategic nature of the partnership and the advantage the company had over competitors that didn't have the ability, knowledge or capability. It strongly believes having an integrated solution requires the ability to ensure that the downstream component is designed to ensure that the mine concentrates can be processed efficiently and cost effectively to end user requirements. The piloting program will be used in pre-feasibility study (PFS) development and marketing samples for additional future offtake agreements. 'The results confirm the high quality of our ore and concentrate product and will be utilised in the development of the final design criteria for our PFS on the proposed lithium hydroxide conversion facility,' Henry said. 'The advantage that GT1 has with such a proven partner in the conversion of raw materials into battery-grade lithium chemicals is a partnership that is heavily underrated and undervalued. 'Together with GT1's mine and concentrator development expertise and EcoPro's knowledge in their area of conversion creates an extremely valuable and derisked development opportunity for Ontario and the North American EV market. ' Based on the successful testwork and piloting program follow-up work will continue at EcoPro's testing facility to optimise operating conditions, reagent addition and product definition. The partners are also considering a scaled-up plant design within the proposed Thunder Bay conversion facility in which both GT1 and EcoPro may enter into a joint venture to develop post the completion of the PFS. This article was developed in collaboration with Green Technology Metals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
News.com.au
24-07-2025
- Business
- News.com.au
Resources Top 5: Rubidium set to unlock further value for Green Technology Metals
A maiden resource of 23,000t at Seymour in Canada ranks amongst the top rubidium deposits globally TOR has returned up to 5m at 27.93g/t gold in drilling at the Paris project in WA Silver exploration at Elizabeth Hill project will be accelerated after $6.125m was raised in a placement Your standout small cap resources stocks for Thursday, July 24, 2025 Green Technology Metals (ASX:GT1) Green Technology Metals is confident of unlocking additional critical minerals value from Seymour lithium project in Ontario, Canada, after defining a maiden rubidium resource of 23,000t. The addition of rubidium to Seymour's substantial lithium resource of 10.3Mt at 1.07% Li2O is set to add a new dimension to value calculations for the project and for GT1 with shares advancing 29.63% to a daily top of 3.5c before closing at 3c. Rubidium is a critical mineral with essential uses in defence such as night vision imaging and radiation detection, potential use for chemical storage in hydrogen batteries and to replace caesium. As a high-value critical mineral, rubidium is trading at a significant premium to lithium, with high-purity material priced at about US$1060/kg. The market is expected to grow at a compound annual growth rate of 5.6% from US$4.63bn in 2023 to US$8bn in 2033. Besides traditional applications in defence, aerospace applications, advanced electronics and the biomedical sector, its use is expanding into emerging technologies such as quantum computing, advanced battery chemistries and next-generation electronics. GT1 will be one of few companies to integrate rubidium recovery as a by-product of lithium operations, enabling it to benefit from limited global supply, its inclusion on critical minerals lists in the US and Japan, Seymour's strategic location close to the large and growing US market, and robust trade and economic ties between Canada and Japan. The Canadian government's recognition of rubidium as a critical mineral also boosts the company's ability to potentially access additional strategic funding streams to advance Seymour. Despite the encouraging market factors, there are only a few rubidium deposits known globally including some in Australia. Even China – a significant producer – continues to import rubidium. Seymour's maiden resource of 8.3Mt at 0.27% Rb2O includes 6.2Mt at 0.28% in the indicated category and was defined following a detailed review of historical exploration data and metallurgical testwork. The resource ranks amongst the top rubidium deposits globally and represents a valuable byproduct that can generate low-cost revenue to support GT1's core lithium strategy. Torque Metals (ASX:TOR) A new 12-month high of 28c was reached by Torque Metals, a 40% increase on the previous close, after returning up to 5m at 27.93g/ gold at the Paris project in WA. This result from 503m in the second hole of TOR's current drilling program was within 12m at 12.49 g/t Au from 495m and a broader zone of 44m at 3.75 g/t from 464m. This hole, 25PRC206, which has extended mineralisation by about 240 metres beyond an historical intercept of 16m at 7.95 g/t, demonstrates the robust continuity of high-grade mineralisation at depth and along strike. The hole also intersected a new mineralised lode, north of Paris main, interpreted as an extension to the west of Paris north lode, returning 4m at 2.16 g/t from 301m. 'These latest results from Paris demonstrate the strong continuity of high-grade gold mineralisation well beyond the previous limits of drilling,' TOR managing director Cristian Moreno said. 'To intercept 5m at 27.93 g/t gold within a much broader mineralised halo is extremely encouraging and validates our down hole electromagnetics, geological and structural targeting approach. 'The hole ended in robust mineralisation, which we are immediately following up with diamond drilling to ensure we fully test this zone to depth and along strike. The new DHEM plate indicates potential for further extensions. 'As we progressively step out, we will continue to utilise DHEM to directly target our drilling.' Paris is strategically positioned near major gold producers, including Westgold's Beta Hunt operation and St Ives Goldfields, reinforcing the project's potential for future development. The current resource stands at 250,000oz at 3.1 g/t, with mineralisation remaining open in multiple directions, highlighting the potential for further resource expansion. West Coast Silver (ASX:WCE) Silver exploration at the Elizabeth Hill project of West Coast Silver in WA's Pilbara will be accelerated after $6.125m was raised in a placement. This provides strong validation of the company and its project, which hosts a past producing high-grade silver mine, and has been welcomed by investors with shares hitting a 12-month high of 17.5c, a lift of 16.67%. The placement to new institutional and sophisticated investors also enticed strong demand from existing investors with applications being scaled back. This was even more impressive considering the placement was at 11c per share, a 0.04% premium to the 15-day volume weighted average price to July 21, 2025, contrasting with most placements that are at a discount. 'We have been generating outstanding results at Elizabeth Hill and the proceeds of this capital raising will enable us to unlock the value much faster,' executive chairman Bruce Garlick said. 'There is clearly immense scope to grow and further explore the project both near mine and regionally. 'Given this potential, we want to move as quickly as possible on the exploration front and the successful placement allows us to do this.' GreenTech Metals (ASX:GRE) A systematic review of historic and recent soil and rock chip samples has highlighted anomalous gold, silver and arsenic trends at the Ruth Well project of GreenTech Metals in WA's Pilbara. The gold trend aligns with a fertile regional structural zone known to host gold occurrences over a strike of 28km and includes the 374,000oz Carlow Castle gold deposit. Rock chip assays include 5.04g/t, 1.61g/t, 1.50g/t, 1.42g/t and 1.13g/t gold. These confirm that gold is associated with the gold soil anomalism. The gold soil trends are sufficiently defined to support focused follow-up mapping and sampling aimed at identifying the most prospective parts of the structural zone for potential initial drill testing. While some lithium soil trends within the Ruth Well tenements have been partially cleared by previous heritage surveys, additional surveys will be planned to ensure all targeted areas are covered. Ruth Well is 15km south of Karratha and 25km north of GreenTech's Whundo copper-gold-zinc VMS-style deposit. GRE shares were 59.5% higher to 11c. The first step of a systematic exploration program at the Mpanda Copper-Gold Project in Tanzania has been taken by Resource Mining Corporation with 1000m of rotary air blast (RAB) drilling underway. This first-pass orientation work is focusing on previously identified anomalous areas of the Stalike and Kabungu prospects with samples to be be assayed for gold and copper amongst other elements. Holes are planned to a nominal depth of 40 metres at Stalike and 30 metres at Kabungu, and will be drilled to fresh rock. Shares reached 1.8c, a 38.5% increase on the previous close. 'The very large number of historical workings across our project area is a clear indication of mineralisation at depth and it's our objective to define multiple areas of interest,' executive chairman Asimwe Kabunga said. 'As well as the drilling, we are witnessing continued third-party interest in Mpanda as well as renewed focus on our nickel prospects, which is also an encouraging development.'
News.com.au
29-06-2025
- Automotive
- News.com.au
Lithium customers are still jostling for offtake, suggesting long term outlook is strong
Lithium prices are tumbling but customers involved in the EV supply chain are more focused on lithium grade and purity Lithium-ion batteries require battery-grade lithium with a purity of 99.5% or higher Juniors like Green Technology Metals and Cosmos Exploration continue to demonstrate the strength of their projects despite challenging market conditions While ASX lithium prices fall and retail investors flee, the world's battery makers are quietly locking in supply deals, with expected demand of three million tonnes by 2030 having the potential to make today's prices look like a bargain. To put the current lithium 'crash' in perspective, at US$8800 per tonne, today's prices are still nearly double the $4450/t lithium was fetching in 2012. And despite an apparent flood of material, customers are still eager to lock up future supplies, worried the market could flip on its head as demand soars. Pursuit Minerals (ASX:PUR) managing director Aaron Revelle told Stockhead, its partners involved in the EV supply chain are less concerned about the depressed market and more focused on who can deliver the ultra-pure product that tomorrow's batteries demand. Revelle said Chinese buyers, who dominate global lithium demand, are hunting for lithium chloride to refine into battery-grade material of 99.5% purity or better, which is where ASX juniors like Pursuit are separating themselves from the pack. Pursuit's Rio Grande project in Brazil has already demonstrated it can deliver 99.5% lithium carbonate, putting the asset in the premium tier offtakers are actually chasing. That's great news for future producers in the South American brine space. 'Chinese buyers are going into the South American salars which have a history of producing the higher-grade material, especially from the more established projects like Olaroz or Pheonix in Argentina,' Revelle said. 'These mines are producing 99.5% lithium carbonate and the companies that own them are upgrading the product to the 99.95% battery grade." Proven quality By remaining active even with prices at a low ebb, Pursuit is ensuring Rio Grande is ready to feed a high quality product into the flobal market. 'When you look at Rio Grande, the attraction is that it's already proven it can produce 99.5% technical grade lithium carbonate. It has a long life, it's low cost, robust and has over a million tonnes of resource with potential upside,' he said. 'You can't find projects like ours anymore where we have what we call tier-1 chemistry profile where the brine is 450-500mg/l Li, one of our drill holes had an intercept of 620mg/l Li which is getting towards the higher end of the lithium content. 'And there's still plenty of upside at our project because we were originally going to drill around six to eight holes and we've only drilled two of that program.' Pursuit is now transitioning to the next phase of development and commercialisation at the asset, after dispatching lithium carbonate samples to multiple prospective offtake and strategic partners earlier this month. Initial pilot plant production at the company's 250tpa pilot plant in Salta churned out 15kg of lithium carbonate at 98.9% purity, validating everything from their Rio Grande brine quality to their processing tech. Lithium's wild ride Revelle believes the long-term fundamentals for lithium are intact. And, he is no stranger to the lithium rollercoaster. The seasoned operator has weathered three or four price cycles since founding Argentinian-lithium focused company Centaur Resources in 2018, which sold to Arena Minerals for a tidy $23m in 2020. Two years later, with no further work done and when lithium prices caught fire, Arena was acquired by Lithium Americas Corp for US$227m. 'That's the sort of environment you'll see,' he said. 'What history has shown us is that lithium is immature – prices go up, supply comes online, price drops, then a couple years later demand catches up and more supply is needed, price spikes and it repeats the cycle. 'We're seeing surging EV sales where it's estimated to hit 7 million units globally in the first five month of 2025, that's quite significant – that's a 28% year on year growth rate,' he said. 'When you're looking at the horizon, in the next five years lithium demand is to reach 3-4x, and it's not a question of will it happen, but when it will happen. 'We'll probably see another couple of cycles before it stabilises but there's definitely another spike coming and with added project scarcity, there'll be more economies of scale introduced with more M&A to take place, and more consolidation in Argentina.' Lithium players still inking deals Plenty of other companies have also managed to attract potential partners, enter offtake deals and agreements despite the market carnage, showing interest in the metal remains strong. Argosy Minerals (ASX:AGY) has struck a spot sales contract with a Hong Kong chemical company for 60 metric tonnes of premium battery-grade lithium carbonate (>99.5% purity) from its 77.5%-owned Rincon project in Argentina's Salta province. The company is developing the 12,000tpa project with engineering and feasibility works currently underway to achieve a final investment decision. Rincon holds a total resource of 731,801t of LiCO3 with a weighted mean average lithium concentration of 329mg/L, which includes an indicated resource of 640,330t LiCO3 with a weighted mean average lithium concentration of 327mg/L. In December last year, Cosmos Exploration (ASX:C1X) signed an exclusive option agreement to acquire EAU Lithium, a private lithium development company part owned by Vulcan Energy Resources (ASX:VUL) with a technology-testing agreement with Bolivian state-owned company Yacimientos de Litio Bolivianos (YLB). This agreement enables EAU to test lithium brines from Salar de Coipasa, Salar de Empexa and Salar de Pastos Grandes salars – some of the largest salars in the country. The Bolivian Government, through YLB, is seeking to unlock its vast lithium resources to drive economic growth and establish Bolivia as a global leader in the lithium supply chain. Previous extraction attempts using chemicals plus solar evaporation-based methods have faced challenges due to the high magnesium content in the salars. By partnering with EAU lithium and using Vulcan's DLE tech, YLB aims to overcome these technical hurdles and capitalise on rising global lithium demand while reducing environmental impacts. So far, five cubic metres of brine samples have been shipped from Bolivia's lithium salars to Germany for testing. Up in Canada, Green Technology Metals' (ASX:GT1) hard rock lithium assets in Ontario are on the doorstep of North America's EV sector. Leading South Korean battery materials group EcoPro is a major shareholder, while GT1 has already locked in a lithium offtake agreement with LG Energy Solutions (also a shareholder) for 25% of its spodumene concentrate production from the Seymour lithium project for five years. First production at Seymour, home to a 10.3Mt at 1.03% Li20 resource, is targeted for 2026, with DFS work currently underway. It is GT1's flagship project and plays a central role in the Eastern Hub strategy, which involves developing multiple satellite sites to supply long-term feedstock for a planned concentrator at the site. Meanwhile, GT1's Western Hub, slated for operation in 2029, centres around the Root Bay deposit and will serve as additional feed for a proposed lithium conversion facility. An updated preliminary economic assessment reinforced the Root lithium project as a viable, standalone project delivering an increase in NPV at the Root lithium project to US$668m, after tax IRR of 53.5% and a payback period of three years. At Stockhead we tell it like it is. While Pursuit Minerals, Cosmos Exploration and Green Technology Metals are Stockhead advertisers, they did not sponsor this article.
Yahoo
22-05-2025
- Business
- Yahoo
Xplore Completes New High-Resolution Magnetic Survey and Identifies High-Priority Targets on Trend with Root Bay Deposit at its Surge Project, Ontario
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2025) - Xplore Resources Corp. (TSXV: XPLR) ("Xplore" or the "Company") is pleased to announce the completion of a new high-resolution airborne magnetic survey at its Surge Lithium Project in northwestern Ontario (Figure 1). The survey results show linear magnetic highs extending from the Green Technology Metals Root Bay lithium deposit and through the Xplore property. The trend extends for over 17 km on the Surge Project and is interpreted as iron formation and greenstone dismembered with abrupt magnetic breaks. These breaks match spatially with known pegmatites drilled by Green Technology Metals and may represent pegmatite intrusions, defining new high-priority targets for follow-up exploration. This new magnetic data provides greater definition of regional structures and highlights geological characteristics similar to those observed near pegmatites intersected at Green Technology Metals' Root Bay East drilling, adjacent to the Surge Project. Field crews are scheduled to mobilize this month to begin mapping and prospecting these new targets. Survey Highlights A total of 476 line-kilometers were flown at 50 meter spacing over 214 hectares at the Surge Project. The new data was leveled and merged with existing high-quality magnetics, providing enhanced geological context across a broader 5,400 hectare area. Several structural features and magnetic discontinuities have been identified as priority targets for the 2025 field program. Devin Pickell, President and CEO of Xplore, commented, "This magnetic survey will be instrumental in advancing exploration in the Root Lake area. Our field crews will use this high-resolution data to prioritize and ground truth newly identified structural targets as we work toward a potential new discovery." Figure 1. High-resolution magnetic survey results at the Surge Project highlighting interpreted structural features and priority target areas for ground follow-up. To view an enhanced version of this graphic, please visit: About the Surge Lithium Project The Surge Lithium Project is Xplore's flagship property located in the rapidly emerging Root lithium district of northwestern Ontario. The project covers approximately 10 km of strike length along the eastern extension of the Root Bay-Root Bay East lithium trend and is strategically positioned adjacent to Green Technology Metals' Root Bay Project, which currently hosts a JORC-compliant resource of 10.1 Mt at 1.29% Li₂O. Recent high-resolution Lidar combined with airborne magnetics, have significantly improved the geological understanding of the Surge Project. Field mapping and prospecting have confirmed the presence of key structures and greenstone host rocks, with several priority targets identified less than 50 m from lithium mineralization reported at Root Bay East. The technical content of this news release has been reviewed and approved by Devin Pickell, the President and CEO of the Company and a Qualified Person pursuant to National Instrument 43-101. About Xplore Resources Xplore Resources is a North American lithium exploration company listed on the TSX Venture Exchange under symbol XPLR. The Company has a prospective land package in the emerging Root Bay lithium district located in northwest Ontario. Xplore's flagship property is the Surge lithium project, on trend and near two lithium deposits and just 25 m from a new lithium discovery. The Company is led by a highly experienced management team with a strong track record of growing shareholder value. ON BEHALF OF THE BOARD OF DIRECTORS, Devin Pickell, CEOXplore Resources Corp. For further information on Xplore, contact: Telephone: 604-678-5308Email: info@ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Caution Regarding Forward-Looking Information Certain statements contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", "potential", "indicative" and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Such forward-looking information is based on the current expectations of management of the Company. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of risks and uncertainties, including without limitation risks and uncertainties inherent in the exploration and development of mineral properties, fluctuations in commodity prices, counterparty risk, market conditions, regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. In making the forward-looking statements in this press release, the Company has applied several material assumptions. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. To view the source version of this press release, please visit
News.com.au
01-05-2025
- Business
- News.com.au
ASX Resources Quarterly Wrap: Lithium green shoots despite market pull-back
The lithium market is still in the doldrums but lithium focused resources stocks are staying active with exploration Others are safeguarding capital to capitalise on future market recovery We survey quarterly reports to bring you highlights from up and comers like Pursuit Minerals, Green Technology Metals, Cosmos Exploration and First Lithium Lithium prices are deep into the cost curve by any metric, and a number of lithium stocks are pushing ahead with exploration despite the downturn in the hope of arriving early to the next cycle. At the upper end of town, Liontown Resources (ASX:LTR) reported solid results from its Kathleen Valley project, which declared commercial production during the quarter amid a volatile trading environment. Revenue rose by 17% to $104m, with $14m in cash flow generated from operations. The company produced 95,709 dmt of spodumene concentrate and sold 93,940dmt across five shipments. LTR managing director and CEO Tony Ottavino said the company is seeing consistent, positive performance across key metrics, including the shipment of over 180,000dmt of spodumene concentrate since production started, generating $205m in revenue. He added that the emerging lithium producer remains focused on streamlining costs, with operational efficiencies continuing to pay off. Lithium frontrunner Pilbara Minerals (ASX:PLS) noted a 34% drop in production volume to 125,000t at Pilgangoora as well as a 30% slide in revenue over the prior quarter to $150m. Argonaut Funds Management's David Franklyn said although Pilbara shares have dropped 41% in the past three months, there was nothing dramatic in the March quarterly report. But it continues to show that we are 'bouncing along the bottom in the lithium market'. 'It just took another step down with the recent pull back in the market. If you look at the results, I think they're doing everything right operationally,' he added. A few green shoots were also reported at the smaller end of the market, with some highlights including the successful commissioning of Pursuit Minerals' 250tpa lithium carbonate plant in Salta, Argentina. That's where we head for our wrap of the quarterlies you may have missed. Pursuit Minerals (ASX:PUR) PUR's lithium carbonate pilot plant sits within its wider Rio Grande Sur project, which is being advanced through a deliberately phased and modular development strategy that enables the company to manage capital intensity, validate process flow efficiency, and expand in alignment with market demand. Initial production from synthetic brine has kicked off, making the transition to near-term revenue generation. Progress was also made on feasibility studies to incorporate the 339% jump in new resources that were upgraded last year (1.1Mt) and a staged development plan with the company saying it remains on track for release in H1 2025. Active discussions were also held with offtake partners who made multiple product sample requests in the quarter. It also advanced numerous engineering and geological workstreams and permitting approval processes. Green Technology Metals (ASX:GT1) GT1 said it is continuing to implement cost-control measures in direct response to challenging global lithium market conditions. GT1 managing director Cameron Henry said exploration programs have been significantly scaled back, and a targeted workforce restructure has resulted in a 40% reduction in staffing levels, retaining only those roles essential to progressing core projects. 'Given the sustained challenges in global lithium markets, all key workstreams and development timelines—including any potential Final Investment Decision (FID) at Seymour—are dependent on improved market conditions and the availability of funding support from strategic partners,' he said. 'GT1 will continue to rigorously assess its cost base and project schedule, taking further action where necessary to safeguard capital and ensure the company remains well-positioned for a market recovery.' A 1 for 3.85 non-renounceable pro rata entitlement offer during the period, raising approximately $3.46 million before costs. The Entitlement Offer and Top-Up Offer closed on April 15 with strong participation from directors John Young, Cameron Henry, Patrick Murphy, and existing long-term shareholders and institutional investors. GT1 is now preparing funding applications under the Critical Minerals Infrastructure Fund (CMIF) for all three of its core projects. New applications are expected to be finalised and submitted during the upcoming quarter. Cosmos Exploration (ASX:C1X) C1X started activities that private Australian company EAU Lithium, which it acquired in December 2024, had agreed to perform under its technology agreement with Bolivian state-owned lithium company Yacimientos de Litio Bolivianos (YLB). EAU Lithium had been selected by YLB to undertake technology testing on brines from Salar de Coipasa, Salar de Empexa, and Salar de Pastos Grandes. As part of this, the company has shipped 5m3 of bulk brine samples from the three salars to Germany for testing at Vulcan Energy Resources' (ASX:VUL) facility in Germany. While these samples are still in transit from Bolivia, testing of synthetic brine formulated to replicate the major ion chemistry of the three salars is underway at the facility to provide early indications of the compatibility of Vulcan's VULSORB sorbent ahead of any future test work using the bulk brine samples. VUL's direct lithium extraction technology is being evaluated for its potential to provide a more efficient, scalable and environmentally sustainable solution for lithium recovery from Bolivia's complex brine chemistry. Successful validation of a DLE tech will represent a significant step forward for lithium extraction in Bolivia, enabling higher-yield, lower-impact processing in one of the world's largest untapped lithium resource jurisdictions. Results from the testing will support ongoing negotiations toward a proposed industrialisation agreement, which is expected to establish a long-term framework for the supply and processing of lithium-rich brine over multiple decades. This agreement would form the basis for commercial-scale development and a secure, sustainable lithium supply chain aligned with Bolivia's national development objectives. First Lithium (ASX:FL1) During the March 2025 quarter, First Lithium progressed renewals of its mining licence after the Mali government moved on March 15, 2025, to partially lift the suspension of mining permits that had been in place since September 2022. The company also received a letter from the National Director of Geology and Mines in Mali which confirmed that it could continue geophysical survey work on both the Faraba and Blakala permits in the interim while requirements for the licence renewal process were being finalised. FL1 also finalised a loan note of $1.2m via an agreement with sophisticated and professional investors. Funds will be used to finalise the licence renewal process and advance a maiden resource estimate for Blakala as well as general working capital. The resource update will include some stellar drill hits, such as strikes in the Eastern pegmatite zones including 24m at 1.53% Li2O from 129m, 28.59m at 1.51% from 117m and 9m at 1.62% from 117m. Anything above 1% Li2O is generally considered economic with only a handful of deposits reporting grades upwards of 1.4%. The loan funding will occur in three $400,000 tranches with a conversion price of $0.10 each, with interest accruing at 10% per annum and payable in stock on the same terms as the loan.
