Volt Lithium Announces Expanded Capabilities Beyond Rainbow Lake Enabling Oilfield Brine Processing From Across North America
24 Ottobre 2023 - 1:00PM
Volt Lithium Corp. (TSXV: VLT) ("
Volt" or the
"
Company") is pleased to provide an operational
update that confirms a continued acceleration of the Company’s
business strategy centered on achieving commercial extraction of
lithium from oilfield brines across North America. Pilot plant
operations (the “
Pilot”) for Volt’s flagship
Rainbow Lake Lithium Project (“
Rainbow Lake”) in
Northwest Alberta were successfully conducted in the spring of 2023
at our Regina, Saskatchewan facilities. Building on this Pilot, the
Company has commissioned our permanent Demonstration Plant which is
capable of testing oilfield brines from multiple basins across
North America in real-time.
This permanent Demonstration Plant incorporates
technology improvements over the proven Pilot plant for the Rainbow
Lake brine, thereby opening up a vast market opportunity to process
oilfield brines from any basin across North America. This
effectively enables Volt to use our proprietary DLE technology to
extract lithium regardless of the brine’s original lithium
concentrations. Outcomes from the permanent Demonstration Plant are
expected to also inform the Company’s preliminary economic
assessment (the “PEA”) for Rainbow Lake.
Commissioning of Permanent Demonstration
Plant
One of the most important outcomes from the
previously announced collaborations that Volt has with the Zeng Lab
and the Advanced Water Treatment Lab, both based out of the
University of Alberta in Edmonton, Alberta (the
“Collaborations”) is Volt’s ability to now extract
lithium from oilfield brines produced all across North America,
over and above Rainbow Lake. The technological advancements Volt
realized from both the Pilot and the Collaborations over the summer
of 2023 were incorporated into the design and development of the
Company’s permanent Demonstration Plant.
Volt directed a portion of the proceeds
generated through a recent financing to the commissioning of
equipment required for our permanent Demonstration Plant. The
location for the permanent Demonstration Plant in Calgary, Alberta
was selected during the third quarter of 2023, and it now serves as
our anchor facility for processing brines. The permanent
Demonstration Plant simulates field conditions for extracting
lithium from oilfield brines and converting into lithium hydroxide
and lithium carbonates.
With the knowledge and experience gained from
Volt’s successful Pilot, along with the nanotechnology and water
processing expertise afforded by the Collaborations, the Company
has been able to successfully remove contaminants from oilfield
brine being used for our proprietary direct lithium extraction
(“DLE”) technology. This is a critical step in the
DLE process, and contributes to enhancements such as operating cost
improvements driven by reduced reagent use, customized brine
conditions using filtration to increase lithium chloride
(“LiCl”) concentrations for Volt’s eluate and
further streamlining the extraction process.
Preliminary Economic Assessment
Preparation
With the reservoir analysis now complete, the
Company is finalizing the capital and operating costs required for
the establishment of a 20,000 tonnes per annum
(“tpa”) lithium plant at Rainbow Lake. The
advancements made to date, learnings and outcomes from the
permanent Demonstration Plant, along with confirmation of the
capital and operating costs will all represent meaningful and
tangible outputs that can inform and support completion of our
Rainbow Lake PEA.
Volt is committed to incorporating all of the
knowledge, experience and realistic representations of anticipated
capital and operating costs that have been assembled to date in
order to publish our PEA before the end of November, 2023. We
believe having the PEA will also allow Volt to accelerate
commercial operations given results and technological advances from
our permanent Demonstration Plant can be integrated in
real-time.
About Volt
Volt is a lithium development and technology
company aiming to be North America’s first commercial producer of
lithium hydroxide and lithium carbonates from oilfield brine. Our
strategy is to generate value for shareholders by leveraging
management’s hydrocarbon experience and existing infrastructure to
extract lithium deposits from existing wells, thereby reducing
capital costs, lowering risks and supporting the world’s clean
energy transition. With four differentiating pillars, and a
proprietary Direct Lithium Extraction (“DLE”)
technology and process, Volt’s innovative approach to development
is focused on allowing the highest lithium recoveries with lowest
costs, positioning us well for future commercialization. We are
committed to operating efficiently and with transparency across all
areas of the business staying sharply focused on creating
long-term, sustainable shareholder value. Investors and/or other
interested parties may sign up for updates about the Company’s
continued progress on its website: https://voltlithium.com/.
Contact Information
For Investor Relations inquiries or further
information, please contact:
Alex Wylie, President &
CEOawylie@voltlithium.comM: +1.403.830.5811
Forward-Looking Statements
This news release includes certain
“forward-looking statements” and “forward-looking information”
within the meaning of applicable Canadian securities laws. When
used in this news release, the words “anticipate”, “believe”,
“estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”,
“could”, “schedule” and similar words or expressions, identify
forward-looking statements or information. Statements, other than
statements of historical fact, may constitute forward looking
information and include, without limitation, statements about the
qualification of the FT Units as “flow-through shares” under the
Tax Act, which is subject to the risks set out in the Prospectus
Supplement; the use of proceeds from the Offering and the
Concurrent Private Placement; the ability of the Company to incur
qualified Canadian Exploration Expenses with the gross proceeds of
the sale of the FT Units; the conduct of the Company’s preliminary
economic assessment for the Rainbow Lake project; the Company’s
continued exploration of its mineral properties; and general
business and economic conditions. With respect to the
forward-looking information contained in this news release, the
Company has made numerous assumptions. While the Company considers
these assumptions to be reasonable, these assumptions are
inherently subject to significant uncertainties and contingencies
and may prove to be incorrect. Additionally, there are known and
unknown risk factors which could cause the Company’s actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking information contained herein
including those known risk factors outlined in the Company’s
amended and restated annual information form and the Shelf. All
forward-looking information herein is qualified in its entirety by
this cautionary statement, and the Company disclaims any obligation
to revise or update any such forward-looking information or to
publicly announce the result of any revisions to any of the
forward-looking information contained herein to reflect future
results, events or developments, except as required by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
Grafico Azioni Volt Lithium (TSXV:VLT)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Volt Lithium (TSXV:VLT)
Storico
Da Giu 2023 a Giu 2024