Exploration company CleanTech Lithium has upgraded the resource estimate for its Laguna Verde project, in Chile, to 1.8-million tonnes of lithium carbonate equivalent (LCE) at a grade of 200 mg/L lithium.

The upgrade includes a significant increase of 39% in the measured and indicated resource to 1.1-million tonnes LCE, including a large increase of 174%  in the measured resource.

“We are very encouraged by this upgrade in the Laguna Verde resource estimate.

"The resource estimate provides the basis for the prefeasibility study currently under way with a base case production rate of 20 000 t of lithium carbonate per annum. We expect the study will reaffirm the economic potential for this project as we advance the use of direct lithium extraction to supply green lithium to the EV industry,” said CEO Aldo Boitano.

The PFS reinforces the project’s path to production, capital requirements and will support CleanTech Lithium’s engagement with potential strategic partners.

The increase follows successful drill programmes in the first half of the year.