REG - CleanTech Lithium - Upgraded JORC resource- Francisco Basin Li Project
24/08/2023 07:00
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RNS Number : 2715K CleanTech Lithium PLC 24 August 2023
24.08.23
CleanTech Lithium PLC ("CleanTech Lithium" or the "Company")
Francisco Basin JORC resource increases 74% to 0.92 million tonnes of LCE of
which
0.44 million tonnes is upgraded to Indicated, with significant expansion
potential
CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration
and development company advancing sustainable lithium projects in Chile for
the clean energy transition, announces an upgraded JORC resource estimate of
0.92 million tonnes of lithium carbonate equivalent ("LCE") at an average
grade of 207mg/L lithium at the Company´s second project - Francisco Basin.
The resource estimate now includes 0.44 million tonnes at an average grade of
221mg/L lithium in the Indicated category.
Although not yet categorised as a Reserve, this resource is considered
sufficient for a production rate of 20,000 tonnes per annum of battery grade
lithium carbonate for up to a possible 20-year operation, which will be used
in the Scoping Study which is nearing completion. The Scoping Study is
expected to reinforce the project's path to production, capital requirements
and will support CleanTech Lithium's engagement with potential strategic
partners.
Summary of the resource upgrade:
Table 1: Comparison of Francisco Basin JORC Resource Estimates: October 2022
and August 2023
Highlights:
· Following an exploration drilling programme completed in 1H 2023, the
JORC resource estimate at Francisco Basin has been upgraded to 0.92 million
tonnes of LCE including an Indicated resource of 0.44 million tonnes LCE
· The drilling programme encountered challenges with a late start due
to heavy snow in the 2022 winter, and drill holes in the east of the resource
zone encountered a loose sand unit affecting well completion and sampling in
this prospective area
· For the upcoming exploration season (commencing late Q4 2023)
modifications to the drilling programme are planned to successfully complete
these wells and the Board believes there is large upside to the resource size
and grade at Francisco Basin
· A pumping test programme completed at the project recorded a high
transmissivity that corresponds to a modelled flow rate of approximately 80L/s
in an operation stage well design, providing a potentially positive input into
the Francisco Basin scoping study which will be completed in the coming weeks
and announced prior to the planned listing on the ASX later in Q3 2023.
Commenting, Aldo Boitano, Chief Executive Officer, of CleanTech Lithium PLC,
said: "Seeing a 74% increase in the Francisco Basin resource estimate to 0.92
million tonnes of LCE with 0.44 million tonnes now in the Indicated category
provides more confidence in the resource potential and further de-risks the
project following an extensive work programme this year. We think there
remains strong potential for a large increase in the resource with further
exploration work planned in 1H 2024.
The resource upgrade provides support for the Scoping Study which is nearly
complete with a base case production rate of 20,000 tonnes of lithium
carbonate per annum. High flow rates from a pumping test programme completed
this season are a major positive. The recorded flow rates exceeded our
expectations and this should reduce the number of wells required for
production, potentially reducing the associated capex.
We expect the Scoping Study will confirm the economic potential of this
project, alongside our other project Laguna Verde. At both sites we intend to
advance our Direct Lithium Extraction process, which removes the need for
evaporation ponds, and supply 'green' lithium to the EV and battery
manufacturing industry."
Further Information
Project Background
Francisco Basin is located within 100km of the Company´s more advanced Laguna
Verde project, as shown in Figure 1. The project has excellent infrastructure
with road access to the site and existing power and water supply lines
traversing the project area.
Figure 1: Location of the Francisco Basin Project
The previous resource estimate for Francisco Basin was reported in October
2022, based on one well, FB01, completed in 1H 2022 which produced an Inferred
resource estimate. To upgrade the resource estimate to a higher confidence
level, a drill programme based on 5 additional wells was undertaken in the
first half of 2023. The location of wells completed in 2022 and 2023 are shown
in Figure 2.
Fig. 2: Francisco Basin Drill Hole Map
Resource Summary
The 2023 resource estimate showing the key inputs in the calculation and the
change vs the previous 2022 estimate is shown below in Table 2. The upgraded
resource estimate represents an increase in the total estimated resource of
74% to 0.92 million tonnes LCE and includes an upgrade to 0.44 million tonnes
in the Indicated category. This represents a large increase in the confidence
level of the resource estimate.
Table 2: Updated JORC Resource Estimate 2023
Geological Setting
The Central Andes Altiplano salars form in closed topographic depressions at
all elevations from 1,000m to over 4,000m above sea level. They generally
represent the end result of a basin infill process that starts with erosion of
surrounding relief, which deposits colluvial material, gravels, sheet sands,
silts and clays. Alitplano salars are generally divided into mature halite
salars and immature clastic salars, the later characterised by greater
moisture regimes and a sediment profile with higher porosities. Francisco
Basin is classified as an immature salar which features a hyper saline lagoon
at the topographic low point of the basin.
The Francisco Basin is an elongated basin aligned on a NW-SE axis bounded on
all sides by volcanic mountain ranges. The surface or margin of the lagoon
is at an elevation of approximately 4,136m. To the south-east the basin forms
a gently rising plain which forms the focus area of the project. The basin
fill is characterised by sedimentary deposits that can be separated into three
general units:
1. An upper unit of fine to coarse sands intercalated with fine gravels
and minor clay and tuff levels
2. A middle unit of clay beds intercalated with minor levels of fine
sands and gypsum
3. A basal unit of moderately consolidated gravels and sands,
transitioning to silt beds
The brine aquifer is contained mainly from the middle unit down to the
basement, with the general basin stratigraphy interpretation presented in
Figure 3 below.
Fig. 3: Francisco Basin General Stratigraphy
Drilling Programme
A resource drilling programme consisting of six wells (including 5 new wells)
was designed to test a resource area based on the interpreted extent of a low
resistivity zone identified by a transient electromagnetic geophysics survey.
The hole locations are shown in Figure 2. A first drilling programme
comprising drill hole FB01 was undertaken from March to the end of May, 2022,
when the programme was suspended due to the onset of winter weather
conditions. A second drill programme comprising wells FB02 - FB06 was
undertaken from January to the end of June, 2023. The location and drill depth
details are provide in Table 1 below.
Table 3: Francisco Basin Drill Hole Details
Drilling Method
Drillholes FB01 - FB04 were drilled with the reverse flooded drilling system
which starts with a 20 inch diameter pre-well drilled to 32m depth, cased with
16 inch diameter steel casing to stabilize the upper loose sand interval. The
wells are then drilled with 14 inch diameter to the target depth, with the aim
of inserting 8 inch PVC casing installed with silica gravel used to pack the
casing. The PVC casing is slotted over the depth interval of the brine
aquifer. This is a wide diameter well design which is suitable for the
high-volume pump tests required for final feasibility level hydrogeological
modelling, and ultimately for conversion to production bores in a commercial
stage operation.
Drillholes FB05 and FB06 utilised the diamond drilling system. The wells were
drilled with 3.8 inch diameter and then cased with 2 inch PVC to obtain brine
samples. The primary objective of these diamond drill holes was to collect
sediment samples for lithological and porosity analysis, with a secondary
objective of collecting brine samples.
Fig. 4: Drill Rig and Auxiliary Equipment at FB03 and FB04, 2Q 2023
Brine Sampling Collection and Analysis
For wells completed with the wide diameter reverse flooded drill method, brine
was sampled with suction and/or bailer sampling methods. After well completion
a development process including purging the well of three well volumes of
brine followed, then a minimum 5-day stabilisation period applied. Suction
samples were collected via air lifting of samples into a 20-litre bucket.
Samples were taken from every 6m support level. This operation used a rig with
a compressor as shown in Figure 5. Bailer samples were then collected using an
electronic or a pressurised bailer that is raised and lowered with an electric
cable winch as shown in Figure 6. Bailer samples were collected every 6m.
For wells completed with the diamond drill method with 2 inch casing diameter,
samples were taken with a double valve disposable bailer. The bailer is
lowered and raised with an electric winch cable, to maintains a constant
velocity and avoid bailer valves opening after taking the sample from the
aquifer interval. Samples were sealed in clean polyethylene bottles, labelled
and package on site for shipment to ALS Life Science Chile laboratory in
Santiago. The suite of element analysis covered B, Ca, Cu, Li, Mg, K, Na,
CaCO(3), Cl, SO(4), TDS and Density. A detailed QA/QC procedure was applied
for sample collection and analysis.
Fig. 5: Suction Sampling with Compressor
Fig. 6: Bailer Sampling using Electric Winch
Results from FB01 were used in the 2022 resource estimate produced for the
Francisco Basin project, which was reported in an announcement dated October
3, 2022. A total of 34 brine samples were collected from regular intervals
with a peak lithium grade of 324 mg/L and an average grade of 305mg/L. Several
challenges were encountered in the 2023 drilling campaign that have limited
the collection of representative brine samples and subsequent analysis,
impacting the size, classification and the average lithium grade of the 2023
resource estimate.
Drill holes FB02 and FB03 were planned to test a low resistivity zone
extending to the eastern area of the resource model. Both holes encountered a
loose sand unit and drilling was ended before the target drill depth was
achieved. The wells could not be completed with 8-inch casing as the loose
sand unit prevented removal of drilling rods. A second well was attempted at
the site of FB03, designated FB03A, with the same result. A number of attempts
were made to salvage the holes, such as inserting narrow two-inch diameter
casing past the trapped rods, however the wells were not able to be
effectively developed and sampled. Despite this the levels at which brine
was encountered during the drilling of the wells does provide an important
input in the resource model, whilst limiting the resource classification in
the area of the wells to Inferred.
Well FB04 was the southernmost drill hole location, farthest from the
Francisco Basin salar, and designed to test the southern extension of the
resource. The well was successfully completed and sampled with most water
samples being relatively fresh water and a maximum lithium grade of 40mg/L
recorded, therefore, the resource area does not extend to FB04.
Wells FB05 and FB06 were narrow diameter diamond drill wells completed with
2-inch casing. These wells were designed primarily to collect sediment core
samples for lithological and porosity analysis, with brine sample collection a
secondary objective. At FB05 a total of 37 samples were collected which had
a range of 74mg/L to 162mg/L lithium, and an average of 111mg/L lithium. The
brine had a low total salinity as measured by total dissolved solids (TDS) of
5§5,300mg/L. For comparison sea water has a TDS of approximately 35,000mg/L.
The range of lithium values in the samples and relatively low salinity of the
brine may indicate dilution from mixing with the fresh upper aquifer.
At FB06 a total of 26 samples were collected with most samples showing a
contamination with drilling water. A total of 5 samples showed elevated
lithium without the signal of drilling water contamination. This limits the
contribution of samples from FB06 to the resource model to these 5 samples
which had a range of 117mg/L to 155mg/L lithium and an average of 134mg/L
lithium. Due to the limited number of representative samples collected from
FB06 the data derived from the wells contributes to an Inferred resource
classification.
The Company plans to resample both FB06 and FB05 as soon as site conditions
allow. As conditions are currently favourable with very low snowfall and
relatively mild winter temperatures, the re-sampling programme is planned in
September 2023. In order to effectively drill the eastern targets of the
resource area, where FB02 and FB03 were located, the Company´s geology team
and drilling contractor will modify the drilling method based primarily on a
new drilling mud regime with greater density that will be injected at high
pressure to maintain hole stability prior to the installation of metal casing.
This area has the most prospective geophysics for resource extension. The
Company believes there is significant upside potential for the resource
estimate in the upcoming drilling season.
Core Sampling Analysis
Core samples were obtained every 10m from diamond drill holes FB05 and FB06.
Undisturbed diamond drillhole core samples with 3 to 5-inch length in HQ3
diameter were obtained for testing (Fig. 7). A total of 29 samples from FB05
were prepared and sent to Daniel B. Stephens & Associates, Inc. laboratory
(DBS&A) in New Mexico, USA. Samples from FB06 were collected late in the
drilling programme and were not sent due to timing, however are available for
further test work. Samples underwent Relative Brine Release Capacity (RBRC)
laboratory tests, which predict the volume of solution that can be readily
extracted from an unstressed geological sample.
Fig. 7: Core Samples for Porosity Laboratory Tests from FB05 June 2023
The results from the brine release testing were used in the resource estimate;
however, the analysis from one drill hole is not extendable to the entire
basin, and therefore the variability of the results require further test-work.
Brine release tests were not carried out for drill holes FB01 - FB04 as these
were drilled with a reverse flooded system where only drill cuttings were
available.
Pumping Test Programme
A pumping test was undertaken at FB01 in May 2023. The well was completed
with 8-inch PVC casing with slotted casing over the brine aquifer level from
90m to 335m. A 50HP submersible electric pump and piping with flow meters were
used, as shown in Fig. 8 below. The pump was placed at a depth of 160m for an
initial variable flow rate step test using three successive increasing flow
rates of 10, 16 and 22 l/s for a total of six hours. Drawdown levels of 5.7m,
8.8m and 12.5m were recorded respectively. A constant flow rate test was then
conducted for a period of 14 hours at a maximum flow rate of 24 l/s; maximum
flow rate was limited by pump size. Water level drawdown 19m where the aquifer
stabilised. On completion of the test the aquifer recovered in approximately
one hour.
Fig. 8: Installation of Pump Test Equipment at FB01
Based on the data collected from the pump test programme the Transmissivity
(T) value calculated for FB01 ranges from 160 - 230m(2)/day. This is a
relatively high T value and is favorable for allowing pumping at larger rates
from larger diameter wells.
Resource Model
The sub-surface geological 3D model was built from the Transient Electro
Magnetic (¨TEM¨) surveys performed in 2018 and 2014; these profiles are
shown in Figure 9.
Fig. 9: Sub-Surface 3D Geological Model
The 3D model was constrained vertically at the bottom based on a gravimetry
survey completed in 2023 and by the basement intercepted in drill holes FB01
and FB05, with this model output shown in Fig. 10.
Fig. 10: 3D Geological Model with Drill Intercepts, Gravity Survey, and
Interpreted Basement
The 3D model was constrained vertically at the ceiling by the brine intervals
intercepted in each of the drill holes FB01 (99 m), FB02 (260m), FB04 (300m),
FB05 (195m) and FB06 (285m), and the brine intercept based on TEM geophysics
for drill hole FB03, to form the final 3D model. This model output, shown in
Fig. 11 below, completes the Francisco Basin brine volume model.
Fig. 11: 3D Geological Model with Drill Intercepts, TEM Survey, and
Interpreted Ceiling
The available brine samples used for the resource model at Francisco Basin are
centred on drill holes that are located on the edges of the resource volume.
It is considered that the best approach for resource estimation is to use the
standard inverse to the square distance method to estimate block values.
Porosity Calculation
The drainable porosity, or specific yield calculation applied a combination of
the RBRC laboratory results received for diamond core samples from FB05 and
the lithological logging undertaken for all other drill holes which informed
the basin stratigraphy model from which porosity estimates were assigned based
on established literature values for each lithological unit. This produced an
overall average specific yield of 11.2% for the resource estimate in the
Indicated category, and 13.8% for the resource estimate in the Inferred
category.
Resource Categorisation
Resource criteria was based on the recommended sampling grid distances of the
complementary guide to the CH 20235 code to report resources and reserves in
brine deposits. A factor in resource categorisation is density of samples. The
resources categorisation is dependent on the brine samples availability, their
quality in terms of confidence and the drainable porosity assignation
confidence level.
Considering the above, the resources categorisation conditions for the
Francisco Basin block are:
· Blocks estimated at 2,500 m around FB01 and FB05 samples were
considered as INDICATED
· The rest of the blocks that don't match the above condition were
considered as INFERRED
The model output is shown in plan view in Figure 12.
Fig. 12: Resource Category Block Mode Output for Below A.S.L. 4,112m a.s.l.
Resource Estimate
The following tables summarise the updated Francisco Basin resource estimate
calculation separated by resource category with the total resources presented
in the final Table 6. For the calculation of resources in Lithium Carbonate,
an industry standard 5.323 factor was applied over the Li mass.
Total Indicated Resources
Total Volume m(3) 3,376,080,000
Specific Yield % 11.2%
Brine Volume m(3) 377,547,013
Average Li Grade mg/l 220.54
Li Mass tonne 83,264
Indicated Resource (Lithium Carbonate Equivalent) tonne 443,215
Table 4: Francisco Basin Total Indicated Resources
Total Inferred Resources
Total Volume m(3) 3,313,680,000
Specific Yield % 13.8%
Brine Volume m(3) 458,182,522
Average Li Grade mg/l 195.22
Li Mass tonne 89,448
Inferred Resource (Lithium Carbonate Equivalent) tonne 476,130
Table 5: Francisco Basin Total Inferred Resources
Total Indicated + Inferred Resources
Total Brine Volume m(3) 835,729,536
Average Li Grade mg/l 206.66
Li Mass tonne 172,712
Indicated + Inferred Resource (Lithium Carbonate Equivalent) tonne 919,346
Table 6: Francisco Basin Indicated + Inferred Resources
The Resources above are reported under JORC Code, 2012 Edition. The Company,
which is the operator of the Francisco Basin project, holds 100% interest in
the project and accordingly the above are all gross figures.
For further information contact:
CleanTech Lithium PLC
Aldo Boitano/Gordon Stein Jersey office: +44 (0) 1534 668 321
Chile office: +562-32239222
Or via Celicourt
Celicourt Communications +44 (0) 20 7770 6424
Felicity Winkles/Philip Dennis/Ali AlQahtani cleantech@celicourt.uk (mailto:cleantech@celicourt.uk)
Dr. Reuter Investor Relations +49 69 1532 5857
Dr. Eva Reuter
Harbor Access - North America +1 475 477 9401
Jonathan Paterson/Lisa Micali
Porter Novelli - Chile +56 2 2335 1693 Ernesto@publicoporternovelli.cl
Ernesto Escobar
+44 (0) 207 628 3396
Beaumont Cornish Limited
(Nominated Adviser)
Roland Cornish/Asia Szusciak
Fox-Davies Capital Limited +44 (0) 20 3884 8450
(Joint Broker)
Daniel Fox-Davies daniel@fox-davies.com (mailto:daniel@fox-davies.com)
Canaccord Genuity Limited +44 (0) 207 523 4680
(Joint Broker)
James Asensio
Gordon Hamilton
Competent Person
The following professional acted as qualified person, as defined in the AIM
Note for Mining, Oil and Gas Companies (June 2009):
· Christian Gert Feddersen Welkner: The information in this release
relates to drilling results, geology, brine assays reports, sediment sampling
/ specific yield calculation and resource calculation are based on information
compiled by Christian Gert Feddersen Welkner, who is an independent Qualified
Person to the Company and is a Member of Comision Calificadora de Competencias
en Recursos y Reservas Mineras Chile that is a 'Recognised Professional
Organisation' (RPO). Mr Feddersen has sufficient experience that is relevant
to the style of mineralization and type of deposit under consideration and to
the activity being undertaken to qualify as a Competent Person as defined in
the 2012 Edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves'. Mr Feddersen consents to the
inclusion in the press release of the matters based on his information in the
form and context in which it appears.
The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No
596/2014 which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon publication of this announcement, this inside information is
now considered to be in the public domain. The person who arranged for the
release of this announcement on behalf of the Company was Gordon Stein,
Director and CFO.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and
development company advancing next-generation sustainable lithium projects in
Chile for the clean energy transition. Proudly sustainable, committed to
net-zero, our mission is to produce material quantities of battery grade,
carbon-neutral lithium using sustainable Direct Lithium Extraction technology,
powered by clean energy, we plan to be the greenest lithium supplier to the EV
market.
CleanTech Lithium has three prospective lithium projects - Laguna
Verde, Francisco Basin and Llamara - located in the lithium triangle, the
world's centre for battery grade lithium production. The Laguna Verde
and Francisco Basin projects are situated within basins entirely controlled
by the Company, which affords significant potential development and
operational advantages. Llamara is the Company's latest greenfield project,
which offers material potential upside at a low initial cost. All three
projects have direct access to excellent infrastructure and renewable power.
CleanTech Lithium is committed to using renewable power for processing
and reducing the environmental impact of its lithium production by utilising
Direct Lithium Extraction. Direct Lithium Extraction is a transformative
technology which removes lithium from brine, with higher recoveries and
purities. The method offers short development lead times, low upfront capex,
with no extensive site construction and no evaporation pond development so
there is no water depletion from the aquifer or harm to the local
environment.
**ENDS**
JORC Code, 2012 Edition - Table 1 report
Francisco Basin
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · After the wells PVC casing and silica gravel installation, a
specific specialised industry standard measurement tools appropriate to the development process took place. The well development includes an injection of
minerals under investigation, such as down hole gamma sondes, or handheld XRF a hypochlorite solution to break the drilling additives, enough solution
instruments, etc). These examples should not be taken as limiting the broad actuation waiting time and then, purging of minimum three well volumes
meaning of sampling. operation to clean the cased well from drilling mud and injected fresh water.
· Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems used. · The developing process was made using a small rig, a
high-pressure compressor and 2-inch threaded PVC that can be coupled to reach
· Aspects of the determination of mineralisation that are Material to any depth. The purging/cleaning operation is made from top to bottom,
the Public Report. injecting air with a hose inside the 2-inch PVC and "suctioning" the water,
emulating a Reverse Circulation (Air-Lift) system.
· In cases where 'industry standard' work has been done this would be
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m · Once the well is verified, clan assuring that the purged water is
samples from which 3 kg was pulverised to produce a 30 g charge for fire brine coming from the aquifer, the PVC Casing Suction (Air-Lift) samples were
assay'). In other cases more explanation may be required, such as where there taken on FB01 well from bottom to top, while the 2-inch PVC is extracted from
is coarse gold that has inherent sampling problems. Unusual commodities or the well. A 20-liter bucket is filled with brine and the brine sample is
mineralisation types (eg submarine nodules) may warrant disclosure of detailed obtained from the bucket once the remaining fine sediments that could appear
information. in the sample decant.
· One-liter Samples every 3 m were taken and, every 6 m sent to
laboratory to preserve a second sample set for auditory purposes.
· Conductivity-based TDS and T°C were measured in every sample
with a Hanna Multiparameter. All materials and sampling bottles were first
flushed with brine water before receiving the final sample.
· After the PVC Casing Suction sampling, a stabilization period of
minimum 5 days took place before proceed with the PVC Casing Bailer sampling
to let the well match the aquifer hydro-chemical stratigraphy.
· PVC Casing Disposable Bailer sampling process was made by JCP
Ltda., specialists in water sampling on drillholes FB01, FB02, FB03, FB05 and
FB06. Samples were taken from the interest depths with a double valve
discardable bailer. The bailer is lowered and raised with an electric cable
winch, to maintain a constant velocity and avoid bailer valves opening after
taking the sample from the desire support.
· PVC Casing Disposable Bailer samples were obtained every 6 m
support to avoid disturbing the entire column during the sampling process.
Conductivity-based TDS and Temperature °C were measured for every sample with
a Hanna multiparameter.
· PVC Casing Pressurized Bailer samples were obtained in FB04. A
pressurized bailer brand Solinst proportioned by Geomin SpA were used This
bailer permit to obtain sealed water samples down to 1,000 m with a pressure
system that open the and seal the sampler in the interest support.
· Pressurized Bailer samples were obtained every 6 m support to
avoid disturbing the entire column during the sampling process.
Conductivity-based TDS (Multi-TDS) and Temperature °C were measured for every
sample.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · Reverse flooded drilling system with 20 to 14 inch diameter was used
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or in well FB01, FB02, FB03 (FB03A) and FB04.
standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc).
· FB01 was cased and habilitated from 0 m to its final depth 335 m with
8-inch PVC.
· FB02 was cased and habilitated from 0 m to its final depth 351 m with
4-inch PVC.
· FB03 was cased and habilitated from 0 to 314 m with 4-inch PVC.
· FB04 was cased and habilitated from 0 m to 414m
· Diamond Drilling system with HQ3 diameters were used in FB05 and FB06
· FB05 was cased and habilitated 2 inch PVC from 0 m to 455 m
· FB06 was cased and habilitated 2 inch PVC from 0 m to 450 m
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · On Reverse Flooded Drilling system, cuttings and 10 kg sample bags
results assessed. were recovered for geological logging and tests purposes. Direct supervision
and continue geological logging were applied to assure recovery
· Measures taken to maximise sample recovery and ensure representative
nature of the samples. · On Diamond Drilling system, diamond core recovery were assured by
direct supervision and continuous geotechnical logging
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging · Whether core and chip samples have been geologically and · Continue geological logging took place during drilling
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies. · For all 2022 brine samples conductivity-based TDS and Temperature °C
parameters were measured during the sampling
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography. · From 2023, for all brine samples conductivity-based TDS, pH and
Temperature °C parameters were measured during the sampling
· The total length and percentage of the relevant intersections logged.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · On year 2022, during the brine samples batch preparation process,
taken. Standard (internal standard composed by known stable brine), Duplicates and
Blank samples (distilled water) were randomly included in the batch in the
· If non-core, whether riffled, tube sampled, rotary split, etc and rate of one every twenty original samples.
whether sampled wet or dry.
· From year 2023, during the brine samples batch preparation
· For all sample types, the nature, quality and appropriateness of the process, Standard (internal standard composed by known stable brine),
sample preparation technique. Duplicates and Blank samples (distilled water) were randomly included in the
batch in the rate of one every ten original samples.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples. · After check samples insertion, all samples were re-numbered
before submitted to laboratory. The author personally supervised the
· Measures taken to ensure that the sampling is representative of the laboratory batch preparation process.
in situ material collected, including for instance results for field
duplicate/second-half sampling.
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Brine samples obtained on 2022 were assayed on ALS Life Science
laboratory procedures used and whether the technique is considered partial or Chile laboratory, by Li, K, B, Mg, Ca, Cu and Na by ICP-OES, method described
total. on QWI-IO-ICP-OES- 01 Edisión A, Modification 0 EPA 3005A; EPA 200.2.
· For geophysical tools, spectrometers, handheld XRF instruments, etc, · From year 2023 all brine samples were assayed also on ALS Life
the parameters used in determining the analysis including instrument make and Science Chile laboratory by ICP-OES, method described on QWI-IO-ICP-OES- 01
model, reading times, calibrations factors applied and their derivation, etc. Edisión A, Modification 0 EPA 3005A; EPA 200.2, but now reporting the full
element swift
· Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of · Total Density use the method described on THOMPSON Y, TROEH DE.
accuracy (ie lack of bias) and precision have been established. Los suelos y su fertilidad.2002. Editorial Reverté S.A. Cuarta Edición.
Págs.75-85.
· Chlorine detemination described on QWI-IO-Cl-01 Emisión B mod. 1
Método basado en Standard Methods for the Examination of Water and
Wastewater, 23st Edition 2017. Método 4500-Cl-B QWI-IO-Cl-01 Emisión B, mod.
1. SM 4500-Cl- B, 22nd Edition 2012.
· Total Disolved Solids (TDS) with method describe on INN/SMA SM
2540 C Ed 22, 2012
· Sulfate according method described on INN/SMA SM 4500 SO4-D Ed
22, 2012
· Duplicates were obtained randomly during the brine sampling.
Also, Blanks (distilled water) and Standards were randomly inserted during the
laboratory batch preparation.
· The standards were prepared on the installations of Universidad
Católica del Norte using a known stable brine according procedure prepared by
Ad Infinitum. Standard nominal grade was calculated in a round robin process
that include 04 laboratories. ALS life Sciences Chile laboratory was validated
during the round robin process.
· Check samples composed by standards, duplicates and blanks were
inserted in a rate of one each twenty original samples during year 2022.
· From year 2023, check samples composed by standards, duplicates
and blanks were inserted in a rate of one each ten original samples
· For the 2023 QA/QC process, a new set of standards were
internally prepared on the Copiapó warehouse installations, using 200 liters
of brine obtained from Laguna Verde CleanTech project. Standard nominal
Lithium grade was calculated in a round robin process that include 04
laboratories (Ch. Feddersen Standards preparation, statistical analysis,
nominal valuation & laboratories analysis, February 2023)
· For the TEM Geophysical survey a Applied Electromagnetic Research
FAST-TEM 48 equipment was used, composed by a transmitter and receiver unit, a
PC and the circuit cables (buckle), with batteries as power source. A
coincident transmission / reception loop of 220x220 m2 was used for the 98
surveyed stations, reaching a survey depth of 400 m.
· The equipment used for the Gravimetry geophysical survey was a
Scintrex portable digital model CG-5 Autograv, type "microgravity meter", with
a 0.001 mGal resolution with tidal, temperature, pressure and leveling
automatic correction system
· The topographic data measured during the gravimetry survey were
acquired with a double frequency differential positioning equipment, brand CHC
NAV, model I-80 GNSS, that consists in two synchronized equipments, one fix
at a known topographic station and the other, mobile thru the surveyed
gravimetry stations
Verification of sampling and assaying · The verification of significant intersections by either independent · The assay data was verified by the author against the assay
or alternative company personnel. certificate.
· The use of twinned holes. · Geophysics were used as delivered by Terra Pacific and Geodatos
· Documentation of primary data, data entry procedures, data · Geological logs were managed by geology contractor GEOMIN and checked
verification, data storage (physical and electronic) protocols. by the competent person
· Discuss any adjustment to assay data. · Brine samples batches were prepared personally by the author or by
JCP Ltda. And Geomin SpA, with the supervision of the author. All data are in
EXCEL files
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · Drillhole collars were captured with non-differential hand held GPS.
and down-hole surveys), trenches, mine workings and other locations used in Position was verified by topographic features Total station topographic
Mineral Resource estimation. capture of the drillhole collars is pending
· Specification of the grid system used. · The TEM geophysical survey coordinates were captured with
non-differential hand held GPS.
· Quality and adequacy of topographic control.
· Gravimetry stations were captured with a double frequency
differential positioning equipment, brand CHC NAV, model I-80 GNSS, that
consists in two synchronized equipments, one fix at a known topographic
station and the other, mobile thru the surveyed gravimetry stations
· The coordinate system is UTM, Datum WGS84 Zone 19J
Data spacing and distribution · Data spacing for reporting of Exploration Results. · PVC Casing Suction brine samples were taken every 3 m and, sent to
laboratory every 6 m
· Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications applied.
· PVC Casing Disposable Bailer brine samples were taken every 6 m
· Whether sample compositing has been applied.
· PVC Casing Pressurized Bailer brine samples were taken every 6 m
· For TEM geophysical survey a 750 m stations distance, in lines every
750 m were used.
· For the Gravimetry survey a 200 m to 300 m stations distance were
used
· The author believes that the data spacing and distribution is
sufficient to establish the degree of geological and grade continuity
appropriate for the Resource Estimation
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of
possible structures and the extent to which this is known, considering the
deposit type.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
Sample security · The measures taken to ensure sample security. · All brine samples were marked and immediately transported them to
Copiapó city warehouse
· The brine water samples were transported without any perturbation
directly to a warehouse in Copiapó city, were laboratory samples batch was
prepared and stored in sealed plastic coolers, then sent via currier to ALS
laboratory Santiago. All the process was made under the Competent Person
direct supervision.
· ALS personnel report that the samples were received without any
problem or disturbance
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · The assay data was verified by the Competent Person against the assay
certificate.
· No audits were undertaken
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · CleanTech Lithium holds in Francisco Basin 12,762 hectares of Mining
agreements or material issues with third parties such as joint ventures, Concessions, separated in 1,474 hectares Exploitation Concessions, 10,088
partnerships, overriding royalties, native title interests, historical sites, hectares of Exploitation Applications and 1,200 hectares of Exploration
wilderness or national park and environmental settings. Applications.
· The security of the tenure held at the time of reporting along with · The Competent Person relies in the Mining Expert Surveyor Mr, Juan
any known impediments to obtaining a licence to operate in the area. Bedmar.
· All concession acquisition costs and taxes have been fully paid and
that there are no claims or liens against them
· There are no known impediments to obtain the licence to operate in
the area
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · No Lithium Exploration works has been done by third parties in the
past
Geology · Deposit type, geological setting and style of mineralisation. · Francisco Basin are classified as the "Salar Marginal Facies" of a
hyper saline lagoon that approaches to an immature clastic salar
classification (Negro Francisco lagoon), with the lagoon corresponding to the
"salar nucleus"
Drill hole Information · A summary of all information material to the understanding of the · The following drillhole coordinates are in WGS84 zone 19 J Datum
exploration results including a tabulation of the following information for
all Material drill holes: · FB01 E479,904 N6,959,310 ELEV 4,151 m a.s.l.
o easting and northing of the drill hole collar · FB02 E483,350 N6,957,900 ELEV 4,164 m a.s.l.
o elevation or RL (Reduced Level - elevation above sea level in metres) of the · FB03 E483,949 N6,959,090 ELEV 4,161 m a.s.l.
drill hole collar
· FB03A E483,835 N6,959,040 ELEV 4,160 m a.s.l.
o dip and azimuth of the hole
· FB04 E482,715 N6,956,410 ELEV 4,177 m a.s.l.
o down hole length and interception depth
· FB05 E482,000 N6,957,900 ELEV 4,159 m a.s.l.
o hole length.
· FB06 E485,600 N6,957,900 ELEV 4,181 m a.s.l.
· If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · No low-grade cut-off or high-grade capping has been implemented due
maximum and/or minimum grade truncations (eg cutting of high grades) and to the consistent nature of the brine assay data
cut-off grades are usually Material and should be stated.
· No data aggregate of any kind has been implemented
· Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · The relationship between aquifer widths and intercept lengths are
Exploration Results. direct
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported.
· If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (eg 'down hole length, true width
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Addressed in the report
intercepts should be included for any significant discovery being reported
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · All results have been included.
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · Pump Test on FB01 well just finished
reported including (but not limited to): geological observations; geophysical
survey results; geochemical survey results; bulk samples - size and method of · A 50 hp submergible electric pump, piping with flowmeters were used
treatment; metallurgical test results; bulk density, groundwater, geotechnical for the pump tests. The tests consist in 6-hour variable pump test to verify
and rock characteristics; potential deleterious or contaminating substances. the aquifer capabilities and a constant 12-hour pump test
· In FB01 the pump was installed at 159 m
Further work · The nature and scale of planned further work (eg tests for lateral · Drilling to be undertaken upgrade Inferred Resources to Measured +
extensions or depth extensions or large-scale step-out drilling). Indicated and Indicated Resouces to Measured Resources and to improve
drainable porosity estimation. Include a drillhole designed for reinjection
· Diagrams clearly highlighting the areas of possible extensions, tests
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive. · Hydraulic testing be undertaken, for instance pumping tests from
wells to determine, aquifer properties, expected production rates, upgrade
Resources to Reserves and infrastructure design.
· Aquifer recharge dynamics be studied to determine the water balance
and subsequent production water balance. For instance, simultaneous data
recording of rainfall and subsurface brine level fluctuations to understand
the relationship between rainfall and aquifer recharge, and hence the brine
recharge of the aquifer. SGA Hydrogeologist consultants are actually working
on basins steady still model
Section 3 Estimation and Reporting of Mineral Resources
(Criteria listed in section 1, and where relevant in section 2, also apply to
this section.)
Criteria JORC Code explanation Commentary
Database integrity · Measures taken to ensure that data has not been corrupted by, for · Cross-check of laboratory assay reports and Database
example, transcription or keying errors, between its initial collection and
its use for Mineral Resource estimation purposes. · QA/QC as described in Sampling Section
· Data validation procedures used.
Site visits · Comment on any site visits undertaken by the Competent Person and the
outcome of those visits.
· Continue supervision of March to May 2022 drilling campaign.
· If no site visits have been undertaken indicate why this is the case.
· Continue supervision on October 2022 to July 2023 drilling campaign
Geological interpretation · Confidence in (or conversely, the uncertainty of ) the geological
interpretation of the mineral deposit.
· For the geological interpretation was made based in the TEM study and
· Nature of the data used and of any assumptions made. drillholes
· The effect, if any, of alternative interpretations on Mineral · Low resistivities are associated with sediments saturated in brines,
Resource estimation. but also with very fine sediments or clays
· The use of geology in guiding and controlling Mineral Resource · Drillholes confirm the geological interpretations
estimation.
· The factors affecting continuity both of grade and geology.
Dimensions · The extent and variability of the Mineral Resource expressed as · The Brine Resource is a sub horizontal lens with an approximately
length (along strike or otherwise), plan width, and depth below surface to the area of 9 km x 5 km and 320 m wide
upper and lower limits of the Mineral Resource.
Estimation and modelling techniques · The nature and appropriateness of the estimation technique(s) applied · The brine ore model was built from the TEM geophysical surveys
and key assumptions, including treatment of extreme grade values, domaining, performed by Terra Pacific (Terra Pacific, 2018), and Golder-Kinross TEM
interpolation parameters and maximum distance of extrapolation from data survey profiles that are on public domain. 25 every 50 m plans were built,
points. If a computer assisted estimation method was chosen include a considering a north east limit at 2,500 m from FB01 drillhole (Indicated
description of computer software and parameters used. radius), that collide with the shore of the salt portion of the Del Negro
Francisco lagoon.
· The availability of check estimates, previous estimates and/or mine
production records and whether the Mineral Resource estimate takes appropriate · The built model was clipped from below with the basement surface
account of such data. constructed using the gravimetry survey performed by Geodatos (Geodatos, April
2023), and the basement intercepts in FB01 and FB05 drillholes and, from above
· The assumptions made regarding recovery of by-products. by the brine aquifer ceiling surface, constructed with the first brine aquifer
intercepts on FB01 (99 m), FB02 (260 m), FB04 (300 m), FB05 (195 m) and FB06
· Estimation of deleterious elements or other non-grade variables of (285 m) drillholes and, the interpreted brine intercept from TEM geophysics on
economic significance (eg sulphur for acid mine drainage characterisation). drillhole FB03 (305 m), to form the final 3D model. This final model
corresponds to the Francisco Basin Brine Ore Volume
· In the case of block model interpolation, the block size in relation
to the average sample spacing and the search employed. · One block model was constructed on Francisco Basin with the
following properties:
· Any assumptions behind modelling of selective mining units.
· Block size: 200 m x 200 m x 6 m.
· Any assumptions about correlation between variables.
· Block Model Origin: 484,800 East, 6,952,400 North, Level 4,080 m
· Description of how the geological interpretation was used to control a.s.l.
the resource estimates.
· N° Columns: 40
· Discussion of basis for using or not using grade cutting or capping.
· N° Rows: 60
· The process of validation, the checking process used, the comparison
of model data to drill hole data, and use of reconciliation data if available. · N° Levels: 90
· Rotation: 50° Clockwise
· The individual block variables are:
· Rock Type: 0=No Ore, 1= Brine Ore
· Density
· Percent
· Economic
· Material: 1=Upper Zone Sand-Gravel, 2=Inner Zone Clay, 3=Lower
Bed Consolidated Sand-Gravel Transitioning to Silt and 4 = 1,000 m around
FB05
· Li (Lithium)
· Mg (Magnesium)
· K (Potash)
· B (Boron)
· SO4
· Ca (Calcium)
· Category: 1=Measured, 2=Indicated and 3=Inferred
· Porosity
· Elevation
· The traditional Inverse to the Square Distance method to estimate
the block variables was used. To accomplish this, the samples from the
Sub-Surface Assay Resource Database were manually assigned to their
correspondent block levels on both block models. Once assigned, the block
variable values were calculated by levels with the correspondent assigned
samples and their horizontal distances from the individual block to estimate.
All calculations were performed in EXCEL files.
· The calculated block variables are:
· Lithium (Li)
· Magnesium (Mg)
· Potash (K)
· Boron (B)
· Sulfate (SO4)
· Calcium (Ca)
· To assign drainable porosity for resources calculation, the
Francisco Basin Brine Ore Volume was divided in the following units:
· Upper unit of Fine to coarse sands intercalated with fine
polymictic gravels and minor clay and tuff levels (block variable Material=1).
A drainable porosity of 22% was assigned to this unit according literature, as
a small amount of the resources lie inside this unit.
· Middle unit of clays beds with variable plasticity intercalated
with minor levels of fine sands and gypsum (block variable Material=2). This
unit presents RBRC values in FB05 samples between 0.2% and 5.1% depending on
the plasticity level and sand content. The suction level at 160 m of the pump
test performed in FB01 were located in the upper part of this clay unit,
giving transmittivity (k) values between 0.88 m/d and 1.23 m/d. These k values
are related with much higher drainable porosity values.
On the FB01 detailed cutting geological logging, this unit appear with more
fine sand beds intercalations, more sand content and lower plasticity levels.
In FB02 this unit also appear with more sand content and lower plasticity
levels. Considering all, a drainable porosity of 8% were assigned to this
unit.
· Basal unit of moderately consolidated gravels and sands,
transitioning to silt beds (block variable Material=3) This unit presents RBRC
values in FB05 samples between 0.7% and 10.8%. In FB01 this unit is composed
mainly by sands with scarce gravels that are related with higher drainable
porosity. To FB03 drillhole, this unit transition to a very soft silt bed with
minor plasticity level. This stratigraphical unit was the one that "swallow"
the drilling tools, provoking the rods brakeage and tools loose in that well
and should have high drainable porosity (silt could reach 20% according
literature). Also, starts to appear in the bottom of FB02 drillhole, before
the drilling rods brakeage and tools loose, just like in FB03
drillhole.Considering all, a drainable porosity of 15% were assigned to this
unit. For the blocks Material variable assignation between values 1 to 3, two
surfaces were built with the unit's contacts on Francisco Basin drillholes,
corresponding to the ceiling and bottom of the Middle Unit of Clay Bed. Then,
these surfaces were intercepted with the blocks that lie inside the Francisco
Basin Brine Ore Volume to assign their correspondent Material variable
value.
· Volume inside a 1,000 m radius around drillhole FB05 (block
variable Material=4) Blocks inside 1,000 m radius around FB05 were assigned
with block variable Material=4. For the blocks were variable Material=4, FB05
RBRC samples were manually assigned to their correspondent block level. Once
assigned, the block porosity values were copied by levels with the
correspondent RBRC sample value. All calculations were performed in EXCEL
file. The following is the file used for the porosity assignation around FB05
drillhole. 2023-08-03_PorosityEstimationFB05ReducedV1.xlsx
Moisture · Whether the tonnages are estimated on a dry basis or with natural · Not applicable for brine resources
moisture, and the method of determination of the moisture content.
Cut-off parameters · The basis of the adopted cut-off grade(s) or quality parameters · No cut-off parameters were used
applied.
Mining factors or assumptions · Assumptions made regarding possible mining methods, minimum mining · Mining will be undertaken by pumping brine from production wells and
dimensions and internal (or, if applicable, external) mining dilution. It is re-injection
always necessary as part of the process of determining reasonable prospects
for eventual economic extraction to consider potential mining methods, but the · Pump Test on FB01 well just finished
assumptions made regarding mining methods and parameters when estimating
Mineral Resources may not always be rigorous. Where this is the case, this · Pump Test on FB01 was made with a 50 hp submergible electric pump,
should be reported with an explanation of the basis of the mining assumptions piping with flowmeters were used for the pump tests. The tests consist in
made. 6-hour variable pump test to verify the aquifer capabilities and a constant
12-hour pump test
· In FB01 the pump was installed at 159 m
Metallurgical factors or assumptions · The basis for assumptions or predictions regarding metallurgical · Direct Lithium Extraction technology (DLE) with spent brine
amenability. It is always necessary as part of the process of determining reinjection is planned for Francisco Basin. Production Plant / Camp,
reasonable prospects for eventual economic extraction to consider potential production/reinjection wells, and brine mixing ponds are planned to install on
metallurgical methods, but the assumptions regarding metallurgical treatment the concession area.
processes and parameters made when reporting Mineral Resources may not always
be rigorous. Where this is the case, this should be reported with an
explanation of the basis of the metallurgical assumptions made.
Environmen-tal factors or assumptions · Assumptions made regarding possible waste and process residue · The main environmental impacts expected is the Production Plant /
disposal options. It is always necessary as part of the process of determining Camp and the surface disturbance associated with production wells and brine
reasonable prospects for eventual economic extraction to consider the mixing ponds. These impacts are not expected to prevent project
potential environmental impacts of the mining and processing operation. While
at this stage the determination of potential environmental impacts,
particularly for a greenfields project, may not always be well advanced, the
status of early consideration of these potential environmental impacts should
be reported. Where these aspects have not been considered this should be
reported with an explanation of the environmental assumptions made.
Bulk density · Whether assumed or determined. If assumed, the basis for the · Bulk density is not relevant to brine resource estimation.
assumptions. If determined, the method used, whether wet or dry, the frequency
of the measurements, the nature, size and representativeness of the samples.
· The bulk density for bulk material must have been measured by methods
that adequately account for void spaces (vugs, porosity, etc), moisture and
differences between rock and alteration zones within the deposit.
· Discuss assumptions for bulk density estimates used in the evaluation
process of the different materials.
Classification · The basis for the classification of the Mineral Resources into · The considered criteria were based on the recommended sampling
varying confidence categories. grid distances of the complementary guide to CH 20235 code to report resources
and reserves in brine deposits (Comision Calificadora en Competencias en
· Whether appropriate account has been taken of all relevant factors Recursos y Reservas Mineras, July 2021).
(ie relative confidence in tonnage/grade estimations, reliability of input
data, confidence in continuity of geology and metal values, quality, quantity
and distribution of the data).
· The resources categorization is dependent of the brine samples
· Whether the result appropriately reflects the Competent Person's view availability, their quality in terms of confidence and the drainable porosity
of the deposit. assignation confidence level.
· Considering the above, the resources categorization conditions
for the Francisco Basin block are:
· Blocks estimated at 2,500 m around FB01 and FB05 samples were
considered as INDICATED
· The rest of the blocks that don't match the above condition were
considered as INFERRED
· The result reflects the view of the Competent Person
Audits or reviews · The results of any audits or reviews of Mineral Resource estimates. · No audit or reviews were undertaken.
Discussion of relative accuracy/ confidence · Where appropriate a statement of the relative accuracy and confidence · The estimated tonnage represents the in-situ brine with no recovery
level in the Mineral Resource estimate using an approach or procedure deemed factor applied. It will not be possible to extract all of the contained brine
appropriate by the Competent Person. For example, the application of by pumping from production wells. The amount which can be extracted depends on
statistical or geostatistical procedures to quantify the relative accuracy of many factors including the permeability of the sediments, the drainable
the resource within stated confidence limits, or, if such an approach is not porosity, and the recharge dynamics of the aquifers.
deemed appropriate, a qualitative discussion of the factors that could affect
the relative accuracy and confidence of the estimate. · No production data are available for comparison
· The statement should specify whether it relates to global or local
estimates, and, if local, state the relevant tonnages, which should be
relevant to technical and economic evaluation. Documentation should include
assumptions made and the procedures used.
· These statements of relative accuracy and confidence of the estimate
should be compared with production data, where available.
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