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Vulcan Energy Resources Ltd.
Summary
| Project: | Vulcan | |
|---|---|---|
| Deposit: | Insheim | |
| Location: | Germany | |
| Commodities: | Lithium | |
| Date: | 1/20/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 20-1-2020: Vulcan Energy Resources Ltd. announces a Resource Estimation report for its Insheim deposit at the Vulcan project. Indicated resource defined for project. Vulcan Energy Resources Ltd. (“Vulcan”, “VUL”, “the Company”) is pleased to announce the | |
| Resources: | (Resource, Ind.): 722,000t of contained LCE at Insheim | |
| CP/QP: | [Resources]: Roy Eccles, Steven Nicholls (APEX Geoscience Ltd.) | |
| ABSTRACT: | Vulcan Energy Resources Ltd. (“Vulcan”, “VUL”, “the Company”) is pleased to announce the completion of the maiden Indicated Lithium-Brine Mineral Resource Estimate at the Insheim Licence, in the Upper Rhine Valley (or Upper Rhine Graben) of South-West Germany (Figure 1 & 2). The resource estimation (and previous Vulcan resource estimations) were completed by APEX Geoscience Ltd. and were conducted in consideration of, and in accordance with JORC (2012). Vulcan has acquired direct access to lithium-enriched brine at the operating Insheim Geothermal Plant and Insheim Exploitation Licence via a binding Memorandum of Understanding with German utility Pfalzwerke geofuture GmbH (announced November 26, 2019; Vulcan Energy Resources Ltd., 2019). The Insheim Geothermal Plant is currently pumping hot (approximately 165º C), high-flow, lithium-enriched brine from aquifer depths of >2,980 m to the surface for power generation. Pfalzwerke geofuture GmbH is not processing or extracting lithium as part of the power generation circuit before the reinjecting the brine back down into the reservoir and the Memorandum of Understanding grants Vulcan an initial collaboration period that allows access to the Insheim Licence brine and data, with a pathway to construct a lithium extraction demonstration plant at Insheim in the future. The agreement marks a material milestone for Vulcan as the Company has obtained access (and a pathway to co-production lithium rights) to lithium-enriched brine from within the deep aquifer underlying the Insheim Exploitation Licence. The Insheim Licence is 19 square kilometres and brings Vulcan’s total land position in the Upper Rhine Graben to 807.19 square kilometres (80,719 hectares; Figure 2). A total of 7 cross-sectional slices of interpreted geology from surface to basement spaced approximately 1 km apart were used to create the 3-D subsurface stratigraphic model (Figure 3). The original cross-sections were derived from GeORG, a publicly-available digital geological atlas of geothermal information. The subsurface model for the Insheim Licence was validated against 2-D seismic profiles and geothermal well data provided by Pfalzwerke geofuture GmbH. | |
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