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Vulcan Energy Resources Ltd.
Summary
| Project: | Vulcan | |
|---|---|---|
| Deposit: | Vulcan | |
| Location: | Germany | |
| Commodities: | Lithium | |
| Date: | 2/21/2020 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-2-2020: Vulcan Energy Resources Ltd. announces a Scoping Study report for its Vulcan deposit at the Vulcan project. Scoping Study results for project. Managing Director, Dr. Francis Wedin commented: “Today marks a major milestone for the Company, and | |
| Resources: | (Resource, Ind.): 722,000t of contained LCE at Insheim | |
| CP/QP: | [Overall Report]: Roy Eccles (APEX Geoscience Ltd.) | |
| ABSTRACT: | Managing Director, Dr. Francis Wedin commented: “Today marks a major milestone for the Company, and I would like to take this opportunity to thank our in-house team of lithium and geothermal experts, as well as our technical consultants, for their hard work in completing this study within our tight timeframes. The Scoping Study outlines a plan to produce battery-quality lithium hydroxide from Stage 1, ultimately growing with the market in Europe during a considerably larger Stage 2. Over the project life, both stages were found to have a positive outcome. Critically, the project benefits from readily available renewable heat and power to be used in lithium processing, and lack of high cost mining. The smaller Stage 1 provides a sensible first step for the Company. We have shown with this Scoping Study the potential to commercially produce the raw materials required for the transition to electric vehicles, with a net zero carbon footprint, while decarbonizing the German energy grid with generation of renewable energy. We don’t see commerciality and environmental footprint as being mutually exclusive, indeed we seem them as being inextricably linked going into the 2020s, which is why we designed our Zero Carbon Lithium™ process from the ground up to be a net zero carbon, minimal impact process. This is currently a key differentiator for us in an industry with a very significant carbon footprint, but ultimately we hope that we will be the first of many, as we see a customer-driven push for companies to innovatively decarbonize the battery raw materials supply chain. Our process is the perfect fit for the Vulcan Lithium Project, a combined geothermal and lithium brine resource in the heart of the European lithium-ion battery industry, and the largest lithium resource in Europe by a considerable margin. European lithium-ion battery production is the fastest growing in the world, with new capacity plans announced regularly, and zero local supply of battery quality lithium hydroxide. | |
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