CleanTech Lithium executes options for two Argentine sites
CleanTech Lithium PLC on Thursday said it has secured options to acquire two mining properties in Argentina, expanding its exploration presence in the Salar de Antofalla.
The Chile-focused exploration and development company said its wholly owned subsidiary, CleanTech Lithium Ltd, has entered into agreements to acquire 100% of the Genoveva and Sal de Litio 1 properties, located about 80 kilometres from its flagship Laguna Verde project.
The properties are adjacent to an Albemarle-owned exploration project with a total resource estimate of 9.5 million tonnes of lithium carbonate equivalent. Existing geophysical work at Genoveva also indicates a thick brine aquifer more than 500 metres deep.
Under the option agreements, the company will pay USD525,000 in the first year, with a further USD1.40 million due between October 2027 and May 2031.
Chief Executive Officer Ignacio Mehech said the Antofalla project could provide development synergies with the company's Laguna Verde and Viento Andino projects, although Laguna Verde remains its main focus.
The update follows Wednesday's test results from Laguna Verde, which showed lithium carbonate purity of up to 99.75% and direct lithium extraction performance above pre-feasibility study benchmarks.
CleanTech Lithium said it plans to undertake a drilling programme in 2027, subject to funding, at an estimated cost of USD500,000, with the aim of establishing a maiden JORC-compliant resource estimate.
Shares in CleanTech were up 4.1% to 7.03 pence per share on Thursday afternoon in London.
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