Summary:
- New exploration license for geothermal energy, geothermal heat, brine and lithium has been granted to Vulcan in the Upper Rhine Valley for three years.
- License covers 108km² of area considered by Vulcan to be prospective for geothermal and lithium brine.
- Vulcan’s geological team now is reviewing existing data over the area, with a view towards future resource definition, and addition to Vulcan’s total Mineral Resource of 15.85Mt LCE @ 181mg/l Li in the Upper Rhine Valley, the largest Lithium Resource in Europe.
- Vulcan’s license holding now stretches across three states in the Upper Rhine Valley, with the latest license in the state of Hessen complementing existing licenses in the states of Rhineland-Palatinate and Baden-Württemberg.
- Vulcan is seeking to grow its Zero Carbon Lithium™ Project to meet increasing customer demand.
Managing Director, Dr. Francis Wedin, commented: „The unique experience of the GeoT team, now part of Vulcan, has been instrumental in identifying areas such as this which are prospective for geothermal lithium mineralisation in the Upper Rhine Valley. The newly granted exploration license will form part of our plans to grow our unique Zero Carbon Lithium™ Project, driven by high customer demand and an increasingly widely-held industry view that combined geothermal energy and sustainable lithium projects will be the preferred choice of lithium chemicals supply for the automotive industry in the years to come, due to their unique ability to produce lithium with no fossil fuels and net zero greenhouse gas emissions.“