- Following the acquisition and interpretation of seismic and well data, announcing an updated and reclassified Ortenau Indicated JORC Resource Estimation of 2.06 Mt contained Lithium Carbonate Equivalent (LCE) at a grade of 181 mg/l Li.
- This represents a 131% increase in the total Upper Rhine Valley Project (URVP) JORC Indicated Resource Estimate. Importantly, 23% of Vulcan’s total URVP lithium-brine (Li-brine) Resource is now in the Indicated category.
- The Indicated Resource portion of Ortenau – along with Taro – is being integrated into Vulcan’s Pre-Feasibility Study (PFS), which is approaching completion.
- Ortenau Inferred JORC Resource Estimation revised to 10.80 Mt contained LCE at a grade of 181 mg/l Li and the updated total URVP Inferred and Indicated Resources are now 15.85 Mt LCE at a grade of 181 mg/l Li, the largest in Europe.
- Large resource size is significant in that it gives Vulcan the potential to become a major supplier of Zero Carbon Lithium® chemicals into the EU market, leveraging the recently announced regulations to set CO2 limits for lithium-ion battery production in Europe.