- Following the acquisition and interpretation of seismic and well data, announcing an updated and reclassified Taro Indicated JORC Resource Estimation of 0.83 Mt contained Lithium Carbonate Equivalent (LCE) at a grade of 181 mg/l Li.
- Updated Taro Inferred JORC Resource Estimation revised upward to 1.44 Mt contained LCE at a grade of 181 mg/l Li.
- Vulcan’s Upper Rhine Valley Project (URVP) Li-brine resource is now estimated to collectively contain 16.19 Mt LCE at a grade of 181 mg/l Li (Indicated & Inferred; 90% of which is in the Inferred Resource category), the largest JORC lithium resource in Europe.
- Vulcan aims to use its project to produce the lowest CO2-eq. footprint lithium hydroxide for electric vehicles in the world1, from its unique Zero Carbon Lithium™ Project in the Upper Rhine Valley.
- Large resource size is significant in that it gives Vulcan the potential to become a major supplier of lithium chemicals into the EU market.
- The Indicated Resource portion of Taro is being integrated into Vulcan’s Pre-Feasibility Study (PFS).
Vulcan Managing Director, Dr. Francis Wedin, commented: “Using our recently acquired seismic data to advance the 3-D geological model, and well data to advance fault zone hydro-dynamics, we’re pleased to have upgraded a significant portion of the Taro Resource to the “Indicated” category, and to have increased the size of the Taro Inferred Resource. This higher confidence resource area is being integrated into our PFS, which is on schedule for completion. This is in line with our strategy to become a supplier of our unique Zero Carbon Lithium® hydroxide to the European battery electric vehicle market.”
Recent activities by the Company (https://v-er.com/investor-centre/asx-announcements/):
- Appointment of former Tesla director Jochen Rudat to Business Development team.
- Taro license grant and increased global Mineral Resource Estimate.
- Appointment of lithium industry expert Vincent Pedailles to Business Development team.
- Appointment of lithium chemistry expert Dr. Katharina Gerber to the Executive team.
- Excellent recoveries of over 90% from lithium extraction test work on Upper Rhine Valley brine.
- Securing EU backing support package, and EU-backed investment agreement into the Vulcan Zero Carbon Lithium® project.
- $4.8m institutional and ESG investor equity placement.
- Agreement to acquire 3D seismic package to accelerate project development. Commencementof lithium test work for Pre-Feasibility Study. Completion of positive Scoping Study.