Europe’s largest lithium resource at KRX’s planned “Zero Carbon” lithium project
Koppar Resouces (ASX:KRX) today announced that it has established a conceptual Exploration Target for the Vulcan Lithium Project in Germany’s Upper Rhine Valley field — a project that comprises one of the only geothermal brines globally that’s uniquely enriched in lithium.
This Exploration Target of 10.73 to 36.20 million tonnes of contained Lithium Carbonate Equivalent (LCE), is based on a range of lithium concentrations between 126 mg/L lithium and 190 mg/L lithium.
This Exploration Target demonstrates the potential world-class scale of the project and points to the Vulcan being, by far, the largest lithium resource in Europe, assuming conversion to an Inferred Resource.
Koppar recently entered into a binding agreement to acquire Vulcan Energy Resources Pty Ltd., the owner of the Vulcan Lithium Project. The Vulcan Lithium Project is aiming to be Europe’s and the world’s first Zero Carbon Lithium project through dual-purpose wells and its very short distance to potential markets.
Koppar aims to achieve this by producing battery-grade lithium hydroxide from hot sub-surface geothermal brines pumped from wells, with a renewable energy by-product, without the need for hard-rock mining.
Here's an overview of Direct Lithium Extraction (DLE) from Geothermal Brines.
The heart of the EV market
The project is strategically located in the heart of the European auto and lithium-ion battery industries, just 60km from Stuttgart, Germany, near Volkswagen, Northvolt and multiple planned “Giga-factories”.
This is a huge potential market, especially considering that Europe is the world’s second largest EV market, yet it has no local supply of battery grade lithium.
The burgeoning European battery manufacturing industry is forecast to be the world’s second largest, with currently zero domestic supply of battery grade lithium products.
Rapid advancement to come
Independent geological consultants, Roy Eccles P. Geol. and Steve Nicholls MAIG of APEX Geoscience Ltd., have assessed data provided by Koppar and the company’s geothermal consultants, GeoThermal Engineering GmbH, and prepared the Exploration Target and associated JORC Code information tables.
Exploration Target Cautionary Statement: The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to determine a mineral resource and there is no certainty that further exploration work will result in the determination of a mineral resource.
The company has yet to conduct exploration work at the Vulcan Project and so it must be noted that, so far, there has been insufficient exploration to estimate a Mineral Resource, meaning the Exploration Target’s potential quantity and grade is conceptual in nature with no guarantees that further exploration will result in the estimation of a Mineral Resource.
Going forward, Koppar plans to rapidly advance the Vulcan Lithium Project to a Scoping Study over the next 12 months.
Work programmes will commence with acquisition of all available seismic and geochemical data from the region, as well as a confirmatory geochemical sampling programme from available well locations, to confirm lithium grades.
The company will also commence lithium extraction processing test work on brine samples taken from existing wells within the Upper Rhine Valley.
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