10th Nov 2025 12:51
(Alliance News) - CleanTech Lithium PLC on Monday announced an updated mineral resource estimate for its Laguna Verde project, after it acquired additional licenses.
In response, its stock jumped 12% to 6.14 pence per share as of Monday afternoon in London.
The Chile-focused lithium explorer said the new total resource is 1.9 million tonnes of lithium carbonate equivalent at a grade of 174 mg/L lithium, increased by 17% from 1.6 million tonnes of LCE as of January 20.
CleanTech said around 840,000 tonnes of the LCE is in the 'Measured + Indicated' category, with a grade of 178 mg/L lithium.
CleanTech acquired the additional licenses in August, in order to meet the Chilean government's license area requirement for entering the streamlined process for a special lithium operating contract. The company said it is currently finalising indigenous community consultations for Laguna Verde, and expects to complete the streamlined process shortly afterwards.
"Laguna Verde is one of the six salars selected by the Chilean government to be prioritised for development by private companies," it noted.
The company said that hydrogeological consultant Montgomery & Associates, which calculated the JORC (2012) compliant estimate, recommends three additional drillholes in the southwest, north and northeast to potentially increase the resource.
It added that the measured and indicated resource estimate will be used in the ongoing pre-feasibility study, which is meant to underpin a maiden reserve estimate for Laguna Verde.
"The updated JORC-compliant resource estimate for the Laguna Verde project, independently determined by Montgomery & Associates, confirms a robust and significant resource of 1.9 million tonnes of [LCE] at an average grade of 174 mg/l lithium, with 0.84 million tonnes in the Measured and Indicated category," commented Chief Executive Officer Ignacio Mehech. "The resource estimate is an important element of the project's [PFS] which is advancing to completion.
"This positions Laguna Verde as a leading direct lithium extraction (DLE) based project in Chile's lithium sector and as a future producer for the global EV and battery market."
Metals One PLC, which holds an approximate 10.7% stake in CleanTech Lithium, was "pleased to note" the announcement.
"As an investor in CleanTech Lithium, Metals One is very encouraged by the updated JORC-compliant resource estimate for the Laguna Verde project which underscores the strength and scale of this asset," commented Metals One Managing Director Daniel Maling.
Shares in Metals One were up 7.4% at 3.63p on Monday afternoon in London.
By Emma Curzon, Alliance News reporter
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