Clontarf says lithium extraction technology success lifts confidence

(Alliance News) - Clontarf Energy PLC on Thursday updated investors on its lithium projects in South America as well as on petroleum projects in Ghana, Australia and elsewhere.

The company said the direct lithium extraction technology developed by Next-ChemX Corp, its joint venture partner in Bolivia, has continued to perform well in processing synthetic brines modelled on the chemical composition of key Bolivian salt lakes.

"This has boosted our confidence level, and ability to advance to the next stage," Clotarf said.

The next step is to field-test the process on a larger scale which will involve laboratory test-work, which is expected to be completed during the third quarter.

Based on the volumes delivered, it then expects to conduct preliminary pilot-plant testing at the joint venture's facility, which is now being assembled in Austin, Texas.

Provided this initial pilot-plant test-work yields results as expected, the plan is to collect much larger volumes of the highest yielding brines for full pilot-plant processing.

This work will allow fine-tuning to the process for some or all of the targeted brines, with the objective of high yields, low impurities and costs and a limited environmental footprint.

This, Clontarf said, should help meet rapidly growing lithium demand without the cost and environmental issues associated with hard rock processing.

"Based on work to date, we expect the joint venture's proprietary iTDE technology to boost lithium recoveries, while overcoming challenges related to the magnesium content of certain brines," said Chair David Horgan.

The firm also reported all resolutions were passed at today's annual general meeting.

Shares in Clontarf Energy fell 11% to 0.10 pence in London on Thursday.

By Jeremy Cutler, Alliance News reporter

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