Vulcan Energy (ASX:VUL) has updated its resource estimation to 3.22 million tonnes of lithium carbonate equivalent @ 155mg per lithium at the Mannheim prospect within the Upper Rhine Valley Brine Field (URVBF) in Germany.
A 3D seismic survey covered both an indicated and inferred resources estimate, representing a 1.39 million tonnes lithium carbonate equivalent increase since its previous estimate.
A maiden geothermal resource also projected an indicated resource of 2,848 petajoules with 171 petajoules recoverable, and an inferred resource of 10,539 petajoules with 3777 petajoules recoverable.
Vulcan intends to advance the prospect with a Scoping Study as a part of its phase one Lionheart development, before delivering baseload geothermal heat to MVV Energie’s (ETR:MVV1) district heating network.
CEO Cris Moreno says this update is another step forward in advancing the company beyond the phase one development program.
“This further validates our strategy to replicate the current pass into future phases by utilising the URVBF bordering Germany and France,” Moreno says.
“The URVBF is the largest lithium resource in Europe, as well as one of the highest quality brine geothermal resources, and therefore a significant asset for Europe’s energy and critical raw materials security.”
Vulcan Energy is focused on creating a sustainable integration of lithium and renewable energy towards a carbon neutral future.
Write to Maddison Elliott at Mining.com.au
Images: Vulcan Energy
