Die News wieder herausragend!
Sie bestätigen die Produktion von 2.000 Tonnen jährlich auf Prairie.
Die Produktion wird wie angekündigt beginnen.
Auf Big Sandy muss rechtlich etwas geklärt werden, wobei Arizona L. bereits auf die Zusammenarbeit mit der Trump-Regierung in Zukunft eingeht. Das nennen ich mal vorausschauend!
HIGHLIGHTS
• Exploration Drilling is complete at Prairie Pad #3, targeting the Souris River Formation and
Dawson Bay Formations.
• Exploration Completion activities are now underway at Prairie Pad #3 and results will be
released upon analysis.
• Pad #3 is the third pad of three pads detailed in the Preliminary Feasibility Study (PFS)
released in December 2023, and will have a target production of 2,000 tonnes per annum
(tpa) of Lithium Carbonate Equivalent (LCE)2.
• The Company can convert the well on Pad #3 into a future production or disposal well for
future production at Pad #3.
• Drilling wells on each pad is a key part of the path to production.
• As detailed in the PFS, each pad has a Net Present Value (NPV) of approximately US$150
million1.
• United States District Court for the District of Arizona has granted a preliminary injunction
to halt the approval granted by the BLM for the exploration drilling at Big Sandy until the
case is fully resolved.
Arizona Lithium Limited (ASX: AZL, AZLO, OTC: AZLAF) (“Arizona Lithium”, “AZL” or “the
Company”), a company focused on the sustainable development of two large lithium development
projects in North America, the Prairie Lithium Project (“Prairie”) and the Big Sandy Lithium Project (“Big
Sandy”) is pleased to provide an update on the drilling activities at both projects. Drilling is complete at
Pad #3, where an exploration well has been drilled targeting the Souris River and Dawson Bay
formations that underlay the Duperow Formation (Figure 2). Exploration completion activities are now
underway at Pad #3. This well has the ability to be converted into a future production or disposal well,
a key part of reaching commercial production at the Well Pad. The company wishes to inform
shareholders that the United States District Court for the District of Arizona has granted a preliminary
injunction to halt the approval granted by the BLM for the exploration drilling at Big Sandy until the case
is fully resolved.
Arizona Lithium Managing Director, Paul Lloyd, commented: “This well drilled on Pad #3
represents the finality of our successful drilling program for 2024. Flow testing will continue across our
wells on Pad #2 and Pad #3 as we finish up our remaining exploration field work for 2024. Given the
speed of development at the Prairie Project we are confident in hitting our goal of production of Lithium
products in 2025, which is now the Company’s primary focus. Following the decision made by the
District Court at Big Sandy, the Company is considering the next steps in the process of obtaining
drilling approvals after consulting with its US and Australian lawyers.
We are very proud of the efficiency and effectiveness of the Prairie drilling program this year. We have
continued to develop the Prairie project during a difficult period in the lithium cycle. By spending $18.4
million dollars during the year, we have separated AZL from many other Companies in the Lithium
industry. This has not gone unnoticed in the industry and has in fact drawn attention to a project with a
world class resource, significant pilot and process testing and a pathway to production by the end of
2025.
Now that the subsurface work is complete, we look forward to adding shareholder value during the
construction phase in 2025.
We understand that all the value placed by the market on AZL, relates to the Prairie brine project and
we will remain focused on production by the end of 2025. Big Sandy remains a core project and these
small set backs only strengthen our resolve to ultimately produce from Big Sandy. We look forward to
working with the pro-business Trump administration when they take control of the White House in
January 2026.” |
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