Lithium hopeful Arizona Lithium has started a definitive feasibility study (DFS) on its Big Sandy project, in the US.
The DFS followed a scoping study that was completed in October, which confirmed Big Sandy as being well positioned to become a long-term lithium producer to supply the rapidly growing demand for electric vehicles in North America.
The scoping study identified unique opportunities using new extraction technology that will be fast-tracked for development and inclusion in the DFS, Arizona Lithium said on Tuesday.
“We are delighted to be fast-tracking the DFS in order to accelerate the development of the Big Sandy project. I am currently in the US with our US-based senior leadership team in order to finalise the signing of key contractors for the DFS and strategising as to how to best utilise the DFS in the most environmentally friendly and sustainable manner,” said MD Paul Lloyd.
“I look forward to keeping shareholders up to date with new strategic partnerships, progress of the feasibility study and delivering an exciting report before the end of 2023.”
Big Sandy is currently estimated to host an indicated and inferred Joint Ore Reserves Committee-compliant resource of 32.5-million tonnes grading 1 850 parts per million lithium for 320 800 t of lithium carbonate. This represents 4% of the Big Sandy project area that contains an estimated exploration target of between 271.1-million to 483.15-million tonnes.