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- Arizona Lithium (AZL) upgrades its Prairie lithium brine project resource by 39 per cent
- The total resource increases to 5.7 Mt of LCE
- It now represents the highest-grade indicated lithium brine resource in Canada
- The upgraded resource allows the company to move forward with a pre-feasibility study set to conclude by the end of 2023
- Arizona Lithium last traded at 2 cents
Arizona Lithium (AZL) has announced a substantial resource upgrade to its Prairie lithium brine project in Saskatchewan, Canada.
This upgrade increased the total lithium resource from 4.1 million tonnes (Mt) of lithium carbonate equivalent (LCE) to an impressive 5.7 Mt of LCE, reflecting a substantial 39 per cent boost.
Four million tonnes were upgraded from inferred to indicated status.
Of note, the Prairie lithium project secured the distinction of possessing the highest-grade indicated lithium brine resource in Canada.
The majority of this high-grade resource was concentrated in the middle Wymark unit, showcasing a substantial lithium concentration of 127 milligrams per litre of lithium.
The company’s confidence extended to the Williston Basin in Southeast Saskatchewan, which offered fluid storage capabilities.
This has unlocked opportunities to explore multiple disposal formations without compromising the resource quality.
The company is on track to complete a pre-feasibility study (PFS) by the end of the calendar year.
Arizona Lithium last traded at 2 cents.
