Volt Lithium Ord Shs - VLTLF STOCK NEWS

Volt Lithium Corp. (VLTLF) has achieved a significant operational milestone by scaling up its field unit to process 96,000 litres per day of oilfield brine, representing a 100 times increase in processing capacity. The company has maintained lithium recoveries of up to 99% during the scale-up, even with inlet brine concentrations as low as 31 mg/L. This achievement confirms Volt's ability to extract lithium from oilfield brines as it prepares to commence field operations in Q3 2024.

Volt's proprietary Direct Lithium Extraction (DLE) technology has been verified by ALS Canada , an independent third-party. The company has improved its extraction time from 120 to 60 minutes and designed its field unit for continuous 24/7 operation. Volt plans to scale up to full-scale commercial production by the second half of 2025, with an estimated capacity to process 100,000 barrels per day of brine.

Volt Lithium announces its participation in a live webinar hosted by Energy Prospectus Group (EPG) on June 25, 2024. The event will feature Alex Wylie, President & CEO of Volt Lithium, who will provide insights into the company's latest developments. The webinar is scheduled for 10:00 AM MT (9:00 AM PT; 12:00 PM ET) and aims to engage investors and interested parties. Registration details are available through the provided link. Volt Lithium trades under the symbols TSXV: VLT and OTCQB: VLTLF.

Volt Lithium has announced key additions to its team to support its transition to field operations in the Delaware Basin, Texas. The new additions include Dave Kimery as Chief Operating Officer, Derek McFarlane as Production Engineer for U.S. Field Operations, and Greg Foofat as Vice President of Investor Relations. These appointments aim to facilitate the company's expansion beyond its Field Simulation Centre in Calgary to full field operations and eventually commercial operations. Mr. Kimery brings over 25 years of experience in the energy industry, while Mr. McFarlane offers over 30 years in oil and gas field operations. Mr. Foofat will enhance Volt's communication strategies, leveraging his 20 years of experience in capital markets and investor relations. Additionally, Volt has granted 800,000 stock options at $0.25 per share to these new team members and certain consultants, vesting over six months and expiring in June 2028.

Volt Lithium Corp. announces a US$1.5 million strategic investment with an operator in the Delaware Basin in Texas to deploy a field unit producing lithium hydroxide monohydrate using Volt's DLE technology. The investment involves a private placement of 6,818,182 units at US$0.22 per unit, expected to close on May 1, 2024. The proceeds will fund the construction of the field unit and general corporate purposes.

Volt Lithium Corp. achieves a 64% reduction in operating costs for its Direct Lithium Extraction technology, positioning itself as a low-cost lithium producer. The company's DLE process improvements lead to increased lithium extraction rates and cost efficiency, supporting its goal of commercial success in battery-grade lithium production.

Volt Lithium Corp. successfully produced 99.5% battery-grade lithium carbonate in-house at its Demonstration Plant in Calgary. The Company used its proprietary DLE technology to process oilfield brine from the Keg River formation at its Rainbow Lake, Alberta asset. This achievement positions Volt as a low-cost operator and reduces the cost to produce lithium carbonate, enhancing margins. The Company's commitment to innovation and sustainability is evident in the optimization of its DLE technology and the successful processing of oilfield brine.

Volt Lithium Corp. achieved significant milestones in 2023, focusing on direct lithium extraction from oilfield brines using proprietary technology. The company demonstrated high lithium extraction from low concentration brines, constructed and commissioned a permanent demonstration plant, published an initial independent resource estimate, delivered a preliminary economic assessment, and executed collaborations with industry experts. The 2024 outlook includes plans to advance partnerships, strengthen the team, produce lithium carbonate in-house, secure partnerships with oilfield operators, apply for grant funding, and engage with First Nations for potential partnerships and funding sources.

Volt Lithium Corp. (TSXV: VLT) announced their Preliminary Economic Assessment for the Rainbow Lake Lithium Project, projecting an estimated production scaling from 1,000 to over 23,000 metric tonnes per year of battery-grade lithium hydroxide monohydrate over a 19-year period. The PEA outlines pre-tax $1.5 Billion NPV8 and IRR of 45%, with after-tax $1.1 Billion NPV8 and IRR of 35%. Volt has entered into a capital expenditure recovery program and cost-sharing arrangement that significantly enhances overall project economics. The project economics assumed $25,000/tonne LHM and provides strong leverage to higher lithium prices.

Volt Lithium Corp. provides an operational update on its business strategy to extract lithium from oilfield brines. The company has successfully conducted pilot plant operations for its Rainbow Lake Lithium Project and has commissioned a permanent Demonstration Plant capable of testing oilfield brines from multiple basins across North America. The outcomes from the Demonstration Plant will inform the Company's preliminary economic assessment for Rainbow Lake.