Vulcan Energy Resources Ltd (VULNF)

[TradingCharts]

ASX Release 28 April 2022
Exploration and development
Strategically located in Europe, Vulcan has the largest lithium resource at the centre of the fastest
growing lithium-ion battery market in the world. The Company is aiming to increase the future supply of
its sustainable lithium chemical product in response to significant customer demand.
During the period, the Company was awarded new exploration licenses for geothermal energy and
lithium in the Upper Rhine Valley Geothermal Brine Field, stepping out from its area already in production
for geothermal energy. The new licenses increased Vulcan’s granted license area by nearly 50% to over
1,000km2
. The team has been focused on reviewing existing data and adding to Vulcan’s project
development pipeline with the view to launch a drilling campaign at the end of 2022 to grow renewable
energy production and lithium production.
In addition, Vulcan subsidiary Vulcan Energy Italy Pty Ltd was granted the Cesano Permit, in Italy. The
Cesano Permit extends over an area of 11.5 km2 and includes an area where a single geothermal well
yielded two “hot brine” samples that contained high average lithium-in-brine historical (1976) grades of
350 and 380 mg/l Li. Vulcan is working with local partners to ascertain the potential of the area in more
detail, and ascertain next steps. By growing and diversifying Vulcan’s project development portfolio - an
initiative internally called “Project Rollo” – the Company aims to develop a global Zero Carbon LithiumÔ
business focused on Europe, and to become a significant producer of renewable energy and sustainable
lithium for electric vehicles. Vulcan is also looking at medium to longer-term opportunities on the French side of the Upper Rhine Valley.

https://www.investi.com.au/api/announcements/vul/64c5b4f8-4a0.pdf