Summit Nanotech, Llamara join forces to develop lithium project

Cleantech company Summit Nanotech has executed a Joint Venture agreement with Chilean miner Llamara to develop lithium resources at the latter’s Llamara Basin. 

The project covers approximately 51,300 hectares, of which 4,000 hectares are part of the current JV between Llamara and Summit Nanotech. The JV zone of interest, noted Summit Nanotech, may increase by an additional 6,000 hectares with the delivery of positive results from committed activities.

“I’ve had my eye on this particular salar for a long time,” said Amanda Hall, CEO of Summit Nanotech. “The execution of our JV is perfectly timed as firm policies from the Chilean government about the lithium strategy have recently been announced. 

“Now, we can advance our development plan with confidence and certainty. Working diligently with the experienced and reputable Llamara Group team, we will produce a high-quality lithium product, while being grounded in a shared vision of sustainability.”

Llamara and Summit said they will immediately launch into the drilling of two exploratory wells as required in the First Option with the aim to demonstrate the compatibility of denaLi direct lithium extraction (DLE) with the prospective brine zone. 

This is Summit’s third JV in Chile, a country that has the greatest potential to be the world leader in sustainable, cost-effective production of this critical metal.

Source: Summit Nanotech