Green light from local councils & new licence area
Our zero carbon lithium and geothermal Investment Vulcan Energy Resources (ASX:VUL) has received the green light from eight local councils to carry out 3D seismic survey work across the company’s project area in Germany.
VUL says that positive momentum is building at the local level for its Zero Carbon Lithium™ Project and that so far, all local votes for its Phase 1 area work plan applications have been positive.
This is news that we like to hear, as VUL being granted local approvals was an issue that some commentators had previously questioned.
The 3D seismic survey work is planned to start in September and will assist in planning future development drilling.
VUL also reported that it has been granted a new exploration license (“Ried”), increasing its license area in the Upper Rhine Valley Brine Field (URVBF).
Importantly, this expands the size of VUL’s project area by 24% to a total of 1,440km2 over what is already the largest JORC compliant lithium resource in Europe.
The Upper Rhine Valley region has seen extensive exploration and development historically conducted by oil and gas companies, and this new licence area comes with some existing 3D seismic data.
VUL is leveraging the work done by the hydrocarbons industry to cut the time needed to gather data and accelerate the Zero Carbon Lithium™ Project.
