Altamin Limited (ASX: AZI) has lodged applications for new exploration licences (ELs) in the Lazio and Piedmont regions of Italy.
The two new ELs for lithium are adjacent to its granted ELs in the Lazio administrative region of central Italy and made application for an EL that includes more than five significant historical graphite mines in the Piedmont region of Italy.
Lazio Lithium Project (Lazio Region)
Altamin’s lithium project area is located at Cesano about 50km north of Rome. It includes the two granted ELs of Galeria (1,148 ha) and Campagnano (1,213 ha), and now the applications for the Melazza (368 ha) and Cassia (2,589 ha) ELs. The application for new tenements follows a recent independent technical assessment of historical exploration and technical work compiled over a 20-year period commencing in 1974.
The data indicates that the wells drilled and tested in that period can produce geothermal energy and offer the recovery of some chemical elements such as inter alia, lithium, boron and potassium. The reservoirs underlying the tenements remain so-far unexploited for geothermal energy or minerals.
However, in Tuscany to the north of Altamin’s tenements, and within a similar regional aquifer, the exploitation of high-temperature geothermal waters for power production is a mature and well understood industry which has been in operation for over a century.
Altamin’s four tenements are semi-contiguous and extend over the eastern sector of the Quaternary Sabatini volcanic complex in an area characterised by collapsed calderas. The caldera’s underlying breccia pipe(s) have created zones of high permeability allowing hot hydrothermal circulation to enrich lithium and other salts in the vicinity of the deep regional aquifer. Test well Cesano C1 yielded brines from a depth of 1,390m with a lithium content of 350 mg/l and 380 mg/l. For comparison, this exceeds the average 200 mg/l lithium concentrations of the brines of the Salton Sea geothermal field in California which is regarded as the most significant lithium brine resource in the USA.
Altamin’s immediate work programme will be to continue research of the extensive historical reports, assess geophysical and geochemical techniques that may better define the areas surrounding the volcanic pipe(s) for future well testing, and create a synthetic brine which replicates the chemistry of the well field brines to determine and test modern processing technology for mineral extraction.
Villar Graphite Project (Piedmont Region)
Following assessment of historical data and supported by field reconnaissance which identified and located the sites of mining operations and the processing plant (disused), Altamin has made application over an area approximately 6,492 ha that contained more than five significant historical graphite mines and a central processing plant in the Piedmont region of Italy. This area is about 40km due south of Altamin’s Punta Corna Cobalt Project.
Italy was formerly a significant graphite producer, being the third largest globally following WW1, with the largest production source being the Pinerolo area which is centrally located in the EL application area. Production was sourced from multiple underground mines and ceased in the 1980s. Graphite processing was conducted locally and after enrichment historical product grades were reportedly ~95% Carbon, with in-situ mine grades reported at up to 50% Carbon.
There is a significant amount of historical geological and production information for the graphite mines and the graphite field in general, which will be assessed. Geophysical techniques, particularly electromagnetic (EM), are also deemed highly applicable to this style of deposit and will, together with surface mapping, outline the prospectivity of both in-mine and near-mine graphite bearing stratigraphy.
Application for these ELs is in alignment with the EU’s Critical Raw Materials Act (CRMA) which facilitates and encourages all EU members to mine, process and recycle critical materials, which includes both lithium and graphite.
Altamin’s strategy is to identify and secure value accretive projects for commercialisation by leveraging its unique exposure to the underexplored mineral potential in Italy. If approved, these new ELs will take their place in Altamin’s growing pipeline of strategic and critical mineral projects that are ideally situated in the heart of Western Europe close to prospective partners, financiers and within easy logistical reach of the downstream consumer market.