Significant exploration potential
- Government support
What it owns
Cornish Lithium Ltd has assembled rights to explore for lithium in brines across over 300km of Cornwall, where the battery metal has been found naturally dissolved in saltwater since 1864.
The Cornish mining district is a “world-class mineral province”, with estimated historic production of around £45 billion from tin and £11 billion from copper at current prices.
The company has compiled and digitised various sources of historic data, and made 3D models to evaluate the optimal locations for extraction boreholes to be drilled. An initial drilling programme has been undertaken and the results are now being evaluated.
It is also evaluating the potential in Cornwall for other metals, particularly those which are vital to modern technologies such as electric vehicles and power storage batteries.
How’s it doing?
The company recently signed a licencing deal to allow for the processing of lithium from its projects. This doincides with the recent nominal production of lithium hydroxide from the hardrock Trelavour project.
The company continues to evaluate the potential for brines in the region, after it returned what it termed “globally significant grades” in results released in September.
The company has been succesfully funded using crowdfunding, and enjoys significant local support on its share register, and at an administrative level.
READ: With one huge drill hit Cornish Lithium and Strongbow Exploration have proved the continuing prospectivity of Cornwall
What the boss says: chief executive Jeremy Wrathall
“Following Brexit, and as the UK moves to reopen its economy after the [coronavirus] pandemic, the UK government is focussed on becoming a world leader in battery technology and electric vehicle manufacturing. Given this situation, it is now apparent that the creation of a battery and electric vehicle industry in the UK is more likely to happen if the nation has a domestic supply of lithium, especially if this lithium can be responsibly sourced with a low-carbon footprint. This puts Cornish Lithium in a good position.”