Mining Intelligence and News
Canada

Rainbow Lake Project

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Categories

Overview

Mine TypeIn-Situ
StagePreliminary Economic Assessment
Commodities
  • Lithium
Mining Method
  • Brine mining
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SnapshotThe Rainbow Lake is a world-class initial project. Initial Rainbow Lake, AB project (PEA stage) has existing production infrastructure, producing wells with significant water and Field Operating Unit.

Brines will be treated using the Volt’s proprietary direct lithium extraction (DLE) technology (IES-300). After passing through the extraction process, the concentrated lithium brine stream will undergo further processing steps in order to produce commercial battery-grade lithium hydroxide monohydrate (LHM).

As of January 31, 2024, Volt Lithium successfully produced 99.5% battery-grade lithium carbonate, a commercial and saleable lithium product, in-house at Volt’s permanent Demonstration Plant.

Owners

SourceSource
CompanyInterestOwnership
Volt Lithium Corp. 100 % Indirect
The property is defined by 20 contiguous Alberta Metallic and Industrial Mineral Permits for which Volt has 100% mineral interest ownership.

Deposit type

  • Brine

Summary:

Primary geologic targets of subsurface lithium enriched brines across the Rainbow Lake Lithium Project (RLP) area, are hosted within the Devonian aged Elk Point Group (Sulphur Point, Muskeg and Keg River Formations) of northwestern Alberta. The Elk Point Group aquifers are ideal candidates for sourcing subsurface lithium enriched brines for the purpose of Direct Lithium Extraction (DLE) due to their depositional and reservoir attributes. With a gross thickness exceeding 200 meters (m), and its overall expansive aerial extent, the Elk Point Group represents a known active aquifer system that has produced significant volumes of water associated with historical oil and gas production across the RLP area. Reservoir attributes associated with Elk Point Group primary lithology (e.g.,dolomite) provide significant pore volume and storage capacity of subsurface brines. In addition, high porosity and associated permeability values contribute to the ability of the aquifer to deliver significant production rates over a long period of time.

The Middle and Upper Keg River reefs formed on a carbonate platform created by the Lower Keg River Formation. They grew in small basins surrounded by carbonate shelves and the basins were later filled with Muskeg evaporites, which act as a seal for the traps. The Upper Elk Point Group carbonate strata within the Rainbow Lake Property area can be divided into four distinct paleogeographic regions: the Western Platform Edge/Slope (also known as the Comet Platform), Southern Basin, Northern Basin, and Eastern Platform Edge/Slope.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
LiOH-H2O Crystals t 18,906316,000

Operational metrics

Metrics
Daily processing capacity  ....  Subscribe
Annual production capacity  ....  Subscribe
Daily brine extraction  ....  Subscribe
Brine extraction, LOM  ....  Subscribe
* According to 2023 study.

Production Costs

CommodityUnitsAverage
Cash costs LiOH-H2O USD  ....  Subscribe
Assumed price LiOH-H2O USD  ....  Subscribe
* According to 2023 study / presentation.

Project Costs

MetricsUnitsLOM Total
Total CapEx $M USD  ......  Subscribe
Total OpEx $M USD  ......  Subscribe
Total Taxes $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Net revenue (LOM) $M USD  ......  Subscribe
Net Operating Income (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax NPV @ 10% $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 30, 2023
....................... Subscription required ....................... Subscription required ........... Subscription required Subscription required Jul 18, 2024
....................... Subscription required ....................... Subscription required Subscription required Jul 18, 2024

EmployeesYear
...... Subscription required 2023

Aerial view:

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