Vulcan Energy (ASX:VUL) has updated its resource estimation for the Mannheim prospect within the Upper Rhine Valley Brine Field (URVBF) in Germany. The updated estimate now stands at 3.22 million tonnes of lithium carbonate equivalent at 155mg per lithium. Vulcan Energy is focused on integrating sustainable lithium and renewable energy production towards a carbon-neutral future. The company aims to provide a carbon-neutral source of lithium by using geothermal energy to power the lithium extraction process.
The update incorporates data from a 3D seismic survey, covering both indicated and inferred resources. This represents an increase of 1.39 million tonnes of lithium carbonate equivalent compared to the previous estimate. In addition to lithium, a maiden geothermal resource projection indicated 2,848 petajoules with 171 petajoules recoverable, and an inferred resource of 10,539 petajoules with 3777 petajoules recoverable.
Vulcan intends to advance the Mannheim prospect with a Scoping Study as part of its phase one Lionheart development. The company aims to deliver baseload geothermal heat to MVV Energie’s district heating network. CEO Cris Moreno stated that this update is a significant step forward in advancing the company beyond its phase one development program.
Moreno added that this further validates the company’s strategy to replicate the current phase into future phases by utilising the URVBF bordering Germany and France. He also noted that the URVBF is the largest lithium resource in Europe and one of the highest quality brine geothermal resources, positioning it as a significant asset for Europe’s energy and critical raw materials security.
