Texas Panhandle Lithium Development Project

Lithium rich fluid was found associated with petroleum brine fluids in an area of South West USA known as the Texas Panhandle. Geology area surveys cover over 4,100 sq. miles with already 21 measurements of Li concentration averaging over 304 ppm. Willcox Energy will re-enter old petroleum oil/gas wells to evaluate brine compositions of Li and other ions for commercial extraction. This would represent a low-cost wellbore operating area with a large skilled labor force for reactivation and pumping Operations. An area of 150 sq. miles, would be enough to capture and build on Li operations to the scale to have Li carbonate reserves of 4 million tons. This is a long-life asset, capable of producing a minimum of 20,000 tons of Li carbonate per year. Gross margins are excellent with costs between $4,300 to $5,800 per ton compared to sales values exceeding the $65,000 per ton and still on the rise." Proving up the play has a low-cost of $3 millions over the initial period of 12 months and an additional funding of $13 millions will be needed to get the full acreage land position completed.