Altamin (ASX:AZI), an Australian-listed energy company, continues to zero in on Italy’s untapped reservoir of strategic metals. In another exploration project, the company has set its eyes on twin exploration applications to open lithium production and geothermal power generation. After lodging two other exploration license (EL) applications in the Lazio region of central Italy, AZI is gunning to become the long-term and strategic supplier of battery metals in the EU.
The new exploration licenses (EL) applications target regions to the west and southeast of Lake Bolsena, in the province of Viterbo, 80km north of Rome. After extensive observation, the company noticed that areas under both EL applications contain high salinity brines with high mineral contents. Also, historical drilling results show that the regions are highly prospective for geothermal power generation, while the underlying reservoirs have not yet been exploited.
If lithium is found in sufficient quantities, Altamin will consider commercial extraction for sale to electric vehicle customers in the EU, as well as for the local production of geothermal energy. The next step in this proposed application is for the Lazio regional government to evaluate the Environmental Impact Assessment (EIS) of the proposed EL work progress. These two projects are very similar to the Campagnano EL and Galeria EL applications lodged by AZI, both of which already received exemptions from EIS assessment for the proposed work progress from the Lazio government.
If the ELs are granted, AZI is ready to put time and resources into a desk-top study involving collecting and reviewing all historical data gathered during the construction of wells and analyzing brine compositions. The historical drilling is also expected to provide Altamin with vital information about geothermal energy in Lazio.
In similar news, Altamin has also lodged applications over Monte Bianco and Corchia, two of Italy’s most significant copper, manganese, and cobalt-rich historical mining districts. The company also has the Gorno Zinc project in the Lombardy region of northern Italy.
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