Altamin Unveils Boron Boost in Lazio Lithium Project with Positive ANSTO Testwork

Lazio Project Progress and Technical Validation

Altamin Limited (ASX: AZI) has reported continued advancement of its Lazio Project in Italy, adhering to its planned development timeline. The project aims to extract critical raw materials, lithium, boron, and potassium, from high-temperature geothermal brines near Rome. A key highlight this quarter was the successful testwork conducted by the Australian Nuclear Science Technology Organisation (ANSTO), which confirmed that a simulated Cesano C1 brine closely replicates the actual well brine chemistry and behaviour.

ANSTO’s work demonstrated the feasibility of recovering sulphate of potash (SOP) via a conventional mechanical evaporation and precipitation process, sidestepping the need for direct lithium extraction (DLE) technologies or evaporation ponds. This approach promises environmental advantages and potential energy cost savings, aligning well with the EU’s Critical Raw Materials Act and Italy’s revised Mining Decree.

Boron By-Product Enhances Project Economics

Beyond SOP and lithium carbonate, ANSTO’s testwork revealed a substantial opportunity to recover boron as borax from the SOP barren liquor. The value of boron relative to lithium could significantly improve the project’s economic profile, a factor not previously accounted for in the Mineral Resource Estimate. Future optimisation efforts will target battery-grade lithium carbonate purity, further enhancing product quality and market appeal.

Pre-Feasibility Study and Environmental Approvals

Altamin has selected a reputable Italian engineering contractor to undertake a pre-feasibility study for SOP and lithium production, with engagement expected to commence in Q2 2025. Concurrently, environmental impact assessments (EIA) for drilling activities are progressing on schedule, with submissions anticipated within the same quarter. These steps are critical to securing drilling permits and advancing the project towards development.

Gorno Project Acquisition and Regulatory Milestones

On the Gorno front, Altamin completed the acquisition of Appian Italy B.V.’s 29.85% interest in Vedra Metals Srl, consolidating full ownership of the project. The company submitted the required EIA in February 2025, followed by an on-site inspection by the EIA Committee in March. Regione Lombardia has issued a decree permitting monitoring and control activities pending the EIA outcome, which is expected to take up to 10-12 months. Environmental monitoring continues with support from local universities and water utilities, underscoring Altamin’s commitment to regulatory compliance and community engagement.

Corporate and Financial Position

Altamin’s cash balance stood at A$1.742 million as of 31 March 2025, with exploration expenditure of $1.336 million during the quarter. The company allowed a non-binding memorandum of understanding with IREN SpA to lapse in March, focusing instead on advancing its core projects. Management acknowledges the need for additional funding and is pursuing commercial initiatives, including potential sales and grant applications, alongside equity raises to sustain operations and development activities.