Vulcan Energy Resources Completes 7th Well Test in Field Development Plan; Shares Near Six-Year Low

MT Newswires Live10-15 09:53

Vulcan Energy Resources (ASX:VUL) completed its seventh well test in the planned 28-well Lionheart field development plan, the first well to re-inject brine back into the matrix of the sandstone reservoir, according to a Thursday filing with the Australian bourse.

The re-injection of lithium-depleted brine back into the reservoir matrix confirms the potential to use lithium-depleted brine to push and actively sweep larger portions of the underground formation to boost lithium recovery, the filing said.

The results will inform the integrated geological and dynamic reservoir interpretation and guide the design and execution of upcoming re-injection wells, per the filing.

Shares fell 4% in midday trade Thursday, hitting their lowest since November 2020.

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