How Is Altamin Unlocking Lithium and Zinc Riches in Italy’s Lazio and Gorno Projects?
Altamin Limited progresses its innovative Lazio lithium and sulphate of potash project with key engineering studies underway, while its Gorno base metals project reports exceptional zinc, lead, and silver assay results, setting the stage for strategic partnership discussions.
- Confirmed conceptual flowsheets for lithium and sulphate of potash extraction at Lazio
- RINA S.p.A. appointed for Class 4 study and environmental impact assessment
- Exceptional high-grade zinc, lead, and silver results from Gorno channel sampling
- Argent Partners engaged to lead sale or strategic partnership process for Gorno
- Group cash balance stands at A$1.1 million as of 30 June 2025
Lazio Project – Pioneering Critical Minerals from Geothermal Brine
Altamin Limited has made significant strides in developing its Lazio Project, located just north of Rome, Italy. The project aims to extract lithium, boron, and sulphate of potash (SOP) from high-temperature geothermal brines, leveraging renewable energy to power a mechanical evaporation process. This innovative approach promises to reduce energy costs and environmental impact by eliminating the need for surface evaporation ponds, a common feature in traditional extraction methods.
During the quarter, Altamin received final confirmation from the Australian Nuclear Science and Technology Organisation (ANSTO) and the Saskatchewan Research Council (SRC) validating the conceptual flowsheets for lithium and SOP extraction from simulated Cesano-1 brine. These results underpin the technical feasibility of producing battery-grade lithium carbonate and recovering boron as a valuable by-product, potentially enhancing project economics beyond initial resource estimates.
Further advancing the project, Altamin appointed RINA S.p.A., a globally recognized Italian engineering and consulting firm, to deliver an AACE Class 4 pre-feasibility study (PFS) covering processing facilities for SOP, lithium, and boron. RINA will also prepare the Environmental Impact Assessment (EIA), a critical step towards securing drilling permits and progressing development. Meanwhile, local geothermal consultants Steam Srl continue work on drill pad design and permit applications, with landowner negotiations well advanced.
Gorno Project – Exceptional Grades Signal Resource Growth Potential
On the base metals front, the Gorno Project delivered outstanding assay results from the final batch of channel samples collected during 2024. Highlights include zinc grades exceeding 40% in several samples, accompanied by significant lead and silver content. These high-grade intersections extend mineralisation beyond the current Mineral Resource Estimate footprint, particularly in the Parina East and Pian Bracca areas, suggesting a broader and more continuous mineralised system than previously understood.
Altamin’s enhanced geological understanding from this sampling program supports the potential for resource expansion, which could materially impact the project’s valuation. In line with corporate strategy, the company appointed London-based Argent Partners to lead a process aimed at securing a sale or attracting a strategic partner for the Gorno Project. Argent’s extensive experience in European base metals transactions adds weight to this initiative.
Corporate and Financial Position
Altamin reported a group cash balance of A$1.1 million at the end of June 2025. Exploration expenditure for the quarter was modest at $0.3 million, reflecting a disciplined approach to advancing key projects while managing cash flow. The company acknowledges the need for additional funding to sustain operations and exploration activities beyond the near term. To this end, it is pursuing commercial initiatives including the Gorno sale process and potential grant funding, alongside maintaining dialogue with major shareholders regarding equity raising options.
While the company’s cash runway is currently estimated at under two quarters based on operating outflows, management expresses confidence that ongoing strategic initiatives will secure the necessary capital to continue advancing its portfolio and meet medium-term objectives.
Bottom Line?
Altamin’s dual-track progress on critical minerals and base metals projects positions it well for upcoming technical milestones and strategic partnerships, though funding remains a key watchpoint.
Questions in the middle?
- How will RINA’s Class 4 study influence the timeline and capital requirements for the Lazio Project?
- What are the potential terms and timing for the Gorno Project sale or strategic partnership?
- Can Altamin secure sufficient funding to sustain operations and exploration beyond the next two quarters?