Otsu Resources and geothermal developers sign joint venture agreements

Otsu Resources and Geothermal Development Cooperation(GDA) cooperates in the development of exploration data for lithium saltwater extraction equipment and in power generation and direct geothermal use projects.

In a report released today, Canada's Otsu Resources announced that it has signed a joint venture agreement(JV) with GeothermalDevelopmentAssociates(GDA) in Reno, Nevada. The main business of GDA is to develop geothermal resources for power generation. They hold geothermal leases that overlap Otsu's sand claim in Shaersi's swamp Valley. As a result of the joint venture, GDA and Otsu will share exploration data with the ultimate goal of supporting the development of lithium saline extraction facilities and the development of geothermal power plants for power generation and direct use of hot water. The agreement outlines the partnership, and the two companies will focus on their main strengths in developing lithium salt water and renewable energy.

Brian Findlay, president of Otsu Group, commented: "The connection between geothermal systems and lithium enrichment has been fully demonstrated, so the existence of a powerful geothermal system is a good indicator of potential commercial lithium salts. This factor, together with the priority given to access to green renewable electricity and heat to power the potential future lithium-salt water operations, does not face competition from the surface and water rights, increasing opportunities to identify economic lithium and geothermal resources. "We are very happy to work with Otsu," said Martin Booth, president of GDA. "He understands and appreciates the importance of geothermal resources and how the cooperation can help the two companies advance their respective development. "

The Lithium Saltwater Project in Swamp Valley, the main site of Teels in Otsu, includes identified near-surface lithium salt water, with granted water rights and minimum land debris. The basin below the beach is 8,200 feet(2,500 meters) deep. Previous geothermal exploration results show that at a depth of 131 feet(40 meters) at the Northwest end of the Valley, favorable geochemistry and shallower surface temperatures are as high as 206 °F(97 °C). In March 2017, the Land Administration accepted a notification from Otsu to begin civil works and drilling as part of lithium saltwater exploration. Construction of the road and pad for drilling is under way.

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