Fool's Gold may be worth more than previously believed

• Scientists discovered lithium in fool’s gold which is needed for green energy
• The discovery could mean old mines can be re-used instead of building new
• READ MORE:  The devastating risks of transitioning to ‘green’ energy

Fool’s gold could kick off this century’s ‘gold rush’ after scientists discovered it contains a highly coveted metal needed to produce greener energy.

Scientists at West Virginia University discovered a surprising amount of lithium in 15 rock samples of pyrite, the common mineral that resembles its valuable counterpart, which formed about 390 million years ago in the Appalachian basin.

The findings have led the researchers to question if old industrial mines could become a valuable source of lithium – but the discover could reach far beyond the East Coast mountain range.

Lithium batteries are used to power a wide array of technology including phones, laptops, e-bikes, handheld power tools, EVs and are even used in solar power backup storage.

Researchers at West Virginia University discovered lithium in fool’s gold (pictured) in the Appalachian Basin

The findings have led the researchers to question if old industrial mines could become a valuable source of lithium – but the discover could reach far beyond teh East Coast mountain range (pictured is the Appalachian Mountains in North Carolina)

The demand for lithium is soaring as the US moves to switch to green energy like electric vehicles which uses lithium-ion batteries which run the risk of posing a serious fire hazard.

Sulfur-rich pyrite doesn’t require as many resources during the extraction process which means its environmental impact is much lower than the -ion alternative.

And fool’s gold is found in quartz veins that is mined throughout the US in states like Colorado, Arizona, Pennsylvania and Montana, which means there could be much more lithium hiding through the US.

Researchers in the electrochemical and engineering world have ‘already begun to look at how lithium-sulfur batteries could replace lithium-ion ones,’ said the study’s co-author Shailee Bhattacharya.

‘I am trying to understand how lithium and pyrite could be associated with one another,’ she said.

The team said they ‘unexpectedly’ found that even with a relatively small amount of lithium in samples, it can release a significant portion (up to 54 percent) of all the lithium from pyrite alone.

Lithium is used to power a wide array of technology from electric vehicles to laptops and cell phones. There is currently 110,000 tons of lithium mined each year worldwide, but by 2030, that number will need to increase to between 260,000 to nearly 500,000 tons

America’s lithium boom is underway and there are currently 72 proposed mines in the nation

While it is unclear how the white gold formed in the fool’s gold, researchers noted that lithium is highly sensitive to small increases in temperature and shale, found along the mountain range, forms with the same geological process.

‘This is a well-specific study’ but it hints there is the possibility that shales could be sourced from old mines,’ Bhattacharya said.

READ MORE: America’s $232 billion lithium industry could drain billions of gallons of water from Colorado River 

A team of students at Arizona University conducted a ‘groundbreaking’ investigation, finding a majority of the operators plan to pull water from already stressed sources like the Colorado River

‘We can talk about sustainable energy without using a lot of energy resources,’ she added.

The world currently produces roughly 110,000 tons of lithium each year, but the International Energy Agency (IEA) has predicted that the world will need 2.5 to five times as much lithium by 2030 – amounting to between 260,000 and nearly 500,000 tons.

However, the real problem isn’t quantity but the capacity to produce the amount of lithium to sustain the global green initiatives and fool’s gold could be the answer.

Lithium found in fool’s gold could present a cost-effective, more environmentally friendly and safe approach because it is extracted from the sulfur-rich mineral.

Old industrial sites leave behind what’s called ‘mine tailings,’ which are comprised of minerals that were left behind after the targeted mineral was extracted.

New mines can cause a negative and serious environmental impact that can continue for years after it shuts down such as deforestation, pollution, soil erosion, loss of biodiversity.

Mining for minerals like lithium and cobalt that are used to power electric vehicles has left 23 million people in the US exposed to toxic waste and has destroyed 16 million acres of farmland and polluted 310,000 miles of rivers.

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