CALGARY, Alberta--(BUSINESS WIRE)--Jul 13, 2023--
E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3 Lithium” or the “Company,” Alberta’s leading lithium developer and extraction technology innovator, is pleased to announce that construction of its Direct Lithium Extraction (DLE) field pilot plant is progressing according to schedule.
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E3 Lithium’s Field Pilot Plant Site as of July, 2023 (Photo: Business Wire)
E3 Lithium began receiving equipment, including tanks for brine containment, pipe racks and supporting structural equipment, to site in June and construction has been taking place concurrently. DLE equipment, contained in skids, is set to arrive in late July and early August, at which point all pilot equipment will be piped and wired together. Construction is on track and E3 Lithium estimates commissioning will start and finish in August.
“The E3 Lithium team, in coordination with our local partners, has been steadily advancing the field pilot plant and ensuring it remains on schedule, a testament to the quality of the planning work that began more than a year ago,” said Chris Doornbos, President and CEO, E3 Lithium. “The success of the pilot de-risks our ability to commercialize our resource, one of the world’s largest, and accelerates us on our path to providing made-in-Alberta battery-grade lithium.”
Next Steps
Once all equipment has arrived at site, including DLE skids, commissioning will begin. Commissioning is scheduled to be complete in August, at which point operations will begin and continue into the fall.
More Information
Please visit www.e3lithium.ca/ to stay up to date on E3 Lithium’s pilot and for the latest photos, videos and schedule.
Please see E3 Lithium’s pilot Key Performance Indicators and watch the June 14 Pilot Plant Update webinar with Chris Doornbos for background information.
About E3 Lithium
E3 Lithium is a development company with a total of 16.0 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated and 0.9 million tonnes LCE Inferred mineral resources 1 in Alberta. As outlined in E3’s Preliminary Economic Assessment, the Clearwater Lithium Project has an NPV8% of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax 1. E3 Lithium’s goal is to produce high purity, battery grade lithium products to power the growing electrical revolution. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world.
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President & CEO
E3 Lithium Ltd.
1: The Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43-101 technical report is amended Sept 17, 2021. The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9Mt LCE (inferred). The mineral resource NI 43-101 Technical Report for the Bashaw District Project, effective March 21, 2023, identified 16.0Mt LCE (measured & indicated). All reports are available on the E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR ( www.sedar.com ).
Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company’s brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230713720615/en/
CONTACT: E3 Lithium - Investor and Media Relations
Greg Foofat
Manager, Investor Relations
investor@e3lithium.ca
587-324-2775
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: TECHNOLOGY BATTERIES NATURAL RESOURCES MINING/MINERALS
SOURCE: E3 Lithium Ltd.
Copyright Business Wire 2023.
PUB: 07/13/2023 03:05 AM/DISC: 07/13/2023 03:05 AM
http://www.businesswire.com/news/home/20230713720615/en
