CALGARY, Alta., July 28, 2022 /CNW/ – E3 LITHIUM LTD. (TSXV: ETL) (FSE: OU7A) (OTCQX: EEMMF), from Alberta Leading lithium developer and innovator of Direct Lithium Extraction (DLE) technology, oversaw the successful manufacture of its first commercial-scale, continuously produced sorbent, critical to the success and commercialization of its lithium-based technology. DLE ion exchange.
E3 Lithium (E3) worked with a third-party design and equipment manufacturer using their in-house development equipment to produce an initial 20 kg of E3’s proprietary sorbent in one continuous cycle. Prior to producing this commercial quantity, the E3 development team produced internal absorbers in sub-kilogram quantities to support internal testing work. The purpose of this commercial production was to validate the successful transition from small-scale batch production in the laboratory to continuous commercial-scale production.
E3 analyzed the sorbent produced from this continuous scale production equipment compared to the in-house produced batch and found that the new product had equal or better performance with rapid and high lithium recovery rates of more by 97%.
This 20 kg test demonstrated that large scale production is possible with this equipment and positions E3 to achieve its goals of:
- Ask the supplier to produce several tons of sorbent to be used in the E3 field pilot project
- Design of equipment to be implemented in the commercial processing facility under E3’s Clearwater Project
“We are extremely pleased with the results of our first commercial sorbent production and its high lithium recovery rates,” said Chris Doornbos, President and CEO of E3. “This commercially produced sorbent provides confidence in the viability of scaling up E3 production to provide the larger volumes of high-quality sorbent required for commercial operations.”
About E3 Lithium
E3 Lithium is a development company with a total of 24.3 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in alberta. As noted in E3’s Preliminary Assessment, the Clearwater Lithium Project has an 8% NPV of $1.1 billion with an IRR of 32% before tax and $820 million with an after-tax IRR of 27%1. Through the successful scale-up of its DLE technology to commercialization, E3 Lithium’s goal is to produce battery-grade, high-purity lithium products. 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 DoornbosPresident and CEO
E3 Lithium Ltd.
Forward-Looking Statements and Cautions
This press release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by words such as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to to future events and results. Forward-looking statements are based on management’s current beliefs and expectations. 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, fluctuation in commodity prices, efficiency and feasibility of emerging lithium mining technologies that have not yet been tested or proven at commercial scale or on the Company’s brine, competitive risks and availability of financing, as further described in our recent filings titles available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution you not to place undue reliance thereon. We undertake 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.
1: The Preliminary Economic Assessment (PEA) of the NI 43-101 Technical Report for the Clearwater Lithium Project is effective September 17, 2021. The NI 43-101 Technical Report for Mineral Resources on the North Rocky Resource Area (NRRA), effective October 27, 2017 , identified 0.9 Mt LCE (inferred). The Bashaw District resource estimate is described in the news release titled “E3 Lithium Outlines 23.4 Mt LCE Inferred Mineral Resource in Consolidated Bashaw District” dated July 11, 2022, the full technical report will be available within 45 days of release. date of press release. All reports are available on the Company’s website (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com)
SOURCE E3 Lithium Ltd.
For further information: E3 Lithium – Investor and Media Relations: Robin Boschman, Director, External Relations, [email protected]587-324-2775