Enertopia Signs
NDA For Review of
Lithium Processing Pilot Plant
Kelowna, BC, CANADA
-- October 7, 2020 -- InvestorsHub NewsWire -- Enertopia
Corporation (Ticker
Symbol: ENRT) (the "Company" or
"Enertopia")
provides the following update.
Enertopia has
signed an NDA to
share
data for an initial pilot
plant which will showcase the possibility of building a net carbon
neutral Lithium mining operation in the Nevada
desert.
The company's
technical advisors believe that the positive testing to
date may warrant patent
protection, and thus the Company is keeping all internal data
strictly confidential at this time. Additionally, beyond the
above-mentioned
NDA, the
Company has also signed several NDA's with industry partners as it
works to reach its goal of a low capex solution to battery grade
lithium production.
Assay Testing
Continues:
Our current
phase of Lithium solution testing continues to support further work
in the area of reduced acid
consumption. Acid reagent consumption is a considerable expense in
the potential processing of Lithium claystone projects
worldwide. Unfortunately, with the increased amount of
industry
drilling
the
turnaround time for assay work has increased from 10 days to
approximately 5 weeks. These delays are expected to last
through the remainder of 2020 and into Q1
2021.
Our latest
series of testing has focused on potential industry low acid
consumption rates of under 5% by volume weight using various acids.
Our tests have produced recovery rates of between 55% to 62%
depending on the type of acid, and type of Lithium claystone being
treated. We have also been reviewing other
3rd party data that could
be extremely beneficial in lowering acid costs by both unit
cost
and reducing
transportation costs. We believe that using novel approaches to
acid consumption will lead to higher lithium in solution
values per % of acid by
volume that is the current industry norm, with lower acid
consumption levels. This has the potential of lowering
upfront capex costs and reducing neutralizing waste claystone (back
end expense), thus reducing water consumption needs.
Concurrently
with methods of acid production, the company has been reviewing
novel applications, using clean technology, to increase the
recyclability of process water. Analysis of these methods indicate
the potential for greater than 90% of the process water being
reused over time.
Conclusion:
We reaffirm our Conclusion that we
stated in our last press release on August 3, 2020 below and are
pleased that Tesla Inc. came to the same conclusion with respect to
Li claystone deposits in Nevada during their battery day
announcement on September 22, 2020:
We continue to believe that the
Lithium hosted claystone deposits in Nevada will become major
sources of Lithium production in the 2020s while offering the USA a
secure domestic supply of battery grade Lithium products. We
applaud the members of Congress that see the need for bi-partisan
support for securing a domestic supply of strategic metals which
include Lithium. We are also excited to see and witness the
convergence of several technologies that are changing the very way
we produce and consume electrical energy amidst the growing
opportunities for a better world, all in a far shorter time span
than most realize.
The Company thanks the shareholders
for their questions. We continue to work diligently and
methodically along our path that we believe over time will benefit
all current stakeholders the most.
The Qualified
person:
The technical data in
this news release have been reviewed by Douglas Wood,
P.Geol
a
qualified person under the terms of NI 43-101.
About
Enertopia:
A Company focused on
using advanced sustainable technology for extracting lithium and
verifying or sourcing other emerging intellectual property in the
EV & Green Technology sectors in order to
build
shareholder value.
Enertopia shares are
quoted in the United States under ticker symbol
ENRT. For additional information, please visit www.enertopia.com
or call
Robert McAllister, the President at 1.888.ENRT201
This release
includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Statements which
are not historical facts are forward-looking statements. The
Company makes forward-looking public statements concerning its
expected future financial position, results of operations, cash
flows, financing plans, business strategy, products and services,
potential and financing of its mining or technology projects,
growth opportunities, plans and objectives of management for future
operations, including statements that include words such as
"anticipate," "if," "believe," "plan," "estimate," "expect,"
"intend," "may," "could," "should," "will," and other similar
expressions that are forward-looking statements. Such
forward-looking statements are estimates reflecting the Company's
best judgment based upon current information and involve a number
of risks and uncertainties, and there can be no assurance that
other factors will not affect the accuracy of such forward-looking
statements., current and future impact of COVID-19; foreign
exchange and other financial markets; changes in the interest rates
on borrowings; hedging activities; changes in commodity prices;
changes in the investments and expenditure levels; litigation;
legislation; environmental, judicial, regulatory, political and
competitive developments in areas in which Enertopia
Corporation operates. There
can be no assurance that the testing for the brine recovery system
will be effective for the recovery of Lithium and if effective will
be economic or have any positive impact on Enertopia,
or that current talks with respect to potential joint ventures or
partnerships will result in definitive agreements or the mineral
resources will be economic or mined. The User should refer to the
risk disclosures set out in the periodic reports and other
disclosure documents filed by Enertopia
Corporation from time
to time with regulatory authorities.
The OTC has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
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