CALGARY, AB, Sept. 8, 2020 /CNW/ - E3 METALS CORP. (TSXV:
ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"), an
emerging lithium developer and leading lithium extraction
technology innovator, today announced the receipt of a government
grant totaling $98,798 from Alberta
Innovates that will assist in funding a project to determine the
development plan and costs of brine production from the Leduc
Reservoir in Alberta. This work is being completed through a
joint collaboration with Scovan Engineering Inc. and Fluid Domains
Inc.
Alberta has abundant lithium
resources that have not been produced commercially to date. E3
Metals has developed the key to unlocking this brine resource – a
proprietary Direct Lithium Extraction ("DLE") technology that is
being optimized and scaled up in collaboration with global lithium
producer Livent Corporation (NYSE:LTHM). This technology allows the
Company to extract lithium from its lithium brine resource at
faster production and higher recovery rates than others in the
industry.
E3 Metals was successful in receiving funding through the
Voucher program at Alberta Innovates. The Company will be
integrating its DLE technology with traditional oilfield methods.
Using the drilling, reservoir and facilities expertise based in
Alberta, this project aims to
optimize and deliver project solutions along with capital
expenditure estimates for lithium brine production and brine
pre-treatment.
"The development work included under this grant will lay the
foundation as we begin work towards project feasibility," commented
Chris Doornbos, chief executive
officer of E3 Metals Corp. "This grant greatly assists the
Company's advancement and we appreciate the support from Alberta
Innovates."
This will be the first work of its kind in Alberta that focuses on lithium, supporting a
new and highly prospective industry, aligning with the Canada-US
Joint Action Plan on Critical Minerals strategy, which secures
supply chains for critical minerals needed for important sectors.
The delivery of this work supports E3 Metals' growth and
advancement as the Company moves towards the goal of battery grade
lithium compound production in Alberta.
About Scovan Engineering
Scovan Engineering is a Calgary-based firm that specializes in
offering innovative and sustainable solutions for industrial,
renewable and emerging energy projects. Their multidisciplinary
team provides engineering, procurement and construction management
services (EPCM). Key management personnel includes president
Donovan Nielsen, a professional
mechanical engineer from the University of
Alberta with experience in steam-assisted gravity drainage
(SAGD), fuel cells and other innovative energy technologies.
About Fluid Domains Inc.
Fluid Domains is a hydrogeology consultancy that provides technical
support to clients from many sectors, including: energy, consulting
companies, municipalities, mining, policy development and expert
testimony. Gordon MacMillan,
P.Geol., is a key management person who will be heavily involved
with the project. Mr. MacMillan is an owner of Fluid Domains and
has 20 years of experience providing strategic leadership on
modelling and hydrogeological characterization.
About Alberta Innovates
Alberta Innovates is a provincially funded corporation with a
mandate to deliver 21st-century solutions for the most compelling
challenges facing Albertans. They do this by building on the
province's research and technology development strengths in the
core sectors of health, environment, energy, and food and fibre,
and platforms such as clean technology, digital technology for
business transformation, data-enabled innovation, and innovative
production and distribution. They work with partners to diversify
the provincial economy, improve environmental performance and
enhance Albertans' well-being through research and innovation.
albertainnovates.ca
About E3 Metals
E3 Metals is a lithium development
company with 6.7 million tonnes of lithium carbonate equivalent
(LCE) inferred mineral resources1 in Alberta. E3 Metals is currently
advancing its proprietary direct lithium extraction (DLE) process
in partnership with Livent Corporation, a global leader in lithium
production, under a joint development agreement. Through the
successful scale up its DLE process towards commercialization, E3
Metals plans to quickly move towards the production of high purity,
battery grade, lithium products. With a significant lithium
resource and innovative technology solutions, E3 Metals has the
potential to deliver lithium to market from one of the best
jurisdictions in the world. E3 Metals also continues to work
with partners at the University of
Alberta and at GreenCentre Canada. For more information
about E3 Metals, visit www.e3metalscorp.com .
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President &
CEO
E3 METALS CORP.
Chris Doornbos (P.Geo), CEO and
Director of E3 Metals Corp., is a Qualified Person as defined by NI
43-101 and has read and approved the technical information
contained in this announcement.
1. E3 Metals has released information on three 43-101 Technical
Reports totaling a resource of 6.7 Mt LCE. The Central Clearwater
Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE
(inferred), is dated effective October 27,
2017, and the North Rocky Resource Area (NRRA) Technical
Report was dated effective October 27,
2017, identifies 0.9Mt LCE (inferred). A third report for
the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE
(inferred) and was filed on June 15,
2018, effective June 4, 2018.
All reports are available on SEDAR (www.sedar.com)
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.
This news release includes certain forward-looking statements
concerning the potential of the Company's projects and technology,
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.
SOURCE E3 Metals Corp.