AB, April 11, 2023 /CNW/ - E3 LITHIUM LTD.
(TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), "E3" or the "Company,"
Alberta's leading lithium
developer and extraction technology innovator, is pleased to
announce it has received approval on its Facility Application from
the Alberta Energy Regulator (AER) for its 2023 field pilot plant.
The license granted by the AER allows E3 to construct and operate
the necessary equipment to run the direct lithium extraction pilot,
planned to begin operations in Q3 2023.
The pilot plant will be located at the first well E3 drilled in
its 2022 inaugural drill program, located east of the Town of Olds
in E3's Clearwater Project Area. In the February 2, 2023 news release, E3 outlined the
details and timeline expected for the field pilot.
The field pilot is on schedule, with site construction and
pre-operation planned to commence in early May. As outlined
previously, E3 has been developing multiple potential flow sheets
and the pilot is designed to be able to test several lithium
extraction systems to define the optimal commercial design.
Additional details and the Key Performance Indicators (KPIs) of the
process systems will be outlined by June of this year, ahead of the
"Since communicating our plans to start operating our field
pilot plant in Q3 of this year, we have made excellent progress,"
said Chris Doornbos, President and
CEO of E3 Lithium. "We are incredibly excited to be field testing
ion exchange technology for direct lithium extraction in real-world
operating conditions this year."
E3 will continue to provide updates on its field pilot
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
resources1 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-tax1. 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
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President &
E3 Lithium Ltd.
1: The Preliminary
Economic Assessment (PEA) for the Clearwater Lithium Project NI
43-101 technical report is effective 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
(measured & indicated) will be available 45 days from March 21,
2023. All reports are available on the E3 Lithium's website
(e3lithium.ca/technical-reports) and SEDAR
Forward-Looking and Cautionary
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
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.
SOURCE E3 Lithium