CALGARY, AB, Feb. 4, 2021 /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, is pleased to announce the opening of its
direct lithium extraction (DLE) development and testing facility in
Calgary. This facility will be the
site of the continued progression towards commercialization of the
Company's DLE technology. This includes the scale-up and lab
prototype campaign in preparation for the field pilot plant. All
equipment within the facility is owned by E3 Metals' and will be
operated exclusively by E3 Metals' growing team of technical
experts. E3 Metals' DLE process test work will continue to
selectively extract lithium directly from oilfield brine sourced
from the Leduc Reservoir within E3 Metals' resource area. In
addition, the Company will use the space to ramp up development of
the full flowsheet; the production of lithium hydroxide from
oilfield brine, throughout 2021.
"We are very excited to be consolidating our direct lithium
extraction process development work into our new E3 Metals' testing
facility right here in Calgary,"
commented Chris Doornbos, E3 Metals'
President and CEO. "Our team is well on the way to transferring E3
Metals' core process development work to Calgary and we anticipate full operational
efficiency before the end of the month."
About E3 Metals Corp.
E3 Metals is a lithium development Company with 7.0 million
tonnes of lithium carbonate equivalent (LCE) inferred mineral
resources1 in Alberta
and an after-tax NPV8% on its Clearwater Lithium Project
of USD 820M with a 27%1
IRR. Through the successful scale up its direct lithium extraction
(DLE) technology towards commercialization, E3 Metals' goal is to
produce 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
http://www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President &
CEO
E3 METALS CORP.
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1: The Preliminary
Economic Assessment (PEA) of the Clearwater Lithium Project NI
43-101 technical report is effective Dec 21, 2020. E3 Metals has
also released three NI 43-101 Technical Reports providing a total
resource of 7.0Mt LCE. The Clearwater Lithium Project PEA resource
estimate, identifying 2.2Mt LCE (inferred) effective December 21,
2020; the North Rocky Resource Area (NRRA) Technical Report
effective October 27, 2017 identifying 0.9Mt LCE (inferred); and
the Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE
(inferred) dated June 4, 2018. All reports are available on the
Company's website (e3metalscorp.com/technical-reports) and SEDAR
(www.sedar.com)
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Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements
concerning the Offering and the use of the net proceeds therefrom,
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.
SOURCE e3 Metals Corp.