CALGARY, AB, June 23, 2021 /CNW/ - E3 METALS CORP. (TSXV:
ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"), an
emerging lithium developer and leading direct lithium extraction
("DLE") technology innovator, is pleased to highlight results from
one of its improved sorbents which has demonstrated longer life and
consistent performance in batch testing with 97% lithium recovery
while removing over 99% of the critical impurities.
E3 Metals opened its Calgary-based testing facility in early 2021
with a focus on improving the manufacturing process for its sorbent
material, the critical component of its DLE technology. This
improved sorbent has been tested rigorously over the past four
months and has achieved incredibly high performance represented by
high recovery and removal of impurities, while demonstrating a
robust cycle life at batch scale.
Outlined in the table below, the high recovery of lithium from
the raw brine is compared alongside the low recovery of other
elements. This represents the impurity removal of each critical
element in the resulting concentrate, E3's Li-IX solution, and
demonstrates the selectivity of lithium over other important
elements. This new sorbent is a leading candidate in the flow
column testing as previously outlined in the Company's June 9, 2021 news release alongside the other two
candidates.
|
Ion
|
Recovery in
Concentrate
|
|
Li
|
97.0%
|
|
Ca
|
0.21%
|
|
Mg
|
0.30%
|
|
K
|
0.04%
|
|
Na
|
0.05%
|
CEO, Chris Doornbos commented,
"The growing team at our testing facility continues to outperform
as we see a growing number of these types of rapid advancements.
The results outlined here are very encouraging so early out of the
gate and demonstrate the high performance of E3's industry leading
DLE technology. The low levels of impurities highlight how E3's
technology is engineered for purity as we aim for a final lithium
product that can be sold directly to the battery market, a key
differentiator."
E3 Metals announces that it has granted incentive stock options
("Options") to purchase a total of 745,000 common shares at an
exercise price of $1.70 per share to
certain directors, officers, and employees of E3 Metals in
accordance with the provisions of its stock option plan and staff
compensation policy. The Options will expire five years from the
date of grant and are subject to vesting conditions.
About E3 Metals
E3 Metals is a lithium development
Company with 7.0 million tonnes of lithium carbonate equivalent
(LCE) inferred mineral resources1 in Alberta and an NPV8% on its
Clearwater Lithium Project of USD 1.1
Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR
after-tax1. Through the successful scale up its 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.
|
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)
|
Forward-Looking and Cautionary Statements
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
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.