Enertopia Announces Maiden NI 43-101
Resource Estimate
Kelowna, BC,
Canada -- April 2, 2020 -- InvestorsHub NewsWire --
Enertopia Corporation (ENRT)
on the OTC (the "Company" or "Enertopia")
is pleased to provide the following maiden resource estimate at the
Company's lithium claystone property at Clayton Valley, NV.
At a 400 ppm
lithium cut-off, the deposit has 81.7 million
tonnes at 1,121 ppm lithium as indicated
resources, and 18.1 million tonnes
lithium at 1,131 ppm lithium as inferred resources, this
equates to 487,887 tonnes
indicated and 109,410 tonnes
inferred of lithium carbonate equivalent –
("LCE").
A
breakdown of grade and tonnage by resource category and LCE by
cut-off values is given in Table 1 below.
Indicated Mineral Resource
|
|
400 ppm
Li Cutoff
|
700 ppm
Li Cutoff
|
1000 ppm
Li Cutoff
|
1200 ppm
Li Cutoff
|
Tonnage
|
81,732,150
|
75,951,000
|
59,534,100
|
34,478,100
|
Average
Grade
|
1121
|
1160
|
1247
|
1346
|
Contained
Li (kg)
|
91,656,383
|
88,129,744
|
74,225,389
|
46,424,369
|
LCE (Tonnes)
|
487,887
|
469,115
|
395,102
|
247,117
|
|
|
Inferred Mineral Resource
|
|
400 ppm
Li Cutoff
|
700 ppm
Li Cutoff
|
1000 ppm
Li Cutoff
|
1200 ppm
Li Cutoff
|
Tonnage
|
18,165,600
|
17,252,100
|
15,999,300
|
8,913,150
|
Average
Grade
|
1131
|
1156
|
1170
|
1196
|
Contained
Li (kg)
|
20,554,207
|
19,948,516
|
18,719,880
|
10,664,088
|
LCE (Tonnes)
|
109,410
|
106,186
|
99,646
|
56,765
|
|
|
|
|
|
Table
1
SOME KEY POINTS
FROM 43-101 Report:
-
Preliminary testing
for the extraction of the lithium from the mined material has
indicated that the material will be relatively inexpensive to
process.
-
From the preliminary
testing, the sediments will not require crushing or grinding prior
to processing but may require some preprocessing to upgrade the
material by removing the coarser fraction, which has been found to
be of lower grade.
-
The type of
processing envisioned will have a much smaller footprint than
lithium brine operations, which now employ large evaporation ponds,
making the proposed operation more environmentally
friendly.
Table 2 below shows
the average grade of each major lithologic unit within the model.
the reduced sediments tend to be higher grade than the oxidized
units and are
in
bold
below.
Lithologic
unit
|
Weighted
average grade Li ppm
|
Surface
Gravel
|
790
|
Upper Olive
Claystone
|
834
|
Main Blue
Claystone
|
1136
|
Dark
Blue Black Claystone
|
1464
|
Lower Olive
Mudstone
|
1082
|
Table 2
Robert McAllister,
President and CEO, commented "We are very pleased with our maiden
43-101 resource. We used a higher-grade cutoff and the resource
shows very good continuity in resource tonnage as the ppm cutoff is
raised to come up with a strong resource number based on the
current Lithium market metrics and these are laid out in detail in
the company's maiden 43-101 report."
The full 43-101
Report will be filed within 45 days from this
release and the report can also be found on the company's website
at www.enertopia.com with further details.
Below is Figure 1 showing the company's property and drill hole
locations for the 4 diamond drill holes used in the resource
study.
Figure 1 from google
earth showing the property and four drills used in the maiden
43-101 resource
The
technical information contained in this news release has been
reviewed and approved by Douglas Wood,
P.Geol,
a
Certified
Professional
Geologist who is a Qualified Person with respect to
Enertopia's
Clayton
Valley Lithium Project as defined under National Instrument
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., 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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