CALGARY, AB, April 21, 2022 /CNW/ - E3 METALS CORP. (TSXV: ETMC) (OTCQX: EEMMF) (FSE: OU7A) (the "Company" or "E3 Metals"), an emerging lithium developer and leading Direct Lithium Extraction ("DLE") technology innovator, is pleased to announce that the Company has engaged an engineering firm to begin the design work for its field pilot plant ("Field Pilot") which will utilize E3 Metals' proprietary sorbent.
The goal of the Field Pilot is to demonstrate a near commercial scale, modular design of the Company's ion-exchange DLE process under real world operating conditions. The Field Pilot will be tied into an existing well that produces brine directly from the Leduc Aquifer in the Company's Clearwater Project. This is the next stage of development, moving forward from the Company's DLE lab-pilot prototype which has delivered successful results of up to 97% lithium recovery across multi-cycle testing. On April 6, 2022, the Company announced it has begun the evaluation of commercial-scale manufacturing of its proprietary sorbent to be utilized in the Field Pilot. The combination of E3 Metals' sorbent technology with a scaled-up ion-exchange system operating in real world conditions is an important step towards de-risking and demonstrating the DLE process and technology at a commercial scale. This major milestone has the potential to unlock the value of a significant world class lithium resource in a secure and friendly jurisdiction.
The Company anticipates the design and final cost estimate phase to be completed within the next six months with construction to follow soon after. The design and construction of the Field Pilot likely will utilize conventional and established ion-exchange equipment which can be scaled to commercial capacities. Ion-exchange technology is used throughout the world in different commercial applications such as water treatment and water purification. This type of commercial equipment is available from multiple global vendors. The initial plan for the Field Pilot will be to operate in the Leduc aquifer over a six-month period to collect and analyze data to further validate the technology and operating parameters. This milestone will lead towards the Company's goal of commercializing its proprietary DLE technology and commercial production of lithium hydroxide from its Clearwater Project.
"This significant milestone towards commercializing the E3 Metals' technology comes together from two main pieces, (1) our sorbent material, and (2) the Field Pilot, where the two combined form the full DLE process," commented the Company's CEO, Chris Doornbos. "Our primary goal has been to develop a simple process, utilizing our proprietary sorbent together with a well-established, commercially scalable processes to help reduce the overall costs of extracting lithium from Leduc brines. We look forward to the design, and our goal of successfully operating E3 Metals' DLE Field Pilot."
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 of 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.
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)
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.
Chris Doornbos, Phone: (587) 324-2775, [email protected]
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