The Technology Development Project was awarded through GreenCentre Canada's Raising Innovative and Sustainable Enterprises (RISE) Program
The RISE Program will provide a 6-month Development Project at no cost to advance E3's proprietary Ion Exchange Lithium Extraction Technology
CALGARY, Aug. 14, 2019 /CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3" or "E3 Metals") is pleased to announce that the project "Lithium Extraction from Alberta Oilfield Brines" has been selected for GreenCentre Canada's Raising Innovative and Sustainable Enterprises (RISE) Program. This program will provide a 6-month Development Project with access to GreenCentre Canada's full suite of services to further advance the Company's Proprietary Ion Exchange Lithium Extraction Technology.
GreenCentre's RISE Program assists Canadian businesses that are actively developing sustainable chemistry and materials related products or processes based on innovative technology originating from a Canadian post-secondary institution. The goal of the program is to accelerate the scale-up and commercialization of sustainable technologies, bringing benefits to both the environment and the economy.
Under the RISE program, GreenCentre will conduct key experiments aimed at optimizing the performance of E3 Metals' proprietary Ion Exchange Technology and continue to operate the flow system built with Kingston Process Metallurgy (see news release dated July 31, 2019 on www.sedar.com).
"GreenCentre has contributed significantly to the advancement of E3's proprietary Ion Exchange Technology and we are very encouraged to have been selected for the RISE Program," commented E3 Metals Corp. CEO Chris Doornbos. "The project will assist E3 in operating the lab-scale flow system, advancing the ion exchange sorbent material and working towards scaling the process towards a pilot."
About E3 Metals Corp.
E3 Metals is a lithium development company with 6.7 million tonnes lithium carbonate equivalent (LCE) of inferred mineral resources1 in Alberta. Through the commercialization of its proprietary ion exchange lithium extraction technology, E3 plans to quickly move towards the production of high purity, battery grade, lithium hydroxide.
E3 Metals Corp. combines a significant resource with the right technology solutions that have the potential to deliver lithium to market in one of the best jurisdictions in the world. The development of this resource through brine production is a well understood venture in Alberta, where this brine is currently being produced to surface through extensive oil and gas development.
While the lithium brine and hydrocarbons are mutually exclusive, the Leduc Reservoir can support the production of brine few others can boast. With an average and consistent lithium grade of 77.4 mg/L in the Clearwater Resource Area1 E3 Metals' proprietary lithium extraction technology can quickly produce a concentrate with a grade over 5000mg/L2. With 99% of the impurities removed at the same time and recoveries averaging 90%3, this produces a concentrate feedstock that is likely to be processed directly by conventional lithium production technology to produce high purity lithium hydroxide (LiOH∙H2O). The Company's plans are to deliver a process facility of 10,000 tonnes lithium hydroxide by 2022 and continue expansion to an eventual 50,000 tonnes lithium hydroxide/year.
Chris Doornbos (P.Geo), CEO and Director of E3 Metals Corp., is a Qualified Person as defined by NI 43-101 and has read and approved the technical information contained in this announcement.
1: E3 Metals has released information on three 43-101 Technical Reports totaling a resource of 6.7 Mt lithium carbonate equivalent. The Central Clearwater Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE (inferred), is dated effective October 27, 2017, and the North Rocky Resource Area (NRRA) Technical Report was dated effective October 27, 2017, identifies 0.9Mt LCE (inferred). A third report for the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE (inferred) and was filed on June 15, 2018, effective June 4, 2018. All reports are available on SEDAR (www.sedar.com)
2: E3 Metals News Release, March 4, 2018: E3 Metals Achieves Major Milestone with Breakthrough Performance of its Proprietary Lithium Extraction Technology. Available on www.e3metalscorp.com and SEDAR (www.sedar.com)
3: E3 Metals News Release, December 4, 2018: Development of E3 Metals' Extraction Technology Improves Lithium Concentration and Recovery. Available on www.e3metalscorp.com and SEDAR (www.sedar.com)
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.
This news release includes certain forward-looking statements concerning the potential of the Company's projects and technology, 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.
SOURCE E3 Metals Corp.
For further information: CONTACT INFORMATION: 205 - 227 10th St NW, Calgary, AB T2N 1V5, +1 (587) 324-2775, [email protected], e3metalscorp.com