E3 Metals files NI 43-101 technical report for its Exshaw West 3.9Mt LCE inferred resource
Technical report includes results of concentration technology testing on Exshaw West Petro-Lithium brines which demonstrated 16 times lithium concentration and removal of over 99% metal impurities
CALGARY, June 19, 2018 /CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals") is pleased to announce that the Company has filed the NI 43-101 technical report for its Exshaw West property. The independently prepared report details the addition of 3.9Mt of Lithium Carbonate equivalent (LCE) resource (inferred) and includes the results of recent metallurgical testing of the Company's proprietary lithium concentration technology. The report is now available on SEDAR at www.sedar.com as well as on the Company's website. Please refer to the news releases of May 3, 2018 and May 29, 2018 for more detail.
About E3 Metals Corp.
E3 Metals is a Petro-Lithium company rapidly advancing the development of direct recovery lithium brine projects in Alberta. E3 Metals holds lithium resources at 6.7 Mt LCE (inferred)1. The Company has a compelling competitive advantage by virtue of having access to extensive infrastructure built by the Oil and Gas industry in Alberta. This has provided E3 Metals with low finding costs, as the Company has been able to sample existing wells to define its resource. This infrastructure may also provide wells and pipelines for a future lithium production operation, potentially reducing the Company's future capital requirements. The Company's immediate goal is to demonstrate a commercially viable chemical concentration process and believes this is a key driver to commercial production of its Alberta Petro-Lithium brine resource. More information about E3 Metals can be found on our website by visiting: www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO E3 METALS CORP.
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.
1E3 Metals has released information on three 43-101 Technical Reports totalling a resource of 6.7 Mt LCE. 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 15th 2018, effective June 4th 2018. All reports are available on 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 to produce saleable lithium byproducts, including LCE, the future performance of our business, its operations and its financial performance and condition, 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: 205 - 227 10th St NW, Calgary, AB T2N 1V5, +1 (877) 319-7634, [email protected], e3metalscorp.com