E3 Increases Confidence in Clearwater Aquifer Continuity Through Seismic Interpretation
E3 Increases Confidence in Clearwater Aquifer
Continuity Through Seismic Interpretation
CALGARY, AB
,
March 8, 2022
/CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A)
(OTCQX: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading
direct lithium extraction ("DLE") technology innovator, is pleased to announce it has completed a
seismic interpretation across the Clearwater Project Area as part of the development of its Aquifer
Management Plan ("AMP").
Over 60km of seismic lines were used in the interpretation, which have been licenced from data
already acquired from oil and gas development. The ability to license seismic data, rather than
acquire new data, is a very cost-effective solution for the Company; and one of the many benefits of
operating in
Alberta
.
This seismic interpretation increases confidence and understanding of the Leduc Aquifer as it allows
for an understanding of the continuity between drill holes. It has outlined that the Leduc Aquifer is
geologically continuous both laterally and vertically. The data demonstrates continuity of the porosity
across the aquifer, where high porosity between wells is favorable for optimal water production.
The seismic data has improved the accuracy of the calculated aquifer volume. It supports the
company's goals to demonstrate aquifer volume and porosity of the geological model and optimize
the commercial well network plan, both of which will assist with upgrading to a Measured and
Indicated lithium resource.
Figure: A seismic cross section of the Leduc Aquifer with two previously drilled wells from within the
Clearwater Area. The green and yellow represent interpreted higher porosity values in the aquifer,
blues and purples are areas of lower porosity. (CNW Group/e3 Metals Corp.)
As part of the next phase, the Company plans to licence an additional 120km of seismic data to
further delineate the aquifer properties across the Clearwater Lithium Project area.
"The interpretation of the seismic data has demonstrated that we can gain an understanding of the
aquifer properties between the drilling that has been completed," commented E3 Metals CEO,
Chris
Doornbos
, "Having the data already acquired means we can licence it at a low cost, relative to
acquiring the data ourselves, and has proven to be a cost-effective way to increase confidence
across large distances in the Leduc Aquifer. This increase in geological understanding is an
important step towards our M&I upgrade."
About E3 Metals Corp.
E3 Metals is a lithium development Company with 7.0 million tonnes of lithium carbonate equivalent
(LCE) inferred mineral resources
1
in
Alberta
and an NPV
8%
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-tax
1
. 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.
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.
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.
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%SEDAR: 00011471E
For further information:
Chris Doornbos, Phone: (587) 324-2775, [email protected]
CO: e3 Metals Corp.
CNW 03:05e 08-MAR-22