E3 Lithium Discovers Lithium Concentrations as high as 87 mg/L in the Nisku Aquifer
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E3 Lithium Discovers Lithium Concentrations
as high as 87 mg/L in the Nisku Aquifer
Highlights:
• E3 Lithium sampled the Nisku Aquifer in six locations in its Clearwater Project Area,
resulting in lithium concentrations as high as 87 mg/L
• The Nisku Aquifer is above the Leduc Aquifer and is laterally continuous throughout E3
Lithium’s permit area in south-central Alberta; E3 Lithium owns the mineral rights to both
aquifers
• The Nisku Aquifer has similar geologic properties to the Leduc Aquifer including historic
high flow rates, which may support the production of additional commercial quantities
of lithium
CALGARY, ALBERTA, January 25, 2024 – E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX:
EEMMF), “E3 Lithium” or the “Company”, Alberta’s leading lithium developer and extraction
technology innovator, today announced the discovery of higher lithium concentrations in the
Nisku Aquifer (the Nisku) through a new six well sampling program conducted late in 2023.
E3 Lithium sampled brine in the Nisku from six well locations in its Clearwater Project Area that
outlined lithium concentrations as high as 87 mg/L. These results are from the first Nisku
samples in the Clearwater Project area, and are higher than the historic Nisku samples, which
outlined lithium grades up to 75 mg/L.
Table 1: Lithium Concentrations Sampled from Six Wells in the Nisku
Well number Lithium grade
6-11 81 mg/L
16-35 87 mg/L
6-25 87 mg/L
9-23 65 mg/L∗
13-24 83 mg/L
16-26 84 mg/L
“Finding higher concentrations of lithium in the Nisku is a significant discovery,” said Chris
Doornbos, President and CEO of E3 Lithium. “This opens the door to potentially produce from an
additional aquifer to the Leduc in the future. The Nisku is well known in Alberta as a prolific oil
producer and is similar to the Leduc in that respect. E3 Lithium has not completed a resource
∗ This sample produced lower lithium concentrations with brine chemistry that differed from the other wells and historic
water analysis data from the same well, which may indicate contamination. E3 Lithium is investigating potential causes
further and may resample.
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estimate in the Nisku, and if successful, would add additional resources to our already
significant resource base from the Leduc.”
The previously reported lithium concentrations ranging from 37 mg/L to 75 mg/L were from
different well locations and were collected from oil and gas wells between 2017 and 2020.
The Nisku brine samples were analyzed by a third-party certified laboratory, following
independently verified sample acquisition procedures that maintained a strict chain of custody,
in accordance with The Canadian Institute of Mining, Metallurgy and Petroleum (CIM)
guidelines.
Figure 1: The Nisku and Leduc Aquifers
About the Nisku
The Nisku is located above the Leduc Aquifer
and stretches across E3 Lithium’s entire permit area
where the Company holds mineral rights, which
include the rights to the lithium within the Nisku.
The Nisku and Leduc are Devonian stacked reef
complexes that have similar geological properties,
however, the Nisku is generally not as thick as the
Leduc. Both aquifers have high porosity and
permeability, which allows for high volume
deliverability (i.e. high brine flow rates), that may
support the production of commercial quantities of
lithium.
The Nisku and Leduc Aquifers are confined aquifers,
meaning they are not connected to the surface or any
shallow, fresh, groundwater sources. The fluids in the
aquifers are contained under pressure which naturally
assists with fluid production. The Leduc and Nisku
Aquifers in E3 Lithium’s project area occur between 2-
3 km below the earth's surface, depending on the
location. It is common for historic oil and gas
production to ‘co-mingle,’ which allows for the
simultaneous production of the two reservoirs for
hydrocarbons, and a similar scenario could be
applicable to the production of lithium.
TVD= Total Vertical Depth
Mineral Resource Sample Data
The disclosure in this news release of scientific and technical information has been prepared by
or under the supervision of Joanie Kennedy, P. Geo, Manager, Geoscience of E3 Lithium Ltd.,
and professional member of the Association of Professional Engineers and Geoscientists of
Alberta (APEGA). Ms. Kennedy is a “qualified person” as defined under NI 43-101, has verified
Suite 1520 – 300 5th Ave SW
Calgary, AB T2P 3C4
Tel: +1 (587) 324-2775
Email: [email protected]
Website: e3lithium.ca
the technical data contained within this news release and has approved it for dissemination.
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President & CEO
E3 Lithium Ltd.
E3 Lithium - Investor and Media Relations
Robin Boschman
Director, Investor Relations and Corporate Communications
587-324-2775
About E3 Lithium
E3 Lithium is a development company with a total of 16.0 million tonnes of lithium carbonate
equivalent (LCE) Measured and Indicated and 0.9 million tonnes LCE Inferred mineral
resources1 in Alberta. As outlined in E3’s Preliminary Economic Assessment, the Clearwater
Lithium Project has an NPV8% of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million
with a 27% IRR after-tax1. E3 Lithium’s goal is to produce high purity, battery grade lithium
products to power the growing electrical revolution. With a significant lithium resource and
innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from
one of the best jurisdictions in the world.
1: The Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43 -101 technical
report is amended Sept 17, 2021. Gordon MacMillan, P.Geol, QP, Fluid Domains Inc. and Grahame Binks,
MAusIMM, QP (Metallurgy), formerly of Sedgman Canada Limited (Report Date: June 15, 2018, Effective
Date: June 4, 2018 Amended Date: September 17, 2021). The mineral resource NI 43-101 Technical
Report for the North Rocky Property, effective October 27, 2017, identified 0.9Mt LCE (inferred). The
mineral resource NI 43-101 Technical Report for the Bashaw District Project, effective March 21, 2023,
identified 16.0Mt LCE (measured & indicated). All reports are available on the E3 Lithium’s website
(e3lithium.ca/technical-reports) and SEDAR+ (www.sedarplus.ca).
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.sedarplus.ca. 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.
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Email: [email protected]
Website: e3lithium.ca
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.