E3 Lithium Receives License for Field Pilot Plant and Provides Progress Update
E3 Lithium Receives License for Field Pilot
Plant and Provides Progress Update
CALGARY, AB
,
April 11, 2023
/CNW/ - E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX:
EEMMF), "E3" or the "Company,"
Alberta's
leading lithium developer and extraction technology
innovator, is pleased to announce it has received approval on its Facility Application from the Alberta
Energy Regulator (AER) for its 2023 field pilot plant. The license granted by the AER allows E3 to
construct and operate the necessary equipment to run the direct lithium extraction pilot, planned to
begin operations in Q3 2023.
The pilot plant will be located at the first well E3 drilled in its 2022 inaugural drill program, located
east of the Town of Olds in E3's Clearwater Project Area. In the
February 2, 2023
news release
, E3
outlined the details and timeline expected for the field pilot.
The field pilot is on schedule, with site construction and pre-operation planned to commence in early
May. As outlined previously, E3 has been developing multiple potential flow sheets and the pilot is
designed to be able to test several lithium extraction systems to define the optimal commercial
design. Additional details and the Key Performance Indicators (KPIs) of the process systems will be
outlined by June of this year, ahead of the pilot operations.
"Since communicating our plans to start operating our field pilot plant in Q3 of this year, we have
made excellent progress," said
Chris Doornbos
, President and CEO of E3 Lithium. "We are
incredibly excited to be field testing ion exchange technology for direct lithium extraction in real-world
operating conditions this year."
E3 will continue to provide updates on its field pilot throughout 2023.
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 resources
1
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-
tax
1
. 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos
, President & CEO
E3 Lithium Ltd.
1: The Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43-101 technical report is effective Sept 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 (measured
& indicated) will be available 45 days from March 21, 2023. All reports are available on the E3 Lithium's website (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com).
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 Lithium
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For further information:
E3 Lithium - Investor and Media Relations: Greg Foofat, Manager,
Investor Relations, [email protected], 587-324-2775
CO: E3 Lithium
CNW 03:05e 11-APR-23