E3 Metals Corp. Acquires Additional Strategic Land for the Alberta Lithium Project
E3 Metals Corp. Acquires Additional Strategic Land for
the Alberta Lithium Project
TSXV: ETMC
FSE:
OU7A
OTC:
EEMMF
New permits are located in the highly prospective Meadowbrook-Rimbey Leduc reef trend
A sampling program is planned to confirm historic results
E3 Metals' CEO recently interviewed at the PDAC conference in
Toronto
CALGARY
,
March 26, 2020
/CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (The
"Company" or "E3 Metals") is excited to announce the addition of 5 new strategic Metallic and Industrial Minerals
permits acquired directly from the
Alberta
government, adding 36,434 ha to E3's overall permit area.
In conjunction with the Company's ongoing development of its proprietary Ion Exchange Direct Lithium Extraction
Process (DLE Process), E3 Metals is continuously evaluating additional value creation opportunities to grow its project
base. The five new permits acquired have been under review for several years as they occur along the highly
prospective "Meadowbrook-Rimbey" Leduc reef trend (see Figure 1). This area is an extension of E3's existing Alberta
Lithium Project, located just north of E3's North Rocky Resource Area (NRRA) which hosts a lithium deposit of 0.93 Mt
lithium carbonate equivalent (LCE)
(see news release dated
November 20, 2017
)
. This prospective geological trend
contains hundreds of wells that have been drilled to the
Leduc
reservoir, with many currently active today. Collectively,
these wells are producing a combination of oil, gas and lithium enriched brine. Infrastructure along the trend presents
abundant brine sampling and repurposing opportunities, which could minimize environmental impacts for a commercial
lithium production project.
Historical data available from the Leduc Reservoir in this area indicates that the brine is enriched in lithium. E3 Metals
plans to conduct sampling with several of our collaborative oil and gas partners to confirm the concentrations of lithium
within this new area.
The Company also released 5 non-prospective Metallic and Industrial Minerals permits located at the south end of our
permit area which were originally staked in 2017. Releasing the permits was part of E3's strategy to prioritize areas
with realistic commercialisation potential. E3 now holds a total of 591,144 ha or 1.46 million acres of Metallic and
Industrial Minerals permits in
Alberta
.
Figure 1: E3 Metals Alberta Lithium Project Permit Area Outline (CNW Group/E3 Metals Corp.)
E3 Metals is looking forward to an exciting year ahead. For a comprehensive overview of E3 Metals Corp., the
Company welcomes investors to view the recent
CEO interview
with
Chris Doornbos
. E3 Metals was also recently
mentioned in the Financial Times
.
About E3 Metals Corp.
E3 Metals is a lithium development company with 6.7 million tonnes lithium carbonate equivalent (LCE) inferred mineral
resources
1
in Alberta. E3 Metals is currently advancing its proprietary Ion Exchange Direct Lithium Extraction Process
(DLE Process) in partnership with Livent Corporation under a Joint Development Agreement. Livent is the world's
largest pure-play lithium producer, well-known for being one of the lowest cost producers of lithium carbonate. With
facilities across the globe, Livent holds technical expertise in the extraction and production of various lithium products.
E3 Metals also continues to work with partners at the
University of Alberta
and at GreenCentre Canada.
Through the successful scale up its DLE Process towards commercialization, E3 Metals plans to quickly move towards
the production of 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. The development of this lithium resource through brine production is a well-understood venture in
Alberta
, where
this brine is currently being produced to surface through an extensive existing oil and gas infrastructure and
development. For more information about E3 Metals, visit
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.
1: E3 Metals has released information on three 43-101 Technical Reports totaling 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 15, 2018, effective June 4, 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 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.
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For further information:
205 - 227 10th St NW, Calgary, AB T2N 1V5, +1 (587) 324-2775,
[email protected], e3metalscorp.com
CO: E3 Metals Corp.
CNW 03:05e 26-MAR-20