E3 Metals Corp. Acquires Two Strategic MIM Permits in Alberta
E3 Metals Corp. Acquires Two Strategic MIM
Permits in Alberta
HIGHLIGHTS
Two additional MIM permits brings the total permit area to over 590,000 ha
Historic sampling in the new area indicates lithium (Li) concentrations up to 120mg/L
2
CALGARY
,
Oct. 11, 2018
/CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC:
EEMMF) (the "Company" or "E3 Metals") is pleased to announce it has acquired two new strategic
Metallic and Industrial Minerals (MIM) permits in South-Central Alberta staked directly from the
Alberta Government. Each of the new permits cover a strategic land position of the Leduc Reservoir
and are directly adjacent to E3 Metals' existing Lithium Mineral Resources. The new permits are
valid for a period of 14 years.
The new Clearwater Permit sits directly east of the existing Central Clearwater Resource Area
(Figure 1). Within this permit, historic sampling indicates lithium concentrations as high as
120mg/L
2
. Recent sampling by E3 Metals confirmed lithium concentration in the new Clearwater
Permit area ranging from 73 mg/L to 85 mg/L
1
.
The new Exshaw Permit is located directly east of the Exshaw West Resource Area ("Exshaw
East"). Exshaw East connects E3 Metal's permits to the Exshaw West Project Area.
The addition of these two MIM permits bring E3 Metal's total permit area in the Leduc Reservoir to
over 590,000 ha.
The Clearwater East permit is a strategic acquisition for E3 Metals as it expands the highly
prospective and original
Clearwater
area and provides an opportunity to revaluate the existing
Clearwater Mineral Resource. The Company intends to complete a comprehensive sampling
program with the aim of extending the Clearwater Resource into the new Clearwater East permit
area. A full evaluation of this area is required to confirm the extent and details of the potential
resource extension. As well, there is significant oil and gas infrastructure in the Clearwater East area
including a centralized oil/water separation facility that may be suitable for conversion to a lithium
extraction facility.
The Clearwater East permit area is located directly east of the Clearwater Inferred Mineral resource
totaling 1.9Mt
1
. The new
Exshaw
permit sits directly east of the Exshaw West Inferred Mineral
resource of 3.89 Mt LCE
1
.
Figure 1: The newly acquired permit in Clearwater East (Permit 1) in relation to the existing permit
area and the Central Clearwater Resource Area. (CNW Group/E3 Metals Corp.)
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 goal is to develop a commercially viable
lithium extraction and production process and to demonstrate the economic viable of 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.
1:
E3 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 15
th
2018, effective June 4
th
2018. All reports are available on SEDAR (
www.sedar.com
)
2:
E3 Metals NI 43-101 Report: Geological introduction to E3 Metals Corp. Clearwater and Exshaw Lithium-Brine Properties in South-Central Alberta. This report is 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, 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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http://www.newswire.ca/en/releases/archive/October2018/11/c2660.html
%SEDAR: 00011471E
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 11-OCT-18