E3 Metals Files Amended Technical Reports
E3 Metals Files Amended Technical Reports
CALGARY, AB
,
Sept. 17, 2021
/CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC:
EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading direct lithium
extraction ("DLE") technology innovator, reports that it has filed an amended technical report titled
"NI 43-101 Technical Report Lithium Resource Estimate for the Exshaw West Property, South-
Central Alberta, Canada" effective
June 15
2018, and dated
September 17, 2021
(the "Amended
Exshaw West Technical Report"), and an amended technical report titled "E3 Metals Corp. NI 43-
101 Technical Report Preliminary Economic Assessment Clearwater Lithium Project Alberta,
Canada" effective
November 16, 2020
, and dated
September 17, 2021
(the "Amended Clearwater
PEA", and together with the Amended Exshaw West Technical Report, the "Amended Technical
Reports").
The Amended Technical Reports have been prepared to correct minor, non-material deficiencies
identified by the Alberta Securities Commission. The Amended Clearwater PEA has been amended
to correct clerical errors and to clarify certain portions of the report. Examples include: clarifications
in Section 12 and in Qualified Person statements, the revision of language in Section 14 to remove
the word "production" in certain circumstances, and the clarification of recommendations in Section
26 to be specific to the next stage of project development towards a pre-feasibility study.
There
were no changes to the report's conclusions, recommendations, calculations or numerical
values. There are no material changes to the Amended Clearwater PEA.
The Amended Exshaw West Technical Report has been amended to clarify certain portions of the
report. Examples include clarifications in Section 12 and in Qualified Person statements.
There were
no changes to the report's conclusions, recommendations, calculations or numerical values.
There are no material changes to the Amended Exshaw West Technical Report. Copies of
both Amended Technical Reports will be filed on SEDAR at
www.sedar.com
.
The Amended Technical Reports have been prepared in accordance with the disclosure and
reporting requirements set forth in the Canadian Securities Administrators' National Instrument 43-
101 ("NI 43-101"), Companion Policy 43-101CP, and Form 43-101F1, as well as with the Canadian
Institute of Mining, Metallurgy and Petroleum's "CIM Definition Standards For Mineral Resources and
Reserves, Definitions and Guidelines" adopted by the CIM Council on
May 10, 2014
.
The Qualified Persons who prepared the Amended Clearwater PEA are
Gordon MacMillan P.Geol
.
of Fluid Domains Inc.,
Damian Bransby-Williams
, P. Eng., of SCOVAN Engineering,
Scott Pattinson
,
P. Eng. of SCOVAN Engineering,
Werner Vorster
, PhD, P.Eng., C. Eng. of NORAM Engineering and
Greg Owen
, P. Eng. of GLJ Ltd. The Qualified Persons who prepared the Amended Exshaw
Technical Report are prepared
Gordon MacMillan
, P.Geol, of Fluid Domains Inc., and
Grahame
Binks
, MAusIMM, formerly of Sedgman Canada Limited and currently of Pinnacle Processing
Pathways.
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.
1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101
technical report is effective
Sept 17, 2021
. E3 Metals has also released three NI 43-101 Technical
Reports providing a total resource of 7.0Mt LCE. The Clearwater Lithium Project PEA resource
estimate, identifying 2.2Mt LCE (inferred) effective
Sept 17, 2021
; the North Rocky Resource Area
(NRRA) Technical Report effective
October 27, 2017
identifying 0.9Mt LCE (inferred); and the
Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE (inferred) dated
Sept 17, 2021
. All
reports are available on the Company's website (
e3metalscorp.com/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 Metals Corp.
View original content:
http://www.newswire.ca/en/releases/archive/September2021/17/c3727.html
%SEDAR: 00011471E
For further information:
Chris Doornbos, Phone: (587) 324-2775, [email protected]
CO: e3 Metals Corp.
CNW 15:39e 17-SEP-21