E3 Metals Provides Update on DLE Technology Development
E3 Metals Provides Update on DLE
Technology Development
CALGARY, AB
,
Dec. 1, 2020
/CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC:
EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading lithium
extraction technology innovator, today announced an update on the development of its Direct Lithium
Extraction ("DLE") technology.
The E3 Metals' technical experts, who have been working directly with the Livent technical team,
continue to work towards completing the process design work of our wholly owned and proprietary
DLE technology. The team is in the advanced stages of material synthesis and continuing the flow
system design and testing work already underway. A flow system simulates a real-world
environment and is the precursor to a future field-based pilot plant. In addition, the flow testing will
help to develop a greater understanding of the process operating conditions of the DLE technology.
These operating conditions will outline what the process will look like in a pilot plant environment, and
in turn, a commercial facility. This flow test work brings together multiple improvements made to the
process and sorbent over the last year, just a few of which are more particularly described in our
news releases dated
March 11, 2020
and
November 3
, 2020.
The
Calgary
testing facility will be opened in early 2021 and work will continue towards construction
and operation of a field pilot plant to fully demonstrate the capabilities and effectiveness of E3
Metals' DLE technology. E3 Metal's team of technical experts has benefited from the collaboration
with Livent and are ready to proceed with the next phase, the advancement of our flow system test
work. This will directly lead to the design and construction of the field pilot plant that will be used to
test the Company's DLE technology at a pre-commercial scale, anticipated to be operational in
2021. The field pilot plant is estimated to cost approximately
CAD 3.0 million
and will demonstrate
our DLE process at existing brine production in
Alberta
. The current development work is funded
through E3's existing working capital and the proceeds of E3 Metals' ongoing financing will be used
to fund the pilot plant construction as well as to upgrade a portion of the Company's 7.0 million
tonnes of lithium carbonate equivalent (LCE) inferred mineral resources. E3 has also put in an
application to a provincial government grant in
Alberta
to fund our project to a total of
C$2.4M
in net
proceeds.
"This work is an important step in our technology development timeline, one which will continue to
position E3 Metals for success as we near the next stage – the pilot plant," commented
Chris
Doornbos
, President and CEO of E3 Metals Corp. "I am extremely proud of the hard work and focus
demonstrated by the technical team. E3 Metals team of scientists and process engineers are forging
ahead with the final phase of development, looking to complete the pilot plant, which I am excited to
see us accomplish next year."
About E3 Metals
E3 Metals is a lithium development company with 7.0 million tonnes of lithium carbonate equivalent
(LCE) inferred mineral resources in
Alberta
and a pre-tax NPV
8%
on its Clearwater Lithium Project
of
USD 1.1B
with a 32%
1
IRR. Through the successful scale up its DLE process 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.
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: A summary of the Clearwater Lithium Project PEA is outlined in the
November 16, 2020
news
announcement, with a NI 43-101 Technical Report expected to be filed within 45 days from that
date. E3 Metals has also 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.
View original content:
http://www.newswire.ca/en/releases/archive/December2020/01/c1693.html
%SEDAR: 00011471E
For further information:
Chris Doornbos, Phone: (587) 324-2775, [email protected]
CO: E3 Metals Corp.
CNW 06:30e 01-DEC-20