CALGARY, Alberta--(BUSINESS WIRE)--Aug 3, 2023--
E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3 Lithium” or the “Company,” Alberta’s leading lithium developer and extraction technology innovator, announces that a Direct Lithium Extraction (DLE) skid arrived on site on Wednesday, August 2, signalling the completion of construction of the DLE field pilot plant.
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E3 Lithium’s Field Pilot Plant Site as of August 2, 2023 (Photo: Business Wire)
All major pieces of equipment required to begin commissioning are now on site. Next steps include connecting the DLE equipment to the pilot plant’s piping and wiring system. Site commissioning, in which operators inspect and test each section of the pilot plant to ensure proper operations, has begun.
“The arrival of the DLE skid, the cornerstone of the field pilot plant, is an important milestone for E3 in that it enables us to start commissioning and begin operations shortly afterwards,” said Chris Doornbos, President and CEO. “We are incredibly excited to begin operating Alberta’s first DLE field pilot plant in a matter of weeks.”
Commissioning is anticipated to take up to 10 days to complete. E3 Lithium will announce when this process is complete and full operations have begun.
Please visit www.e3lithium.ca/Lithium1 for the latest photos, videos and pilot-related news.
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 amended 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 Project, effective March 21, 2023, identified 16.0Mt LCE (measured & indicated). 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230803111183/en/
CONTACT: E3 Lithium - Investor and Media Relations
Greg Foofat
Manager, Investor Relations
investor@e3lithium.ca
587-324-2775
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES
SOURCE: E3 LITHIUM LTD.
Copyright Business Wire 2023.
PUB: 08/03/2023 03:05 AM/DISC: 08/03/2023 03:05 AM
http://www.businesswire.com/news/home/20230803111183/en
