CALGARY, AB, April 20, 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, is pleased to announce that the Calgary Testing Facility ("the Facility") is fully operational and staffed with an expanded team. This Facility positions the Company to achieve its goals as it works towards the construction and operation of a field pilot plant. Through this work, the team plans to fully demonstrate the capabilities and effectiveness of E3 Metals' proprietary Direct Lithium Extraction ("DLE") technology.
Outlined in the December 1, 2020 News Release, the Company set out to relocate all lab development from Ontario and North Carolina to be closer to the head office in Calgary, AB. E3 Metals' Facility operates under a threefold mandate of objectives; to finalize the sorbent synthesis and process development, build and operate a pilot prototype in the facility, and design and guide the fabrication of the field-based Pilot to be operated on our project site in South-Central Alberta.
The Calgary Facility officially opened in February and has made significant progress to accelerate its advancement in the DLE technology. The manufacturing capabilities for E3's IX sorbent material are fully operational, as is the continuous flow system that enables advanced process test work. E3 Metals is continuously generating the Li-IX solution, our proprietary high grade and high purity lithium concentrate, from Alberta brines demonstrating the full capabilities of the DLE technical team. This team is currently running a series of detailed tests with the new flow system and the Company anticipates results to be available in the coming months. These results will serve as the foundation for the successful implementation of our DLE technology within our field-pilot.
"E3 Metals' vision is to become a global player in the production of lithium products for the growing EV battery market," commented E3 Metals' CEO Chris Doornbos. "The DLE technology forms the foundation of the Company's plans to commercialize lithium production in Alberta. I am very proud of the team, which has been working diligently and safely getting the facility operational. I look forward to sharing our continued progress with the market as we advance towards a field pilot."
About E3 Metals Corp.
E3 Metals is a lithium development Company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% 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-tax1. 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. E3 Metals also continues to work with partners at the University of Alberta and at GreenCentre Canada.
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 Dec 21, 2020. 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 December 21, 2020; 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 June 4, 2018. 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.
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