CALGARY, AB, Sept. 14, 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 Company's initial flow system test was completed successfully. The sorbent candidate used in this successful test will now advance to the Pilot Prototype testing phase. The Company has started the construction of the lab-based Pilot Prototype and has already prepared enough of this sorbent to complete the test.
The results from the initial flow system, outlined in the June 9, 2021 News Announcement, have confirmed that lithium from the Leduc Aquifer can be extracted while operating under continuous flow conditions, running over extended periods, and within the anticipated operating parameters. The process mimics similar operational conditions to the Pilot at a reduced scale. Further tests will continue on our alternate sorbents to ensure the technology will operate at optimal efficiency.
The Company is advancing its preparations to complete further advanced tests in a Pilot Prototype. The Prototype will be operated in the lab at high flow rates with the ability to operate 24/7. The Prototype allows testing at larger volumes and scale, over multiple test cycles that more closely resembles commercial operations, with fully automated process equipment. The Prototype is currently under construction and anticipated to be in full operation in October 2021.
"We are very encouraged by all the work that is coming out of our lab and are pleased to announce that we have broken ground on moving forward to the next phase of our development plan" commented CEO, Chris Doornbos. "We have in place a top-notch technical team that is continuing to deliver exceptional results that further advance the development of our DLE technology. We look forward to continuing to update the market on our progress and we expect a very exciting fall."
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.
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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