March 16, 2023 – E3 Lithium Ltd.’s field pilot lithium production plant expected to operating this summer
A Calgary company with huge lithium resources in central Alberta has a big year planned and is encouraged by recent shows of government support for the minerals sector.
E3 Lithium Ltd. got a recent boost from the federal government through a $3.5 million grant from Natural Resources Canada’s Critical Minerals Research Development and Demonstration program.
The money will go towards the design, construction and operation of E3’s field pilot plant, which is expected to begin operations this summer. It follows the 2022 announcements of a $1.8 million grant from Alberta Innovates and a $27 million conditionally repayable investment from the Strategic Innovation Fund as well.
The company also signed a strategic agreement last June with Imperial Oil Ltd. that included a $6.35 million investment in E3.
“(2022) was a very big year and we’re gearing up for another very big year in our development in 2023,” said Robin Boschman, E3 external relations director.
The completion of the pilot project was included in a detailed outline of the company’s plans unveiled in early March. Among the significant upcoming milestones will be the production of battery-grade lithium hydroxide for potential customers.
E3 also intends to upgrade its estimated 24 million tonnes of lithium resources, almost all of it in underground aquifers in the Bashaw and Three Hills areas, from inferred to measured and indicated, a change that signals confidence in its suitability for lithium production. The upgrade also helps the company develop more accurate production plans.
As part of its 2023 plan, the company intends to seek out and evaluate commercially available process and design technology to reduce risk and keep the goal of a commercial facility by 2026 on track.
E3 Lithium president and CEO Chris Doornbos said in a statement that achieving its 2023 milestones will “establish E3 as a leader of sustainable, locally supplied battery-ready lithium products, and will position E3 for success, as it looks to move from development into commercialization following the success of our pilot.”
The Alberta government recently signalled its intention to boost Alberta’s minerals sector.
The province announced earlier this month that the Mineral Resources Development Act is now in effect for brine-hosted minerals, such as the lithium E3 is extracting. The act directs the Alberta Energy Regulator to oversee brine-hosted minerals in a “one-window approach” to provide clarity and certainty for industry and investors while ensuring responsible development of the resources.
The government has also invested $25 million in recent years to improve geoscience mapping to build an inventory of minerals and their concentrations across the province. It is anticipated providing publicly available geoscience information will attract investment, reduce exploration risk and aid in making resource development and land-use decisions.
Besides lithium, Alberta has deposits of vanadium, titanium and other rare earth elements, along with potash, uranium and helium. The province also refines nickel, cobalt and magnesium.
The province’s moves, which are part of its strategy and action plan to capitalize on Alberta’s untapped mineral potential, are welcomed, said Boschman.
“It shows progress and for us it underscores the commitment that the province and its arms-length partners have in providing clarity to develop the mineral resources that we have in Alberta.
“It’s a very exciting time in the province and there’s huge potential here.”
Featured Image @ Depositphotos
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding E3 Lithium Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to E3 Lithium Ltd.’s industry; (b) market opportunity; (c) E3 Lithium Ltd.’s business plans and strategies; (d) services that E3 Lithium Ltd. intends to offer; (e) E3 Lithium Ltd.’s milestone projections and targets; (f) E3 Lithium Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) E3 Lithium Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) E3 Lithium Ltd.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute E3 Lithium Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) E3 Lithium Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) E3 Lithium Ltd.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) E3 Lithium Ltd.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of E3 Lithium Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) E3 Lithium Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact E3 Lithium Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing E3 Lithium Ltd.’s business operations (e) E3 Lithium Ltd. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, E3 Lithium Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does E3 Lithium Ltd. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither E3 Lithium Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of E3 Lithium Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of E3 Lithium Ltd. or such entities and are not necessarily indicative of future performance of E3 Lithium Ltd. or such entities.
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