The Prototype has begun the extraction test program this week using E3 Metals' sorbents using lithium-enriched formation water from the Leduc Aquifer. After a series of commissioning tests, the unit is successfully operating as expected. (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 Lab-Pilot Prototype (the "Prototype") construction has been completed. 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.CALGARY, AB, Oct. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. 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 Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. Forward-looking statements are based on the current opinions and expectations of management. 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. This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. All reports are available on the Company's website ( /technical-reports) and SEDAR ( Forward-Looking and Cautionary Statements The Clearwater Lithium Project PEA resource estimate, identifying 2.2Mt LCE (inferred) effective Decemthe North Rocky Resource Area (NRRA) Technical Report effective Octoidentifying 0.9Mt LCE (inferred) and the Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE (inferred) dated June 4, 2018. E3 Metals has also released three NI 43-101 Technical Reports providing a total resource of 7.0Mt LCE. 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.ġ: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Dec 21, 2020. Through the successful scale up its DLE technology towards commercialization, E3 Metals' goal is to produce high purity, battery grade, lithium products. The fact that we see such high recoveries in this continuous flow system in a 'set-up for testing' environment is incredibly encouraging as we look towards our process design of the pilot."Į3 Metals is a lithium development Company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources 1 in Alberta and an NPV 8% 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-tax 1. "These initial tests were not designed to maximize performance, but rather, understand the performance. "We are very excited about these results" commented CEO, Chris Doornbos. Train 2 of the prototype has begun the initial test of the second form of the sorbent with results also expected in the early new year. This test will be concluded in mid-late December with results expected in the new year. The Prototype is currently running the long-run test program with one form of the sorbent on Train 1. Across all of the tests, the average lithium recovery remained above 90%, generally up to 95% in most cases. Peak recoveries were recorded as high as 97% during these tests. Measured in total recovery of lithium, the performance of the Prototype exceeded expectations. The equipment and automation performed as expected providing the base design for the long-run program with a high level of confidence. The Prototype is E3's largest scale DLE system to date with two separate trains capable of brine flow rates of up to 120L/hr.Īn initial series of eleven tests were conducted ahead of a multi-cycle test to determine the operating parameters for a long-run program. (TSXV: ETMC) (FSE: OU7A) (OTCQX: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading direct lithium extraction ("DLE") technology innovator, is pleased to announce the first set of results from its Lab-Pilot Prototype (the "Prototype") that has been operating since October.
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