E3 Lithium (TSXV: ETL) (FSE: OU7A) (OTCQX: EEMMF) (the "Company" or "E3 Lithium" or "E3"), Alberta's leading lithium developer and Direct Lithium Extraction (DLE) technology innovator today announced the increase in its inferred mineral resource to 23.4 million tonnes of lithium carbonate equivalent (LCE) contained within the newly-named Bashaw District (the "Resource"). The Bashaw District combines and expands the Clearwater Resource and Exshaw Resource areas into a consolidated resource that contains an estimated total of 59 billion m3 (59 km3) of brine formation water at an average grade of 74.5 milligram/Litre (mg/L) lithium (Figure 1).
Figure 1: The Bashaw District (east trend) in south-central Alberta outlining the approximate sampling locations (green) and previous Clearwater and Exshaw Resource areas (black outlines). The Rocky Area, not part of the Bashaw District, is outlined to the west. (CNW Group/E3 Lithium Ltd.)
"This increase clearly establishes E3 Lithium, and the Leduc Aquifer in this region, as being a globally-significant source of lithium," commented Chris Doornbos, E3's CEO. "With the combination of the Resource, and the Company's ion-exchange direct extraction technology, E3 continues to lead Alberta on the path to becoming a major lithium producing jurisdiction. With E3's significant resource, established social licence to operate, supportive government policy, low-risk and transparent regulatory processes, and stable tax and royalty systems, E3 is well-situated to realize commercial production of battery-grade lithium."
The increase in the Resource is a result of the significant work completed by the E3 Lithium geology and subsurface team to improve and increase E3's understanding of the highly saline Leduc Aquifer within the Bashaw District. The work incorporated the thorough reviews and analyses of available core samples, the addition of hundreds of digital wireline logs, 2D seismic data, additional brine sampling results, and an updated interpretation of the Leduc facies, brine and reservoir properties. This work advanced E3's understanding of the reservoir and improved the Company's confidence in the resource volumes. Based on this analysis, the resource area has now been defined as:
Additionally, E3 has removed the production factor included in previous reports. The production factor cut-off methodology applied in previous resource estimates is considered a "modifying factor" and was removed from the updated resource estimate in accordance with NI 43-101. The modifying factors will be addressed as part of future reserves estimation 2.
In estimating the current Resource, a 2% porosity cut-off was utilized, so that areas of the aquifer at or below 2% porosity were not included in the total volume used in the calculation of the Resource. Effective porosity for the intervals above the cut-off were estimated by applying the average net to gross ratio to measurements of total porosity available from petrophysical logs and core. It was also independently estimated through a petrophysical analysis using shale volume with consistent results. Consistent with E3 Lithium's prior resource estimates, the NI 43-101 Technical Report for the Bashaw District is being prepared and will be filed on SEDAR and the Company's website within 45 days.
The data being collected from E3's ongoing, and previously announced, drill program will be incorporated into a potential upgrade of a portion of the Bashaw District Resource from "Inferred" to "Measured and Indicated", as defined by the NI 43-1012. This upgrade will largely focus in the Clearwater Project Area, which is the target location of E3 Lithium's initial commercial production facility.
The Resource estimate was completed by E3's multi-disciplinary team and overseen by Daron Abbey, P. Geo and Alex Haluszka, P. Geo of Matrix Solutions Inc. acting as the Qualified Person (QP) required by National Instrument 43-101 (NI 43-101) standards2. The estimate was completed using volumetric analytics based on the geological parameters: aquifer geometry, porosity, permeability, pressure, and lithium concentrations. The mineral resource estimate benefited from a considerable amount of data compiled by the oil and gas industry and made public by the Government of Alberta.
Key data sets used to determine aquifer brine parameters in the resource area include drill stem tests (pressure, water quality, and permeability), core plug analyses (porosity and permeability), core logging and facies description (geometry of the aquifer), downhole wireline logs (lithology, total porosity, effective porosity, and permeability), sampling compositional analysis (lithium concentration), and historical production volumes of hydrocarbons and water (context for aquifer pressure and continuity).
The concentration of lithium within the consolidated Bashaw District is reasonably consistent and evenly distributed across the aquifer ranging from 53.5 mg/L to 93 mg/L lithium, with a P50 value of 74.5 mg/L. Wells included in the sampling program are located throughout the Bashaw District, concentrated in the Clearwater and Exshaw Resource Areas (Figure 1). Since 2017, E3 has analyzed a total of 75 brine samples from the Bashaw District. This included samples from 42 individual wells, with 4 or more repeat samples collected different locations. All analytical results fall within acceptable limits as prescribed by the ISO certified 3rd party laboratory and followed strict chain of custody throughout all sampling programs. The results indicate that lithium concentrations remain steady in a relatively narrow P90 (70.4 mg/L) to P10 (79.9 mg/L) distribution.
The methodology used to estimate the resource volumes is as follows:
*OOIP: Original Oil In Place, *OGIP: Original Gas In Place
Based on the total calculated 59km3 of brine volume at a 74.5 mg/L average grade, the mineral resource estimate for the Bashaw District is 4,398,000 tonnes of Li, which equates to 23,400,000 tonnes of lithium carbonate equivalent (LCE)3. This resource estimate is classified as inferred due to the geological evidence being sufficient to imply but not verify geological, grade or quality continuity. Inferred mineral resource estimates can be upgraded to indicated and measured mineral resource with continued exploration. E3 Lithium is currently drilling a number of wells, which will be cored and sampled. Cores will be analyzed for reservoir parameters like effective porosity. Lithium samples will be collected from various aquifer intervals and pressure testing in the aquifer will be conducted. It is believed that this additional data will be sufficient to increase portions of the resource to Indicated and Measured in the Bashaw District. At that time, additional analysis and modifying factors can be applied to indicated and measured mineral resources to categorize mineral reserves.
The Company would like to thank its staff and contractors for their diligent and safe work in achieving this significant corporate milestone, as well as the cooperation of producing oil and gas partners across its permit areas for the brine samples.
Daron Abbey, P. Geo and Alex Haluszka, P. Geo, of Matrix Solutions Inc., are QP's responsible for the preparation of the technical information relating to the Bashaw District resource that is contained in this news release and have reviewed and approved the use and disclosure of such information in this news release. Daron Abbey and Alex Haluszka are a "Qualified Person", as that term is defined in NI 43-101.
E3 Lithium is a development company with total of 24.3 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta. As outlined in E3's Pre-liminary 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-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Lithium's goal is to produce high purity, battery grade lithium products. 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
1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Sept 17, 2021. The mineral resource NI 43-101 Technical Report over the North Rocky Resource Area (NRRA), effective October 27, 2017, identified 0.9Mt LCE (inferred). The Bashaw District resource estimate is outlined with the news release titled "E3 Lithium Outlines 23.4 Mt LCE Inferred Mineral Resource in Consolidated Bashaw District" dated July 11, 2022, the full technical report will be made available within 45 days of the news release date. All reports are available on the Company's website (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com)
2: NI 43-101 Standards of Disclosure for Mineral Projects, Form 43-101F1 Technical Report and Related Consequential Amendments (cim.org); cim-definition-standards_2014.pdf
3: LCE tonnes = Li tonnes x 5.323
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.
For further information: E3 Lithium - Investor and Media Relations: Robin Boschman, Director, External Relations, 403-612-9498, investor@e3lithium.ca
E3 Lithium (TSXV: ETL) (FSE: OU7A) (OTCQX: EEMMF) (the "Company" or "E3 Lithium" or "E3"), Alberta's leading lithium developer and Direct Lithium Extraction (DLE) technology innovator today announced the increase in its inferred mineral resource to 23.4 million tonnes of lithium carbonate equivalent (LCE) contained within the newly-named Bashaw District (the "Resource"). The Bashaw District combines and expands the Clearwater Resource and Exshaw Resource areas into a consolidated resource that contains an estimated total of 59 billion m 3 (59 km 3 ) of brine formation water at an average grade of 74.5 milligramLitre (mgL) lithium (Figure 1).
"This increase clearly establishes E3 Lithium, and the Leduc Aquifer in this region, as being a globally-significant source of lithium," commented Chris Doornbos , E3's CEO. "With the combination of the Resource, and the Company's ion-exchange direct extraction technology, E3 continues to lead Alberta on the path to becoming a major lithium producing jurisdiction. With E3's significant resource, established social licence to operate, supportive government policy, low-risk and transparent regulatory processes, and stable tax and royalty systems, E3 is well-situated to realize commercial production of battery-grade lithium."
The increase in the Resource is a result of the significant work completed by the E3 Lithium geology and subsurface team to improve and increase E3's understanding of the highly saline Leduc Aquifer within the Bashaw District. The work incorporated the thorough reviews and analyses of available core samples, the addition of hundreds of digital wireline logs, 2D seismic data, additional brine sampling results, and an updated interpretation of the Leduc facies, brine and reservoir properties. This work advanced E3's understanding of the reservoir and improved the Company's confidence in the resource volumes. Based on this analysis, the resource area has now been defined as:
Additionally, E3 has removed the production factor included in previous reports. The production factor cut-off methodology applied in previous resource estimates is considered a "modifying factor" and was removed from the updated resource estimate in accordance with NI 43-101. The modifying factors will be addressed as part of future reserves estimation 2 .
In estimating the current Resource, a 2% porosity cut-off was utilized, so that areas of the aquifer at or below 2% porosity were not included in the total volume used in the calculation of the Resource. Effective porosity for the intervals above the cut-off were estimated by applying the average net to gross ratio to measurements of total porosity available from petrophysical logs and core. It was also independently estimated through a petrophysical analysis using shale volume with consistent results. Consistent with E3 Lithium's prior resource estimates, the NI 43-101 Technical Report for the Bashaw District is being prepared and will be filed on SEDAR and the Company's website within 45 days.
The data being collected from E3's ongoing, and previously announced, drill program will be incorporated into a potential upgrade of a portion of the Bashaw District Resource from "Inferred" to "Measured and Indicated", as defined by the NI 43-101 2 . This upgrade will largely focus in the Clearwater Project Area, which is the target location of E3 Lithium's initial commercial production facility.
The Resource estimate was completed by E3's multi-disciplinary team and overseen by Daron Abbey , P. Geo and Alex Haluszka , P. Geo of Matrix Solutions Inc. acting as the Qualified Person (QP) required by National Instrument 43-101 (NI 43-101) standards 2 . The estimate was completed using volumetric analytics based on the geological parameters: aquifer geometry, porosity, permeability, pressure, and lithium concentrations. The mineral resource estimate benefited from a considerable amount of data compiled by the oil and gas industry and made public by the Government of Alberta.
Key data sets used to determine aquifer brine parameters in the resource area include drill stem tests (pressure, water quality, and permeability), core plug analyses (porosity and permeability), core logging and facies description (geometry of the aquifer), downhole wireline logs (lithology, total porosity, effective porosity, and permeability), sampling compositional analysis (lithium concentration), and historical production volumes of hydrocarbons and water (context for aquifer pressure and continuity).
The concentration of lithium within the consolidated Bashaw District is reasonably consistent and evenly distributed across the aquifer ranging from 53.5 mg/L to 93 mg/L lithium, with a P50 value of 74.5 mg/L. Wells included in the sampling program are located throughout the Bashaw District, concentrated in the Clearwater and Exshaw Resource Areas (Figure 1). Since 2017, E3 has analyzed a total of 75 brine samples from the Bashaw District. This included samples from 42 individual wells, with 4 or more repeat samples collected different locations. All analytical results fall within acceptable limits as prescribed by the ISO certified 3 rd party laboratory and followed strict chain of custody throughout all sampling programs. The results indicate that lithium concentrations remain steady in a relatively narrow P90 (70.4 mg/L) to P10 (79.9 mg/L) distribution.
The methodology used to estimate the resource volumes is as follows:
*OOIP: Original Oil In Place, *OGIP: Original Gas In Place
Based on the total calculated 59km 3 of brine volume at a 74.5 mg/L average grade, the mineral resource estimate for the Bashaw District is 4,398,000 tonnes of Li, which equates to 23,400,000 tonnes of lithium carbonate equivalent (LCE) 3 . This resource estimate is classified as inferred due to the geological evidence being sufficient to imply but not verify geological, grade or quality continuity. Inferred mineral resource estimates can be upgraded to indicated and measured mineral resource with continued exploration. E3 Lithium is currently drilling a number of wells, which will be cored and sampled. Cores will be analyzed for reservoir parameters like effective porosity. Lithium samples will be collected from various aquifer intervals and pressure testing in the aquifer will be conducted. It is believed that this additional data will be sufficient to increase portions of the resource to Indicated and Measured in the Bashaw District. At that time, additional analysis and modifying factors can be applied to indicated and measured mineral resources to categorize mineral reserves.
The Company would like to thank its staff and contractors for their diligent and safe work in achieving this significant corporate milestone, as well as the cooperation of producing oil and gas partners across its permit areas for the brine samples.
Daron Abbey , P. Geo and Alex Haluszka , P. Geo, of Matrix Solutions Inc., are QP's responsible for the preparation of the technical information relating to the Bashaw District resource that is contained in this news release and have reviewed and approved the use and disclosure of such information in this news release. Daron Abbey and Alex Haluszka are a "Qualified Person", as that term is defined in NI 43-101.
E3 Lithium is a development company with total of 24.3 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources 1 in Alberta. As outlined in E3's Pre-liminary 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 . Through the successful scale up its DLE technology towards commercialization, E3 Lithium's goal is to produce high purity, battery grade lithium products. 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
1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Sept 17, 2021. The mineral resource NI 43-101 Technical Report over the North Rocky Resource Area (NRRA), effective October 27, 2017, identified 0.9Mt LCE (inferred). The Bashaw District resource estimate is outlined with the news release titled "E3 Lithium Outlines 23.4 Mt LCE Inferred Mineral Resource in Consolidated Bashaw District" dated July 11, 2022, the full technical report will be made available within 45 days of the news release date. All reports are available on the Company's website (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com)
2: NI 43-101 Standards of Disclosure for Mineral Projects, Form 43-101F1 Technical Report and Related Consequential Amendments (cim.org) ; cim-definition-standards_2014.pdf
3: LCE tonnes = Li tonnes x 5.323
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 original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2022/11/c4575.html
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E3 Lithium Ltd. (TSXV: ETL) (FSE: OU7A) (OTCQX: EEMMF) (the "Company"), Alberta's leading lithium developer and Direct Lithium Extraction (DLE) technology innovator, is pleased to announce that it started trading under its new name and ticker symbol "ETL" effective upon market open today.
The Company's common shares trade on the TSX Venture Exchange under the name and under the new trading symbol. The Company's common shares will continue trading on Frankfurt Stock Exchange under the same trading symbol "OU7A" and on the OTCQX under the same trading symbol "EEMMF".
E3 Lithium is a development company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources 1 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-tax 1 . Through the successful scale up its DLE technology towards commercialization, E3 Lithium's goal is to produce high purity, battery grade lithium products. 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
1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Dec 21, 2020. E3 Lithium 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 (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com)
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.
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E3 Lithium Ltd. (TSXV: ETL) (FSE: OU7A) (OTCQX: EEMMF) (the "Company") Alberta's leading lithium developer and Direct Lithium Extraction (DLE) technology innovator, is pleased to announce further to its news release of June 23, 2022 that it has received TSX Venture Exchange (" TSXV ") approval to issue 3,413,979 prepaid warrants (the " IOL Warrants ") to Imperial Oil Limited as well as 128,024 common shares (the " Finder's Shares ") to the finder in respect of the transaction with Imperial Oil Ltd.
On closing today, the Company issued and delivered the IOL Warrants against receipt of the sum of CAD $6.35M and issued and delivered the Finder's Shares as well as paid the finder the balance of the finder's fee in the amount of CAD$79,375 .
"E3 Lithium is pleased to have completed the agreement with Imperial Oil and we look forward to working closely with their team to rapidly advance our Clearwater Lithium Project development," commented Chris Doornbos , E3 Lithium's CEO.
E3 Lithium is a development company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources 1 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-tax 1 . Through the successful scale up its DLE technology towards commercialization, E3 Lithium's goal is to produce high purity, battery grade lithium products. 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
1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Dec 21, 2020 . E3 Lithium 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 (e3lithium.ca/technical-reports) and SEDAR ( www.sedar.com )
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.
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Fastmarkets' William Adams: Lithium Prices Have Yet to Peak, but Expect Surprisesyoutu.be
Lithium prices rallied last year, with strong demand and a bright outlook for the electric vehicle sector providing support as automakers continue to seek ways to secure supply.
But after reaching all-time highs, prices have started to stabilize, with factors like fresh COVID-19 measures in China hitting the market for the battery metal.
At this year’s Fastmarkets Lithium Supply and Raw Materials conference, the Investing News Network (INN) sat down with William Adams of Fastmarkets to get his insight on what’s been happening in the lithium sector.
“What we're seeing is just a pause on the demand side because of the lockdowns in China,” he said. “And I think it's more that consumer demand has been constrained rather than falling back.”
As lockdown measures ease, Adams is expecting lithium prices to move higher.
“I don’t think we’ve seen the peak in prices yet,” he told INN at the event held in Phoenix, Arizona. “We expect to see that towards the end of this year, or maybe the first quarter next year.”
Concerns that the market might go back to an oversupply situation have made a comeback in the lithium space as producers and newcomers announce expansion plans, restarts and new projects.
“When you've got new supply coming on stream, each of those new production lines needs to be qualified,” said the head of base and battery metals research at the conference. “So that means that a lot of potential consumers won't take that material until they see that new production line running a steady state. And once they've got that, then they'll take samples and get that qualified.”
Listen to the interview above for more of Adams' thoughts on lithium, including where he sees prices going and his short-term outlook for the market. You can also click here for INN's full playlist from the event on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Australia joined forces with the US to push forward with the path to net-zero emissions by 2050, with the country being urged to diversify its critical mineral supply chains to reduce its dependence on China.
“We know that tackling the critical minerals supply chain challenges will require the concerted effort of like-minded economies across the region,” Australia’s Resource Minister Madeleine King said at the Sydney Energy Forum. “It will require investment collaboration to diversify critical minerals markets. It will require partnerships that increase investment in resources projects to bring clean energy products to market faster.”
Co-hosted by the Australian government and the International Energy Agency (IEA), the Sydney Energy Forum gathered Indo-Pacific ministers and business leaders for a 2-day meeting to help secure clean energy supply chains in the region and support global energy transformation.
“Our concern is that critical minerals could be subject, or vulnerable, to manipulation as we’ve seen in other areas, or weaponisation,” US Secretary of Energy Jennifer Granholm. “And we want to – I think it’s healthy and from a national security perspective for both of our nations – to diversify our supply chains and make sure that these minerals are available to get to the ultimate goal of net-zero.”
According to the IEA, China accounts for 80 percent of the global supply chain of solar technology and by 2025 that will grow to a 95 percent share.
"We want to make sure that we are not as nations under the thumb of petro-dictators, under the thumb of those who don't share our values, under the thumb of those who would like to control strategic aspects of the supply chain," Granholm said at the Sydney Energy Forum.
At the event, the Australia-US Net Zero Technology Acceleration Partnership was signed, with the aim to accelerate development and deployment of zero emissions technology, aiming to deliver on 2030 targets and reach net zero by 2050.
“This partnership is a huge milestone in ramping up the US and Australia’s shared commitment to ambitious climate action and energy security,” Australia’s Minister for Climate Change and Energy Chris Bowen said. “It prioritises not just development but deployment of the critical technologies that will underpin economic opportunity in the energy transformation of our two countries.”
During the first day of the forum, discussions around raw materials needed for the green energy transition were in focus. As demand continues to increase, there are supply shortages risks for key battery metals such as lithium and nickel.
Reaching net zero globally by 2050 may require around six times more mineral inputs in 2040 than today, with batteries for EVs and storage particularly reliant on these minerals, according to the IEA.
Niche minerals, especially lithium, graphite, cobalt, nickel and rare earths magnets have effectively come into the mainstream, Benchmark Mineral Intelligence Managing Director Simon Moores told the audience in Sydney.
“They're going from industries that are mined in the hundreds of thousands of tonnes to industries that have to mine millions of tonnes,” he said. “The problem with that is there are bottlenecks everywhere along the supply chain from digging out the ground, to getting them into a battery of tier one quality that a western OEMs can use to make EVs.”
Demand for these critical minerals is driven by electric vehicles and the lithium ion batteries that are used to power them.
“We call this the great raw material disconnect,” said Moores, explaining that building up a gigafactory can take anywhere from 10 to 24 months, while a lithium mine can take up to 10 years.
“So there's this great raw material disconnect. The OEMs that are making big electric vehicle announcements are not speaking to the mining companies that are planning these new mines, or lack of new mines, that are coming on stream,” Moores said. “And as a result, you see price volatility and price shocks.”
According to Benchmark Mineral Intelligence, every year for the next 10 years demand for lithium ion batteries and EVs will grow about 30 percent whereas the supply side will grow at about 15 percent a year in the best case scenario.
Australia is currently the world’s top lithium producer, followed by Chile and China. Benchmark Mineral Intelligence forecasting the country will remain a leader this decade, with supply set to double by 2030.
When asked about Australia's potential to value add from moving further along the battery value chain, Moores said batteries will be made where cars are made.
“You can't ship lithium ion batteries there are distances, they are hazardous goods, they're heavy. So, batteries and cars are going to be made together,” Moores said. “Australia could be going as far downstream as making cathode and anode and shipping that material.”
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Lithium-ion batteries are essential to modern technology, powering cell phones, laptops, medical devices and even electric vehicles.
Manufacturers commonly use lithium carbonate or lithium hydroxide in these batteries, not lithium metal. Although lithium is key for lithium-ion batteries, they also include metals like cobalt, graphite and nickel.
But which lithium-ion battery types are used for which applications? There is more than one type of lithium-ion battery, and not all are created equal. We’ve outlined six lithium-ion battery types below, as well as their compositions and common uses. Read on to learn more about this exciting technology.
Also known as lithium cobaltate or lithium-ion cobalt batteries, lithium cobalt oxide batteries are made from lithium carbonate and cobalt. Due to their very high specific energy, these batteries are used for cell phones, laptops and electronic cameras. They have a cobalt oxide cathode and use graphite carbon as their anode material; during discharge, lithium ions move from anode to cathode, with the flow reversing during charging.
This type of battery has some drawbacks, including a relatively short battery life and limited specific power. Additionally, Battery University notes that these batteries are not as safe as other types. Even so, their characteristics make them the popular choice for cell phones and other portable electronic devices.
Lithium manganese oxide batteries are also commonly called lithium manganate or lithium-ion manganese batteries, and are sometimes referred to as li-manganese or manganese spinel.
The technology for this type of battery was discovered in the 1980s, with the first publication on the subject appearing in the Materials Research Bulletin in 1983. The first commercial lithium-ion cells made with lithium manganese oxide as a cathode material were produced in 1996 by Moli Energy.
Lithium manganese oxide batteries are notable for their high temperature stability and are also safer than other lithium-ion battery types. For this reason, they are often used in medical equipment and devices, but they may also be used in power tools, electric bikes and more. It is also possible to use lithium manganese oxide batteries to power laptops and electric powertrain cars.
Lithium iron phosphate batteries, also known as li-phosphate batteries, use phosphate as a cathode. They benefit from low resistance properties, which enhance their safety and thermal stability.
Other benefits include durability and a long lifecycle — fully charged batteries can be stored with little change to the total lifespan of the battery’s charge. Li-phosphate batteries are often the most cost-effective option as well when their long battery life is taken into consideration. However, the lower voltage of the li-phosphate battery means that it has less energy than other types of lithium batteries.
Accordingly, these batteries are often used in electric motorcycles as well as other applications that need a long lifecycle and significant safety. Electric vehicles often use these batteries as well.
Also known as lithium manganese cobalt oxide, or NMC batteries, lithium nickel manganese cobalt oxide batteries are made of several materials common in lithium-ion battery types. They include a cathode made of a combination of nickel, manganese and cobalt. Like other lithium-ion battery varieties, NMC batteries can have either a high specific energy density or a high specific power. They cannot, however, have both properties. This battery type is most common in power tools and in powertrains for vehicles.
The cathode combination ratio is usually 60 percent nickel, 20 percent manganese and 20 percent cobalt. This means that the raw material cost is lower than it is for other lithium-ion battery options, as cobalt can be quite expensive. These batteries may come down in price further in the future, as some battery makers are planning to switch their battery chemistry to a higher percentage of nickel so that they can use less cobalt. This battery type is commonly preferred for electric vehicles due to its very low self-heating rate.
Lithium nickel cobalt aluminum oxide batteries are also called NCA batteries, and are becoming increasingly important in electric powertrains and in grid storage.
NCA batteries are not common in the consumer industry, but are promising for the auto sector. They provide a high-energy option with a good lifespan, but are not as safe as they could be compared to other lithium-ion battery types and are quite costly. NCA batteries must be accompanied by monitoring devices to ensure driver safety.
Given the consistent use of NCA batteries in electric vehicles, it is possible that demand for these batteries will rise as electric vehicles become more common.
Finally, lithium titanate, also known as li-titanate, is a class of battery that allows for ever-increasing applications. The main advantage of the li-titanate battery is its remarkably fast recharge time, thanks to its advanced nanotechnology, states the website Battery Space.
Currently, manufacturers of electric vehicles and bikes use li-titanate batteries, and there is potential for use in electric buses for public transportation. However, these batteries have lower inherent voltage, or lower energy density, than other lithium-ion battery varieties, which can present issues with powering vehicles efficiently. Even so, the density of lithium titanate batteries is still higher than other non-lithium-ion batteries, which is a plus.
Applications for these batteries can include military and aerospace uses, and they may also be used for storing wind and solar energy and creating smart grids. Furthermore, Battery Space suggests these batteries could also be used in system-critical backups for power systems.
Lithium-ion batteries come in a range of types and have a variety of uses. That means some current lithium-ion batteries are better suited to particular applications than others are. The most important thing is to choose the battery best suited to the task at hand.
It’s also worth noting that the lithium-ion battery industry is constantly changing. Companies and scientists around the world are creating new batteries to either work alongside lithium-ion batteries or supplant them. As these new batteries develop, it will be important to watch which come to the fore.
This is an updated version of an article first published by the Investing News Network in 2014.
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Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.
High lithium grades, porosity and brine flow rates recorded
Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to provide an update on the long- term pump testing program for its 100%-owned Hombre Muerto West Lithium Project (HMW Project), located on the Western Basin of the Hombre Muerto salar in Catamarca Province, Argentina. These tests are an integral part of the current Definitive Feasibility Study (DFS) for the HMW Project.
“We are extremely pleased with the outcomes from the 3-day constant rate pump test at the first Pata Pila well, PPB-01-21. High lithium grades, porosity and brine flow rates are a powerful combination for driving operational efficiency and economic performance. These outstanding hydrological outcomes are paramount to the project DFS foundations and further validates the world-class nature of the lithium brine resource we hold at HMW.
The results are a ready demonstration of the substantial progress we are making in advancing the Project. They also represent key de-risking of the planned HMW development. While we are focussed on a substantially lower risk, conventional process route and project development at HMW, we are ensuring that every aspect of our planned operation at HMW is comprehensively evaluated and proven, both technically and commercially.”
Well pump testing program update
The well pump testing program is advancing at the HWM Project in order to evaluate the hydraulic properties of the target brine bearing aquifers. A series of hydraulic tests have been successfully performed on the first pumping well at Pata Pila (PPB-01-21). These include a step test and constant rate test.
Long term (30-day) pumping tests at PPB-01-21 began on 30 June and are set to conclude on 30 July 2022. Brine levels and samples for geochemical analysis will be collected throughout the testing period. This series of pump tests are planned to be conducted across a further three wells, being a second well at Pata Pila and two wells at Rana de Sal. Testing of the first well at Rana de Sal (PBRS-01-21) is expected to commence in the next few days.
All well pump test data is to be incorporated into the upcoming HMW Resource/Reserve model. This will form part of the current DFS for the HMW Project, being undertaken by Hatch Engineering.
Constant rate test outcomes at Pata Pila: High lithium grades and brine flow rates
The constant rate test was performed for 72 hours and observed with three (3) different piezometers. Aquifer response during the pumping test indicates favorable conditions (permeability) for brine production with expected flowrates between 15 – 20 L/s per well at Pata Pila.
Fourteen brine samples were collected throughout the duration of the test and analyzed for lithium (Li) at the Alex Stewart laboratory. Chemical results positively confirm a high-grade brine resource, with an increasing Li grade during pumping, stabilising at approximately 910 mg/L (see Figure 1 for results). The site operations and sampling procedures were supervised by SRK Consultants.
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This article includes content from Galan Lithium Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Critical Resources Limited (ASX:CRR) (“Critical Resources” or the “Company”) is pleased to announce assay results from drill holes MF22-60 to MF22-63 from its 100% owned Mavis Lake Lithium Project in Ontario, Canada. Drill holes contained spodumene laths correlating with higher-grading lithium oxide assays, including 7.63m at 1.35% Li2O within MF22-60. A total of 39 of 42 drill holes have intersected spodumene-bearing pegmatite to date.
The Company is pleased to announce assays from four holes completed in April as part of the Company’s Phase 1 drilling program at its 100% Mavis Lake Lithium Project in Ontario Canada. Assay data has confirmed lithium mineralisation, correlating with initial visual results identified immediately post-drilling (refer to ASX announcements 28 April 2022 and 04 May 2022).
The Company has started drilling a further 5,000m as a Phase 2 drill program which will focus on step out and infill program in support of defining a JORC compliant resource.
Critical Resources Managing Director Alex Biggs said: “We are pleased to announce our second round of assays from Mavis Lake and are excited to see some high-grade intersections. As we start Phase 2 of drilling, we look forward to increasing the strike extent of known mineralisation and testing the identified geophysical anomalies. We are very happy with progress to date and are working towards a JORC compliant Resource for the project”.
MF22-60 (Hole 3), MF22-61(Hole 2), and MF22-63 (Hole 4) Assay Results
Elevated Lithium throughout Pegmatite 6 interval Assays from three out of the four holes contained significant spodumene mineralisation which correlates well with elevated lithium grades. MF22-60 contained the highest grading interval of 7.63m with 1.35% Li2O.
Figure 1: White pegmatite hosts spodumene laths intersected from 11.57 to 19.2m depth in Hole MF22-60 (Hole 01). Close-ups illustrate significant spodumene mineralisation.
Figure 2: White pegmatite hosts spodumene laths intersected from 105.67 to 109.95m depth in Hole MF22-61 (Hole 02). Close-ups illustrate significant spodumene mineralisation.
Figure 3: White pegmatite hosts spodumene laths intersected from 65 to 70.3m depth in Hole MF22-63 (Hole 04). Close-ups illustrate significant spodumene mineralisation.
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This article includes content from Critical Resources (ASX:CRR), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Greenland Minerals Limited (the Company or Greenland) (ASX: GGG) is pleased to announce that it has entered into a binding heads of agreement with Technology Metals Europe SL (TME) and its sole shareholder Welsbach Holdings Pte Ltd (Welsbach), for the right to earn-in a 51% interest in TME (Transaction).
TME is the sole owner of an exploration permit in Spain prospective for lithium (Tenement), known as the Villasrubias project.
Greenland can earn its interest in TME by spending AU$3,000,000 on a jointly agreed works program in relation to the Tenement within 3 years from the date of satisfaction (or waiver, if permitted) of the conditions precedent to the Transaction.
Welsbach is a related party of Greenland by virtue of being an entity controlled by Mr Daniel Mamadou, Managing Director of Greenland, one of three directors of Welsbach and owner of a controlling shareholding interest in Welsbach.
The Transaction remains conditional, including on completion of due diligence by Greenland on TME and its assets, including the Tenement, to the satisfaction of Greenland, and Greenland obtaining shareholder approval pursuant to ASX Listing Rule 10.1.
A notice of meeting, including an independent expert’s report assessing the fairness and reasonableness of the Transaction, will be distributed to shareholders in due course with the Company targeting a meeting date in September 2022.
A summary of the material terms of the HOA is set out in Annexure A.
Villasrubias project information - summary
The Villasrubias project consists of a permit of investigation (11.4 km2) acquired by Technology Metals Europe SL in 2021.
The main target is a set of lithium-tantalum-niobium-tin-bearing aplite-pegmatite dykes. Of these minerals, the first three are critical raw materials for the EU, according to the list updated in 2020.
Preliminary exploration works performed on the Villasrubias project include field reconnaissance, grab sampling, geophysics (VLF and tomography) and trenches (259 m), which has evidenced mineralized dykes along 370 m at least within a complex buried pegmatite field. Taking the values of the aplo-pegmatites with lepidolite, the average grade of the lithium carbonate deposit is 2.79%.
“With its rich tradition in mining and its strong presence in the European automotive market, Spain is ideal for the development of projects for critical technology metals supply chains. We are keen to support local efforts to fund the projects that are centred on the circular and green supply chains of technology materials, including lithium” said Ed Mason, Non-Executive Chairman of Greenland Minerals.
"The Villasrubias project represents a great example of untapped potential within the Iberian tin-lithium belt. Advances in extraction and refining technologies coupled with a secular demand growth in lithium demand makes the Villasrubias project attractive from a risk-return perspective” said Daniel Mamadou-Blanco, CEO of Greenland Minerals.
The Villasrubias project Tenement is a permit of investigation (Permiso de Investigación) Villasrubias number 6.914, which was originally granted in 2019 for a term of 3 years to SIEMCALSA (the Sociedad de Investigación y Explotación Minera de Castilla Y León SA, an entity sponsored by the regional government of Castilla y León). The Tenement covers an area of 11.4 km2 located across parts of the municipalities of Villasrubias, Robleda, Peñaparda and Fuenteguinaldo, all in the province of Salamanca. The Tenement authorises exploration for resources of lithium, tin, tantalum and niobium. The Tenement was acquired by Technology Metals Europe SL in 2021, the transfer was registered in March 2022 and its term was extended by the authority for a further three years in May 2022.
Accessibility, Climate, Local Resources, Infrastructure and Physiography
The Villasrubias project is located in the south-west corner of the province of Salamanca in Spain, close to the Portuguese border. It is approximately 33 km away from Ciudad Rodrigo, 120 kms from the city of Salamanca, and 250 kms on average from the main harbours in Portugal.
This article includes content from Greenland Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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