'We are thrilled to be able to provide further updates on the operations of the field pilot plant,' said
As previously outlined, the series of three tests was designed to trial various operating parameters to select the optimal set for an extended operating period. Preliminary internal analysis and results of the additional test are outlined below: Initial lithium recovery: >94%
Purity of concentrate: >80%
Average lithium grade in concentrate: 916.6 mg/L
The change in operating parameters across this test was to optimize the cycle time (the amount of time the sorbent was exposed to the brine). The tests outlined that we can decrease the amount of time the brine is in contact with the sorbent. This optimization may lead to a reduction in the capital and operating costs of the commercial plant, which will be outlined in the upcoming Pre-Feasibility Study (PFS).
Next Steps
The team has actively analyzed the data received from the pilot operation over the past six weeks and is completing standard due diligence reviews. Once that work is complete,
The Company will use the results of the first three tests to set the conditions for the extended operating period that is expected to begin next week. Upon completion of the longer operating period,
E3 Lithium Completes the Production of Lithium Hydroxide Monohydrate
Separately, from the exercise of stock options that were or are soon to expire, some insiders plan on selling a portion of their shares to pay for the associated tax liabilities. The insiders continue to remain supportive of the Company and have collectively agreed to sell only the minimum required number of shares to cover tax liability from their exercise and related expenses.
Contact:
Tel: 587-324-2775
Email: investor@e3lithium.ca
About
The Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43-101 technical report is amended
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.sedarplus.ca. 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.
(C) 2023 Electronic News Publishing, source