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E3 Lithium Outlines Clearwater Project Pre-Feasibility Study and Confirms Lithium Reserves
CALGARY, Alberta / Jun 26, 2024 / Business Wire / E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3 Lithium” or the “Company,” a leader in Canadian lit
About this update from E3 Lithium Ltd
[{"type":"text","content":"CALGARY, Alberta / Jun 26, 2024 / Business Wire / E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3 Lithium” or the “Company,” a leader in Canadian lithium, is pleased to announce the summary of key results from the Pre-Feasibility Study (“PFS”) for its Clearwater Project, located in south-central Alberta. The PFS outlines the Clearwater Project's economic viability, environmental sustainability and long-term operational potential, and reports Canada's first lithium-in-brine proven mineral reserve. The completion of the PFS incorporates 12 months of engineering and design work and includes the data and learnings from the successful 2023 Direct Lithium Extraction (DLE) Field Pilot Plant, as well as the in-house verification testing. The detailed flow sheet outlines a lithium chloride produced from a DLE system and further purified and concentrated. A two-stage chemical conversion process first produces lithium carbonate and then battery quality lithium hydroxide. Critical to sustainability is implementing practices to minimize environmental impact associated with lithium production. Highlights of the Pre-feasibility Study: Initial production: 32,250 tonnes per annum Lithium Hydroxide Monohydrate (LHM) 50-year operating life: covers only a portion of the total Bashaw District Reserves: 1.29 million tonnes (Mt) of LHM Proven & Probable lithium mineral reserve (1.14 Mt Lithium Carbonate Equivalent (LCE)) from the total Bashaw District of 18.4 Mt of LHM Measured and Indicated mineral resource (16.2 Mt LCE) located in the Leduc Reservoir Strong Project Economics: After-tax NPV $3.72 Billion with a 24.6% IRR at an 8% discount rate (pre-tax NPV8 of $5.18 Billion with a 29.2% IRR) using Benchmark Mineral Intelligence’s (BMI) LHM price forecast Initial Capital Expenditure (CAPEX): $2.47 Billion includes water recycling and contingency Initial Operating Costs (OPEX): $6,200 per tonne LHM provide for a long life and robust project fundamentals Sustainably produced lithium: Process water for the operation will be sourced from recycling and make-up water from waste brine stream, smaller surface footprint relative to conventional lithium production4 with potential plant emissions of 1.9 tonnes CO2e/tonne LHM. “The Clearwater Project PFS outlines, for the first time, the viability of lithium from the brines in Alberta,” said Chris ...