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LithiumBank Announces Updated PEA; Significantly Increases Pre-Tax NPV8% to USD $3.7 Billion and Reduces OPEX to USD $4,588 per LCE/T at Flagship Boardwalk Lithium Brine Project, Alberta, Canada
Calgary, Alberta--(Newsfile Corp. - January 16, 2024) - LithiumBank Resources Corp. ( TSXV: LBN...
About this update from Lithiumbank Resources Corp.
[{"type":"text","content":"LithiumBank Announces Updated PEA; Significantly Increases Pre-Tax NPV8% to USD $3.7 Billion and Reduces OPEX to USD $4,588 per LCE/T at Flagship Boardwalk Lithium Brine Project, Alberta, CanadaCalgary, Alberta--(Newsfile Corp. - January 16, 2024) - LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) (\"LithiumBank\" or the \"Company\") is pleased to announce the highlights from an updated Preliminary Economic Assessment (\"Updated PEA\") by Hatch Inc. (\"Hatch\") for its 100%-owned Boardwalk Lithium Brine Project (\"Boardwalk\") located in west-central Alberta. The significant difference from the initial PEA (\"Original PEA\") released in May 2023 was the incorporation of newly licensed continuous Direct Lithium Extraction (\"cDLE®\") technology from G2L Greenview Resources Inc (\"G2L\") The G2L technology has numerous advantages over the direct lithium extraction (\"DLE\") process applied in the original PEA. This update builds upon a lithium carbonate equivalent (\"LCE\") updated resource estimates at the Boardwalk Project of 395,000 tonnes LCE of indicated and 5.73 million tonnes LCE of inferred resources. The mineral resource update was completed by APEX Geoscience Ltd. (\"APEX\"). The updated NI 43-101 PEA Technical Report will be filed on SEDAR within 45 days of this announcement.Boardwalk Updated PEA Improvements Highlights include[1]Increased lithium recovery of 98% using the G2L's cDLE® technologyIncreased production to 34,005 tonnes per year of battery grade lithium hydroxide monohydrate (\"LHM\")[2] over a 20-year periodA significant reduction of 34% in operational expenditures to USD $4,588 per tonne LHMUSD $3.7 Billion Net Present Value8 (\"NPV8\") and 25.0% IRR on a pre-tax basisUSD $2.3 Billion NPV8 and 20.6% IRR on an after-tax basisReduction in the payback period from 4.1 years to 3.5 years, on a pre-tax basisProduction of high-grade lithium sulphate (Li2SO4) eluate at a concentration of 3,238 mg/L Li (3.24 g/L Li)Lower cost and commercially available reagents used in the cDLE® processMajority of acid is recovered in the downstream processing and reused in the elution stageReduction in freshwater usage using the G2L cDLE®Achievement of commercial production within 3 years is possible under Provincial permitting directivesLocated in the resource friendly jurisdiction of west-central Alber...