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LithiumBank Completes Drilling of the Entire 232 Metre Leduc Formation at Boardwalk Project, Alberta, Canada
Calgary, Alberta--(Newsfile Corp. - August 8, 2024) - LithiumBank Resources Corp. (TSXV: LBNK) (...
About this update from Lithiumbank Resources Corp.
[{"type":"text","content":"LithiumBank Completes Drilling of the Entire 232 Metre Leduc Formation at Boardwalk Project, Alberta, CanadaCalgary, Alberta--(Newsfile Corp. - August 8, 2024) - LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) (\"LithiumBank'' or the \"Company\") is pleased to announce the Company has completed drilling through the entire 232 metre thickness of the Leduc Formation (\"Leduc\") at its 100%-owned Boardwalk Lithium Brine Project located in west-central Alberta, Canada. LithiumBank extended its 100%-owned well, 100/10-06-069-21W5/00 (\"10-6\") to a total depth of 2,869 metres in a sidetrack that starts at the Leduc top. The drilling increased the known thickness of the Leduc from 206 m to 232m in the area. Drilling also intersected 84 metres of the underlying porous limestone Swan Hills Formation, similar to what is encountered at Park Place. The Company is currently logging the hole for lithology, porosity & permeability plus flow testing & sampling discrete depth intervals for complete chemical analysis. The Company expects that this data will upgrade the confidence of the Boardwalk resource and provide additional reservoir information for modelling potential production scenarios. \"Drilling through the entire Leduc Formation in our own well and increasing its known thickness is another milestone achievement for LithiumBank. Our ongoing summer work program continues to add value and de-risks our Boardwalk lithium brine project,\" commented Rob Shewchuk, CEO of LithiumBank. \"Controlling our own licensed well allows LithiumBank to collect brine samples and important subsurface data that can be used to validate and integrate regional data sets to upgrade the resource classification and confidence. More importantly, it will provide insight on the continuity and variability of lithium concentration over the 232 m extent of the Leduc Formation. We will use this well to assess reservoir characteristics anticipated to enable better production planning. The bulk brine samples we can now collect will be tested at our DLE pilot plant facility in Calgary to validate and enhance our exclusive DLE technology.\" On August 5th LithiumBank completed the re-entry and deepening of the Company's own 10-06 well, previously acquired May 16th, 2024, as shown in Figure 1. The well was deepened in a sidetrack starting at the top of the Led...