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LithiumBank Files NI 43-101 Resource Estimate Technical Report for the Park Place Lithium Brine Project, West-Central Alberta
Calgary, Alberta--(Newsfile Corp. - August 7, 2024) - LithiumBank Resources Corp. ( TSXV: LBNK ...
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[{"type":"text","content":"LithiumBank Files NI 43-101 Resource Estimate Technical Report for the Park Place Lithium Brine Project, West-Central AlbertaCalgary, Alberta--(Newsfile Corp. - August 7, 2024) - LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) (\"LithiumBank\" or the \"Company\") is pleased to announce the filing of the National Instrument (\"NI\") 43-101 Technical Report for the Park Place Lithium-Brine Project located in West- Central Alberta, Canada (Figure 1) entitled \"LithiumBank Resources Corp. Park Place NI 43-101 Technical Report\" effectively dated June 24, 2024. The Park Place resource estimate highlights was originally announced by the Company on June 24, 2024. The Park Place Technical Report can be found on the Company's website and on SEDAR+. Park Place Resource Estimate Highlights include:Park Place is the largest known NI 43-101 inferred lithium brine resource estimate in North America.Highest known reported lithium-in-brine grades used in a NI 43-101 inferred lithium resource estimate in Alberta.10,076,000 tonnes inferred LCE within the Leduc Fm aquifer at an average of 79.4 mg/L lithium. 11,620,000 tonnes inferred LCE within the Swan Hills Fm aquifer, which underlies the Leduc Formation, at an average of 80.9 mg/L lithium. Multiple high porosity areas occur that have a combined Leduc & Swan Hills Fm thickness of over 350 metres, and as high as 511 m, to be studied for potential selection of future PEA.Subsurface reservoir modelling conducted by SLB and Matrix included data from 420 wells, 104 km2 of 3D seismic data and 262 km of two-dimensional seismic data.The subsurface reservoir model will assist in planning well networks and locations in future economic and engineering studies such as a PEA; andPark Place bulk brine sample collection to occur in H2 2024 to be included in the 10,000 L/day direct lithium extraction (\"DLE\") pilot plant test work located in the Company's DLE facility in Calgary, Alberta.Reporting ParametersLeduc Fm DomainSwan Hills Fm DomainCombined TotalTotal Volume (km3)1501.2660.51,161.70Pore Volume (km3)225.128.453.5Average Li Concentration (mg/L)79.480.980.23Average Effective Porosity (%)54.34.64Average Brine Pore Space (%)959595Total Elemental Li Resource (tonnes)1,893,0002,183,0004,076,000Total LCE (tonnes)10,076,00011,620,00021,697,000 1. Total volume of rock and pore space2. Total vo...