E3 Lithium produces lithium carbonate, shares up

VANCOUVER – E3 Lithium Ltd. [ETL-TSXV; EEMMF-OTCQX; OW3-FSE] has successfully produced lithium carbonate, the last major step in a conventional process before conversion to battery-quality lithium hydroxide monohydrate (LHM).

The test work used concentrate generated from brines located in E3 Lithium’s Clearwater project area, Alberta produced during the direct lithium extraction (DLE) testing completed in preparation for the pilot plant.

E3 Lithium has engaged a major lithium refining technology and equipment vendor to develop the downstream lithium production processes in preparation for the coming prefeasibility study. The testing was conducted to treat a sample of concentrate, or eluate, produced by DLE technology. The test program has successfully progressed through the coarse purification and concentration phases, and the eluate has been converted into lithium carbonate. The final steps include further downstream polishing to achieve the desired purity and then conversion of the carbonate into battery-grade LHM.

As the pilot plant produces more concentrate, E3 Lithium will be creating more carbonate and LHM for commercial development purposes.

“Producing high-quality carbonate from our Leduc brines with a major equipment vendor is an incredibly exciting milestone for the company,” said Chris Doornbos, president and CEO. “While downstream lithium refining processes are already commercially operating, demonstrating the success of these processes on E3 Lithium’s brine provides more certainty for our commercial processes.”

The objectives of the test program are to validate the downstream flowsheet, generate data required for engineering design purposes and produce LHM for potential offtake partners. E3 Lithium will provide updates as its test program progresses.

E3 Lithium is pleased to report that commissioning of its DLE field pilot plant is progressing. The company anticipates beginning operations soon and will update the market when commissioning is complete.

E3 Lithium is a development company with a total of 16 million tonnes of lithium carbonate equivalent (LCE) measured and indicated and 900,000 tonnes LCE inferred mineral resources in Alberta.

As outlined in E3’s preliminary economic assessment, the Clearwater lithium project has a net present value (8%) of US$1.1-billion with a 32% internal rate of return pretax and US$820-million with a 27% IRR after-tax. E3 Lithium’s goal is to produce high-purity, battery-grade lithium products to power the growing electrical revolution. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world.

In early trading Wednesday August 23, shares of E3 Lithium gained $0.17 to $3.84.

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