Upgrade Of M&I With Bashaw District

CALGARY -  E3 Lithium Ltd. announced the upgrade of its mineral resource to Measured and Indicated (M&I). The mineral resource upgrade includes 6.6 million tonnes (Mt) of Lithium Carbonate Equivalent (LCE) Measured and 9.4 Mt of LCE Indicated for a total of 16.0 Mt M&I within its Bashaw District.

”This resource upgrade is the largest of its kind in Canada and is significant on a global scale," said Chris Doornbos, President and CEO. "The amount of data and geological work required to upgrade resources of this magnitude is significant and further increases our understanding of the Leduc Aquifer and as a result, our technical confidence in our commercialization plans."

The upgraded 16.0 Mt of LCE is Canada's largest and one of the largest Direct Lithium Extraction brine projects and M&I mineral resources globally. According to Natural Resources Canada, Canada currently has an estimated 3.2 Mt of M&I lithium resources located in hard rock deposits. To complete this upgrade, E3 used data gathered through its 2022 drill program, ongoing reviews and analyses of core samples and the development of a comprehensive geological model of the Bashaw District. This model allows for a more detailed representation of reservoir properties and leads to a more accurate resource calculation.