E3 Lithium (TSXV:ETL) has successfully completed all milestones of its pilot project funded by Natural Resource Canada. The company received a total of C$3.5 million from the Critical Minerals Research, Development, and Demonstration Program, with the final payment amounting to $354,000.
This funding has been instrumental in supporting E3 Lithium’s field pilot operations and the advancement of utilizing direct lithium extraction technology to extract lithium from brines in Alberta. As a result, E3 Lithium’s shares have seen a 5.13% increase, reaching C$1.23 as of 12:33 pm ET.
The company demonstrated the effectiveness of its direct lithium extraction technology at scale under the pilot project, achieving high lithium recovery from brines with high flow rates. E3 Lithium plans to proceed with the construction of a demonstration facility to produce battery-grade lithium carbonate, laying the foundation for a commercial lithium facility.
E3 Lithium, a development company, holds significant mineral resources in Alberta and Saskatchewan. The successful completion of the pilot project marks a significant milestone for the company as it progresses towards commercializing lithium production. CEO Chris Doornbos expressed gratitude for NRCan’s support and emphasized the importance of de-risking the technology aspect of the project through this investment.
Investors can follow discussions about E3 Lithium (TSXV:ETL) on the E3 Lithium Bullboard investor discussion forum. Please note that the information provided in this article is for informational purposes only and should not be considered investment advice. For full disclaimer information, please refer to the provided link.
