In recent developments, Grounded Lithium Corporation (TSX-V:GRD) recently completed the drilling of the second well in Saskatchewan province specifically targeting lithium mineralization at its Kindersley project. The company has undertaken exploration in a province historically known for potash, oil, and gas drilling, but relatively unexplored in the search for lithium brines.
Following a reverse takeover of VAR Resources, Grounded Lithium now holds 64,418 net hectares at its Kindersley lithium project on the Toronto Venture exchange. The company, established in 2020 to participate in the energy transition, has acquired ground holdings through government land sales and private landowner arrangements.
With a successful C$5.7 million capital raise, Grounded Lithium is well-positioned to execute its exploration plans. President and CEO Gregg Smith emphasized the importance of accessing additional capital opportunities through the completed public listing, marking a significant milestone in the company’s business strategy.
Mr. Smith brings over 35 years of experience in the oil and gas sector, including leadership roles at Petrobank and PetroBakken, with a focus on resource development projects in various regions globally.
Grounded Lithium’s project is located within the Leduc Formation, where the company aims to tap into Saskatchewan’s untapped lithium brine potential. The region’s vast carbonate structures and historic oil and gas development provide promising conditions for lithium-rich brine resources.
Furthermore, the company is part of a growing lithium activity in the region, with other companies such as E3 Lithium and Prairie Lithium also making strides in lithium exploration and resource development. Grounded Lithium’s business plan includes concentration and extraction testing, well drilling, and lithium concentration confirmation tests, leveraging key attributes such as prospect identification criteria, high flow rates, thick reservoirs, and previous indications of lithium concentrations in brine samples.
