On September 4, 2024, LithiumBank Resources Corp., listed on the TSXV as LBNK and on the OTCQX as LBNKF, announced the successful completion of an initial bulk brine sampling program at Park Place in west-central Alberta, Canada. The program yielded 148 cubic meters (m^3) of lithium-rich brine collected from an active gas producing well within the upper 72 m interval of the Leduc Formation in the vertical well 100/12-03-059-23W5/00.
Analysis of the brine samples showed lithium concentrations ranging from 75.0 – 90.9 mg/L, with an average of 83.8 mg/L, which aligns with previous samples collected and reported on January 17, 2023. LithiumBank’s CEO, Rob Shewchuk, expressed satisfaction with these results, emphasizing that they contribute to the Company’s development roadmap and add value to the Park Place Project.
The collected bulk brine sample will undergo processing at the 10,000 l/day Direct Lithium Extraction (DLE) pilot plant in Calgary. This processing aims to demonstrate the commercial viability and effectiveness of LithiumBank’s licensed DLE technology on a larger scale. The Company plans to process this Park Place bulk brine sample by the end of 2024.
During the field sampling operation, strict Quality Control and Quality Assurance (QA/QC) protocols were followed. Brine samples were taken at various points in the collection stream and overseen by a Qualified Person (QP) under National Instrument (NI) 43-101 regulations. The 148 m^3 of brine collected was processed and stored in Calgary for further analysis.
LithiumBank Resources Corp. is a publicly traded lithium company focused on developing and de-risking a significant portfolio of lithium brine assets in North America. The Company has completed a NI 43-101 Preliminary Economic Assessment at Boardwalk and an initial NI 43-101 Resource Estimate at Park Place, both located in west-central Alberta. Additionally, they are conducting large-scale pilot testing of DLE technology at their Calgary facility.
Disclaimer: This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed or implied in these statements. The Company does not undertake to update any forward-looking information unless required by law. For more information, please visit the official source of this press release here: [link to original source].
