LithiumBank Files NI 43-101 Resource Estimate Technical Report for the Park Place Lithium Brine Project, West-Central Alberta
LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) has filed an NI 43-101 Technical Report for its Park Place Lithium-Brine Project in West-Central Alberta, Canada. The report highlights:
1. Park Place is North America's largest known NI 43-101 inferred lithium brine resource estimate.
2. The project boasts the highest reported lithium-in-brine grades used in an NI 43-101 inferred lithium resource estimate in Alberta.
3. The Leduc Formation aquifer contains 10,076,000 tonnes of inferred Lithium Carbonate Equivalent (LCE) at an average of 79.4 mg/L lithium.
4. The underlying Swan Hills Formation aquifer holds 11,620,000 tonnes of inferred LCE at an average of 80.9 mg/L lithium.
5. The project area includes multiple high-porosity zones with combined Leduc & Swan Hills Formation thickness over 350 metres, reaching up to 511 m in some areas.
LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) ha presentato un Rapporto Tecnico NI 43-101 per il suo Progetto di Litio da Sali di Park Place situato nel centro-ovest dell'Alberta, Canada. Il rapporto evidenzia:
1. Park Place è la più grande riserva di litio da sali conosciuta in Nord America secondo la stima NI 43-101.
2. Il progetto vanta i più alti gradi di litio in salamoia riportati in una stima di risorse di litio secondo NI 43-101 in Alberta.
3. L'acquifero della Formazione Leduc contiene 10.076.000 tonnellate di Carbonato di Litio Equivalente (LCE) con una media di 79,4 mg/L di litio.
4. L'acquifero sottostante della Formazione Swan Hills detiene 11.620.000 tonnellate di LCE stimato con una media di 80,9 mg/L di litio.
5. L'area del progetto include molteplici zone ad alta porosità con uno spessore combinato delle Formazioni Leduc e Swan Hills superiore a 350 metri, arrivando fino a 511 m in alcune zone.
LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) ha presentado un Informe Técnico NI 43-101 para su Proyecto de Litio en Salmuera de Park Place en el centro-oeste de Alberta, Canadá. El informe destaca:
1. Park Place es la mayor estimación de recurso de litio en salmuera inferido conocida en América del Norte según NI 43-101.
2. El proyecto cuenta con los más altos niveles de litio en salmuera reportados en una estimación de recursos de litio inferido según NI 43-101 en Alberta.
3. El acuífero de la Formación Leduc contiene 10.076.000 toneladas de Carbonato de Litio Equivalente (LCE) con un promedio de 79,4 mg/L de litio.
4. El acuífero subyacente de la Formación Swan Hills sostiene 11.620.000 toneladas de LCE inferido con un promedio de 80,9 mg/L de litio.
5. El área del proyecto incluye múltiples zonas de alta porosidad con un grosor combinado de las Formaciones Leduc y Swan Hills superior a 350 metros, alcanzando hasta 511 m en algunas áreas.
LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF)는 캐나다 앨버타 중서부에 위치한 Park Place 리튬 염수 프로젝트에 대한 NI 43-101 기술 보고서를 제출했습니다. 보고서의 주요 내용은 다음과 같습니다:
1. Park Place는 북미에서 알려진 NI 43-101 기준에 따른 가장 큰 추정 리튬 염수 자원입니다.
2. 이 프로젝트는 앨버타의 NI 43-101 기준에 따른 추정 리튬 자원에서 가장 높은 보고된 리튬 염수 등급을 자랑합니다.
3. Leduc 형성의 대수층은 평균 79.4 mg/L 리튬 농도로 10,076,000톤의 추정 리튬 탄산염 equivalent (LCE)을 포함합니다.
4. 그 아래에 있는 Swan Hills 형성의 대수층은 평균 80.9 mg/L 리튬 농도로 11,620,000톤의 추정 LCE를 보유하고 있습니다.
5. 프로젝트 지역에는 Leduc 및 Swan Hills 형성의 두께가 350미터 이상인 여러 고다공성 구역이 포함되어 있으며, 일부 지역에서는 511m에 이를 수 있습니다.
LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) a déposé un Rapport Technique NI 43-101 pour son Projet de Lithium en Saumure de Park Place dans le centre-ouest de l'Alberta, Canada. Le rapport met en évidence :
1. Park Place est la plus grande estimation de ressource en saumure de lithium connue en Amérique du Nord selon la norme NI 43-101.
2. Le projet affiche les teneurs en lithium en saumure les plus élevées rapportées dans une estimation d'une ressource de lithium inféré selon la norme NI 43-101 en Alberta.
3. L'aquifère de la formation Leduc contient 10.076.000 tonnes d'Équivalent Carbonate de Lithium (LCE) avec une moyenne de 79,4 mg/L de lithium.
4. L'aquifère sous-jacent de la formation Swan Hills détient 11.620.000 tonnes de LCE inférés avec une moyenne de 80,9 mg/L de lithium.
5. La zone du projet comprend plusieurs zones à haute porosité avec une épaisseur combinée des formations Leduc et Swan Hills dépassant 350 mètres, atteignant jusqu'à 511 m dans certaines zones.
LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) hat einen NI 43-101 Technischen Bericht für sein Park Place Lithium-Sole-Projekt im mittleren Westen von Alberta, Kanada, eingereicht. Der Bericht hebt hervor:
1. Park Place ist die größte bekannte geschätzte Lithium-Sole-Ressourcenschätzung nach NI 43-101 in Nordamerika.
2. Das Projekt bietet die höchsten gemeldeten Lithium-in-Sole-Gehalte, die in einer NI 43-101 geschätzten Lithiumressource in Alberta verwendet wurden.
3. Das Aquifer der Leduc-Formation enthält 10.076.000 Tonnen geschätztes Lithiumcarbonatäquivalent (LCE) mit einem Durchschnitt von 79,4 mg/L Lithium.
4. Das darunterliegende Aquifer der Swan-Hills-Formation hält 11.620.000 Tonnen geschätztes LCE mit einem Durchschnitt von 80,9 mg/L Lithium.
5. Das Projektgebiet umfasst mehrere hochporöse Zonen mit einer kombinierten Dicke der Leduc- und Swan-Hills-Formationen von über 350 Metern, die in einigen Bereichen bis zu 511 m erreichen.
- Park Place is the largest known NI 43-101 inferred lithium brine resource estimate in North America
- Highest reported lithium-in-brine grades used in an NI 43-101 inferred lithium resource estimate in Alberta
- Total inferred LCE of 21,697,000 tonnes across Leduc and Swan Hills Formations
- High average lithium concentrations: 79.4 mg/L in Leduc Formation and 80.9 mg/L in Swan Hills Formation
- Multiple high porosity areas with combined formation thickness over 350 metres, up to 511 m
- The resource estimate is classified as inferred, indicating a lower level of confidence compared to measured or indicated resources
- Economic viability of the resource has not been demonstrated yet
Calgary, Alberta--(Newsfile Corp. - August 7, 2024) - LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) ("LithiumBank" or the "Company") is pleased to announce the filing of the National Instrument ("NI") 43-101 Technical Report for the Park Place Lithium-Brine Project located in West- Central Alberta, Canada (Figure 1) entitled "LithiumBank Resources Corp. Park Place NI 43-101 Technical Report" effectively dated June 24, 2024. The Park Place resource estimate highlights was originally announced by the Company on June 24, 2024. The Park Place Technical Report can be found on the Company's website and on SEDAR+.
Park Place Resource Estimate Highlights include:
Park Place is the largest known NI 43-101 inferred lithium brine resource estimate in North America.
Highest known reported lithium-in-brine grades used in a NI 43-101 inferred lithium resource estimate in Alberta.
10,076,000 tonnes inferred LCE within the Leduc Fm aquifer at an average of 79.4 mg/L lithium.
11,620,000 tonnes inferred LCE within the Swan Hills Fm aquifer, which underlies the Leduc Formation, at an average of 80.9 mg/L lithium.
Multiple high porosity areas occur that have a combined Leduc & Swan Hills Fm thickness of over 350 metres, and as high as 511 m, to be studied for potential selection of future PEA.
Subsurface reservoir modelling conducted by SLB and Matrix included data from 420 wells, 104 km2 of 3D seismic data and 262 km of two-dimensional seismic data.
The subsurface reservoir model will assist in planning well networks and locations in future economic and engineering studies such as a PEA; and
Park Place bulk brine sample collection to occur in H2 2024 to be included in the 10,000 L/day direct lithium extraction ("DLE") pilot plant test work located in the Company's DLE facility in Calgary, Alberta.
| Reporting Parameters | Leduc Fm Domain | Swan Hills Fm Domain | Combined Total |
| Total Volume (km3)1 | 501.2 | 660.5 | 1,161.70 |
| Pore Volume (km3)2 | 25.1 | 28.4 | 53.5 |
| Average Li Concentration (mg/L) | 79.4 | 80.9 | 80.23 |
| Average Effective Porosity (%) | 5 | 4.3 | 4.64 |
| Average Brine Pore Space (%) | 95 | 95 | 95 |
| Total Elemental Li Resource (tonnes) | 1,893,000 | 2,183,000 | 4,076,000 |
| Total LCE (tonnes) | 10,076,000 | 11,620,000 | 21,697,000 |
1. Total volume of rock and pore space
2. Total volume of effective porosity
3. Calculated using a weighted average (by pore volume) from the average grade of the Leduc and Swan Hills formations
4. Calculated using a weighted average porosity by total formation volume for both Leduc and Swan Hills formations
Note 1: Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the mineral resource will ever be upgraded to a higher category. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
Note 2: The weights are reported in metric tonnes (1,000 kg or 2,204.6 lbs).
Note 3: Tonnage numbers are rounded to the nearest 1,000 unit.
Note 4: In a 'confined' aquifer (as reported herein), effective porosity is an appropriate parameter to use for the resource estimate.
Note 5: The resource estimation was completed and reported using a cut-off of 50 mg/L Li.
Note 6: To describe the resource in terms of industry standard, a conversion factor of 5.323 is used to convert elemental Li to Li2CO3, or Lithium Carbonate Equivalent (LCE).
The consolidated Park Place project consists of 1,404,558 acres of contiguous Brine Hosted Mineral Licenses ("BHML"). The project is situated between Edson, Fox Creek, and Hinton, approximately 180 km west of Edmonton, and is approximately 50 km to the south of the Company's Boardwalk lithium brine project ("Boardwalk"). This area has seen over 70 years of hydrocarbon extraction resulting in a well-established and well-trained labour force, networks of all-weather gravel roads, drill sites that can be easily accessed from Provincial highways, and electrical transmission lines that run through and adjacent to the project (see Figure 1).
The mineral resource estimate work was prepared within a portion of the Park Place Property (
Figure 1: Map of the Park Place project showing Area of Interest and lithium brine samples used in the Park Place NI 43-101 resource estimate along with surface infrastructure.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10140/219209_3991e50f54510a35_001full.jpg
The scientific and technical information relating to the Park Place mineral resources presented in this news release has been reviewed and approved by Mr. Alex Haluszka P. Geol. of Matrix Solutions Inc. Mr. Alex Haluszka is independent of LithiumBank and the Park Place property, and a Qualified Person as defined by NI 43-101.
The scientific and technical information relating to the Park Place mineral resources, related to the potential of lithium extraction, presented in this news release has been reviewed and approved by Mr. Maurice Shevalier, P.Chem, of Matrix Solutions Inc. Mr. Maurice Shevalier, P.Chem, is independent of LithiumBank and the Park Place property, and a Qualified Person as defined by NI 43-101.
The scientific and technical information relating to the brine sampling and lithium grade validation for the Park Place mineral resources presented in this news release has been reviewed and approved by Mr. Roy Eccles P. Geol. of APEX Geoscience Ltd. Mr. Eccles is independent of LithiumBank and the Park Place Property, and a Qualified Person as defined by NI 43-101.
About LithiumBank Resources Corp.
LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF), is a publicly traded lithium company that is focused on developing and de-risking the largest portfolio of lithium brine assets in North America. The Company has completed a NI 43-101 Preliminary Economic Assessment ("PEA") at Boardwalk (Jan. 16, 2024), an initial NI 43-101 Resource Estimate at Park Place (June 24, 2024) which are both located in west central Alberta. The Company is currently conducting large scale pilot testing of a licensed DLE technology at the Company's facility in Calgary (July 10, 2024). The DLE technology process being piloted is currently being used at a commercial scale for use in other metals. The Company owns
Contact:
Rob Shewchuk Chairman & CEO
rob@lithiumbank.ca
(778) 987-9767
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, the Company's expectations regarding the anticipated Park Place bulk brine sample collection and timing thereof and the Company's expectation that its sampling and analysis method has produced conservative results that avoid over-estimation of the mineral resources at Park Place are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates," or variations of such words and phrases or statements that certain actions, events, or results "may," "could," "should" or "would" or occur.
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will be able to complete Park Place bulk brine sample collection and on the timelines anticipated and the Company's sampling and analysis method produced conservative results that avoid over-estimation of the mineral resources at Park Place.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, the risk that the Company will be unable to complete Park Place bulk brine sample collection or will be unable to do so on the anticipated timelines and the risk that the Company's sampling and analysis method did not produce conservative results and over-estimated the mineral resources at Park Place.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219209
FAQ
What is the total inferred Lithium Carbonate Equivalent (LCE) resource at LithiumBank's Park Place project?
What are the average lithium concentrations in the Park Place project's aquifers?
When does LithiumBank (LBNKF) plan to conduct bulk brine sample collection for the Park Place project?
What is the size of the Park Place project area covered by the resource estimate?
