LithiumBank Files Technical Report for the Boardwalk Lithium Brine Project, Alberta

Rhea-AI Summary

LithiumBank Resources Corp. (TSX-V: LBNK, OTCQX: LBNKF) has filed a Technical Report for its Boardwalk Lithium Brine Project, dated December 20, 2022. This report includes NI 43-101 Mineral Resource Estimates of 393,000 tonnes of Indicated Lithium Carbonate Equivalent (LCE) at a grade of 71.6 mg/L and 5,808,000 tonnes of Inferred LCE at 68.0 mg/L lithium. The report is accessible on www.sedar.com. LithiumBank focuses on lithium brine projects in Western Canada, holding over 4 million acres of mineral titles for potential large-scale lithium production.

Positive

• Indicated Lithium Carbonate Equivalent (LCE) estimated at 393,000 tonnes.
• Inferred LCE estimated at 5,808,000 tonnes.
• High lithium grades of 71.6 mg/L (Indicated) and 68.0 mg/L (Inferred).
• Strategic holdings of over 4 million acres for lithium exploration.

Negative

• None.

CALGARY, Alberta, Dec. 21, 2022 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) announces the filing of the Boardwalk Lithium Brine Project Technical report entitled “Updated Indicated and Inferred Resource Estimates for LithiumBank Resources Corp.’s Boardwalk Lithium-Brine Project in West- Central Alberta, Canada” effectively dated December 20, 2022, originally announced November 7, 2022.

The Technical Report includes NI 43-101 Mineral Resource Estimates of 393,000 tonnes of Indicated Lithium Carbonate Equivalent (LCE) at a grade of 71.6 mg/L and 5,808,000 tonnes of Inferred LCE at 68.0 mg/L lithium. The report is available on www.sedar.com.

The Technical Report and Mineral Resource Estimates were prepared by the following Qualified Persons; Roy Eccles, P. Geol. of APEX Geoscience Ltd., Jim Touw, P. Geol. of HCL, and Egon Linton, P. Eng. of Hatch Ltd.

About LithiumBank Resources Corp.

LithiumBank Resources Corp. is an exploration and development company focused on lithium-enriched brine projects in Western Canada where low-carbon-impact, rapid DLE technology can be deployed. LithiumBank currently holds over 4 million acres of mineral titles, 3.68M acres in Alberta and 326K acres in Saskatchewan. LithiumBank’s mineral titles are strategically positioned over known oil and gas reservoirs that provide a unique combination of scale, grade, exceptional flow rates and access to deep subsurface brines that are necessary for large-scale direct brine lithium production. LithiumBank is advancing and de-risking several projects in parallel of the Boardwalk Lithium Brine Project.

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.

FAQ

What are the lithium resource estimates for LithiumBank Resources Corp's Boardwalk Project?

The Boardwalk Lithium Brine Project has indicated 393,000 tonnes of Lithium Carbonate Equivalent (LCE) and inferred 5,808,000 tonnes of LCE.

When was the Technical Report for the Boardwalk Lithium Project filed?

The Technical Report was filed on December 20, 2022.

Where can I find the Technical Report for LithiumBank Resources Corp?

The Technical Report is available on www.sedar.com.

What is the lithium grade in the resource estimates for the Boardwalk Lithium Project?

The indicated lithium grade is 71.6 mg/L, while the inferred grade is 68.0 mg/L.

How much land does LithiumBank Resources Corp. hold for lithium projects?

LithiumBank holds over 4 million acres of mineral titles, primarily in Alberta and Saskatchewan.