LithiumBank Resources Corp Stock Price, News & Analysis

LithiumBank Resources (TSXV: LBNK) (OTCQX: LBNKF), a lithium development company focused on Western Canada's brine projects, has successfully concluded its Annual and Special Meeting of Shareholders with all resolutions approved.

Key highlights from the meeting include:

• Shareholder participation: 9,827,931 common shares voted (19.70% of outstanding shares)
• Davidson & Company LLP reappointed as auditors
• Board of directors set at five members, with Robert Shewchuk, Steven Piepgrass, Christopher Murray, Ekaterina Zotova, and Paul Matysek elected
• Approval of Re-Pricing of Previously Granted Stock Options

CEO Rob Shewchuk expressed gratitude to shareholders for their participation and continued support. Detailed information about all resolutions is available on the company's website.

LithiumBank Resources (LBNKF) has announced successful Direct Lithium Extraction (DLE) pilot testing results from its Boardwalk and Park Place projects in Alberta. The testing, using SLB's integrated lithium production solution, achieved up to 95% lithium recovery and over 99% impurity rejection.

The pilot campaigns processed approximately 70,000 litres of brine, with both projects demonstrating exceptional performance: Boardwalk achieved 94.5% lithium recovery and Park Place reached 95%. The projects combined host 5,195,000 tonnes LCE measured and indicated at 81.6 mg/L lithium grade (Boardwalk) and 24,474,000 tonnes LCE inferred at 80.1 mg/L lithium grade.

The commercial scale modules designed for LithiumBank can operate at ~25,000 m³/day and potentially produce ~3,500 tpa LCE based on Boardwalk grades. The DLE technology's adsorbent materials, sourced in North America, have demonstrated longevity of thousands of cycles over 6 years with potential service life exceeding 10 years.

LithiumBank Resources (TSXV: LBNK) (OTCQX: LBNKF) has filed a technical report for its 100% owned Boardwalk lithium brine project in west-central Alberta, revealing significant resource increases. The project now hosts Alberta's highest-grade lithium brine resource at 81.6 mg/L lithium.

Key highlights include:

• 5,195,000 tonnes of measured and indicated lithium carbonate equivalent (LCE) in the Leduc Formation
• 2,777,000 tonnes of inferred LCE in the Leduc and Beaverhill Lake Group formations
• 30% increase in overall lithium resources from previous estimate
• 18% increase in lithium grade

The Boardwalk project spans 395,369 acres and is strategically located with established infrastructure, including all-weather roads and electrical transmission lines. The property is situated 85 km east of Grande Prairie and 270 km northwest of Edmonton.

LithiumBank Resources (LBNKF) announced a significant upgrade to its Boardwalk lithium brine project resource estimate, reporting a 30% increase in overall lithium resources and an 18% increase in lithium grade from the previous estimate.

The updated resource includes 5,195,000 tonnes of combined measured and indicated Lithium Carbonate Equivalent (LCE) at an average grade of 81.6 mg/L lithium, establishing Alberta's highest-grade lithium brine resource to date. The estimate comprises 1,671,000 tonnes of measured LCE at 81.2 mg/L and 3,524,000 tonnes of indicated LCE at 81.8 mg/L within the Leduc Formation.

The Boardwalk project, covering 395,369 acres of contiguous Brine Hosted Mineral Licenses, is located in west-central Alberta. The resource upgrade was prepared in collaboration with SLB using 3D static modeling and uncertainty analysis. The company plans to file a NI 43-101-compliant technical report within 45 days.

LithiumBank Resources has announced successful results from their Direct Lithium Extraction (DLE) pilot plant testing in Calgary. The desorption process generated lithium-rich liquors with concentrations ranging from 2,600 to >4,000 mg/L, achieving a composite eluate averaging >3,100 mg/L lithium.

Key achievements include:

• >98% lithium recovery in adsorption
• >99% impurity removal
• 44x average lithium concentration upgrade from feed
• Production of battery-grade lithium carbonate (>99.95% purity)

The process utilized sulfuric acid for desorption, demonstrating excellent rejection of impurities such as calcium, strontium, and barium. The company also clarified that their September 2024 pilot plant operation achieved 95% uptime, processing 29,000L of brine during the testing period.

LithiumBank Resources Corp. (TSXV: LBNK, OTCQX: LBNKF) announced lithium assay results from its 100%-owned Boardwalk lithium Brine Project in Alberta, Canada. The assays from well 10-6 in the Leduc formation averaged 82 mg/L lithium over a 167m interval. Additionally, the Swan Hills formation, sampled for the first time, averaged 78 mg/L lithium over an 84m interval. The results will contribute to an updated mineral resource estimate for the Boardwalk project. The sampling, conducted under strict QA/QC protocols, will also support Direct Lithium Extraction (DLE) pilot testing. The drilling program, completed on August 8, 2024, confirms the potential of the Boardwalk project, with lithium grades comparable to other regional projects.

LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) has successfully recovered over 98% of lithium from brine during initial pilot plant operations at its 10,000 litres/day Direct Lithium Extraction (DLE) facility in Calgary. The pilot campaign processed over 40,000 litres of brine from four wells within the Boardwalk Lithium Brine Project in Alberta. The initial campaign focused on the absorption/recovery portion of the DLE process, using continuous DLE (cDLE®) technology licensed from Go2Lithim Inc. The process consistently achieved 98-99% lithium recovery, aligning with bench-scale results used in the 2024 Preliminary Economic Assessment for Boardwalk. This achievement is considered a significant milestone for efficiently producing battery-grade lithium and unlocking value for the company.

LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) has completed a bulk brine sampling program at its Park Place Lithium Brine Project in Alberta, Canada. The program collected 148 cubic meters of lithium-rich brine from an active gas producing well, with samples averaging 83.8 mg/L lithium. This aligns with previous results reported in January 2023.

The company plans to process the brine through its 10,000 l/day Direct Lithium Extraction (DLE) pilot plant in Calgary, aiming to demonstrate the commerciality and effectiveness of its licensed DLE technology at a large scale. The Park Place Project is part of North America's largest NI 43-101 inferred lithium brine resource.

LithiumBank's CEO, Rob Shewchuk, stated that this milestone further adds value and de-risks the Park Place Project. The company expects to process the Park Place bulk brine sample in 2024, following the initiation of DLE pilot test work with brine from its Boardwalk Lithium Brine Project.

LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) has engaged SLB (NYSE: SLB) to conduct detailed subsurface reservoir modelling of the Leduc Formation at its Boardwalk lithium brine project in west-central Alberta. This study aims to upgrade and update the current NI 43-101 Resource Estimate, complementing the previous PEA work.

The study will involve reservoir characterization, facies modelling, updated porosity and permeability modelling, and interpretation of 67 kilometres of 2D seismic lines. It is expected to provide higher confidence in future engineering and production designs.

The Boardwalk project's current lithium resource is estimated at 395,000 tonnes LCE (Indicated) at 71.6 mg/L Li and 5.73 million tonnes LCE (Inferred) at 68.0 mg/L Li. LithiumBank aims to optimize operational techniques and maximize brine production through SLB's analysis.