LithiumBank Resources Corp. reports developments tied to lithium-enriched brine projects in Western Canada. Company updates center on the 100% owned Boardwalk Lithium Brine Project in Alberta, including brine sampling, well ownership and reservoir work, Direct Lithium Extraction processing, and technical programs conducted under NI 43-101 mineral disclosure standards.
Recurring news also covers the Park Place Lithium Brine Project, brine-hosted mineral licence holdings, lithium carbonate equivalent resource estimates, non-dilutive project funding from Emissions Reduction Alberta, development agreements for modular DLE technology, and shareholder meeting results.
LithiumBank Resources Corp. (TSXV: LBNK, OTCQX: LBNKF) announced its initial National Instrument 43-101 lithium-brine mineral resource estimates for its Park Place project in Alberta. The assessments, prepared by SLB, estimate a total inferred resource of 21,681,000 tonnes of Lithium Carbonate Equivalent (LCE) at an average grade of 80.2 mg/L lithium. The project includes resources from both the Leduc and Swan Hills formations, making it the largest known lithium-brine resource in North America. The company plans further sampling and testing, and a Preliminary Economic Assessment (PEA) is anticipated. These developments position Canada as a potential major lithium supplier in North America, leveraging 27.78 million tonnes LCE across LithiumBank’s Alberta projects.
LithiumBank Resources has acquired a wellbore within its Boardwalk Lithium Brine Project in Alberta, following approval from the Alberta Energy Regulator.
The well, previously used for oil and gas, will now support lithium extraction testing. The project encompasses a large lithium-rich brine resource with significant indicated and inferred resources.
The company plans to deepen the well and conduct further testing, expecting to enhance the project's resource confidence.
Additionally, engineering firm McElhanney has been engaged to support further well acquisitions and regulatory guidance.
LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF) held its Annual and Special Meetings of Shareholders on April 25, 2024, where all resolutions were approved. Shareholders reappointed the auditors, set the number of directors at five, elected five nominees as directors, approved a grant of incentive stock options, and ratified the Advance Notice Policy. The CEO expressed gratitude to shareholders and thanked Gianni Kovacevic for his service to the Board of Directors.
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