LithiumBank Resources Corp Stock Price, News & Analysis

LithiumBank Resources Corp. (LBNKF) provided an update on its Kindersley Lithium Project (LKLP) in Saskatchewan. The project spans 111,282 acres within the Duperow Formation, known for high lithium brine grades (70-190 mg/L). The company plans to complete a NI 43-101 Resource Estimate within 6 months, and aims for a Preliminary Economic Assessment (PEA) in H2 2023. Key highlights include a modelled brine volume of 3.89 million m³ at 6% porosity and up to 300 metres thickness of the reservoir. The project benefits from existing infrastructure and favorable land agreements, positioning LithiumBank for expedited development.

LithiumBank Resources Corp. (OTCQX: LBNKF) has provided a corporate update highlighting its achievements in 2022 and strategies for 2023. The company completed a major acquisition campaign covering over 4 million acres in Alberta and Saskatchewan, securing three key development districts. Notable accomplishments include establishing Canada's first indicated lithium brine resource at the Boardwalk Project and achieving lithium grades of up to 82.0 mg/L at the Park Place Project. In 2023, LithiumBank plans to develop these projects further by upgrading resource classifications and commissioning a brine processing pilot plant, with a Preliminary Economic Assessment expected by Q1 2023.

LithiumBank Resources Corp. has appointed Mr. Paul Matysek as Executive Chairman, transitioning the company from exploration to development of lithium projects in North America. With over 40 years of industry experience, Matysek has successfully led multiple companies to significant sales, including lithium brine assets. Ann Fehr has been appointed as Chief Financial Officer, effective January 27, 2023, following the resignation of Andre Mbeng. The company is also implementing a new stock option plan allowing for 7.7 million options, subject to shareholder and TSXV approval. This strategic leadership change aims to enhance shareholder value and expedite lithium production.

LithiumBank Resources Corp. (OTCQX: LBNKF) announced promising assay results from its Park Place Lithium Brine Project in Alberta, revealing lithium grades between 71.2 and 82.0 mg/L, with an average of 77.2 mg/L. The project spans over 1.6 million acres atop lithium-rich formations, historically known for high lithium concentrations. Utilizing existing infrastructure, LithiumBank aims to expedite geological studies and estimates a NI 43-101 Resource Estimate in the future. Independent Director Paul Matysek expressed optimism about the results, which align with historical data, suggesting higher lithium grades compared to other regions in Alberta.

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.

LithiumBank Resources Corp. (TSX-V: LBNK, OTCQX: LBNKF) has completed a hydrogeological study for its Kindersley Lithium-brine project in Saskatchewan. Conducted by Matrix Solutions, the study identified multiple potential lithium brine production zones within the Duperow Formation, with a brine volume of 3.89 km³ at a 6% porosity cut-off. Expected production rates could reach 1,600 m³ per day. The findings support the preparation of a NI 43-101 compliant technical report and future Preliminary Economic Assessment, enhancing the project’s viability for lithium-brine production.

LithiumBank Resources Corp. has announced updated Mineral Resource Estimates (MREs) for its Boardwalk Lithium Brine Project in Alberta, revealing 393,000 tonnes of Indicated Lithium Carbonate Equivalent (LCE) with a grade of 71.6 mg/L, and 5,808,000 tonnes of Inferred LCE at 68.0 mg/L. This marks a significant milestone as it is the first Canadian lithium brine project to classify a portion of its resource as Indicated. The updated resource supports the Company’s plans for advanced studies, including a Pre-Feasibility Study.

LithiumBank Resources Corp. (LBNKF) announced its successful Direct Lithium Extraction (DLE) test results from its Boardwalk Lithium Brine Project in Alberta. The tests demonstrated a recovery rate of 93% lithium chloride in under 60 minutes, achieving lithium concentrate with a grade increase of 35-60 times over the initial brine. High purity lithium concentrations of 2,500-4,000 mg/L were also achieved. These results will be pivotal for the upcoming Preliminary Economic Assessment (PEA) for a commercial-scale processing facility.

LithiumBank Resources Corp. (TSX-V: LBNK, OTCQX: LBNKF) has completed a hydrogeological study and well network design for its Boardwalk Lithium Brine Project in Alberta. The study indicates strong flow rates, essential for the Preliminary Economic Assessment (PEA) nearing completion. Key points include a multi-well pad design to enhance economics and minimize surface impact, a production capacity of 250,000 cubic meters of brine per day, and favorable hydraulic characteristics indicating a sustainable lithium-brine project for up to 20 years. The estimated resource includes 1,122,000 tonnes of elemental lithium.