India Plans to Auction Newly Discovered 5.9 Mt Lithium Resource

March 16, 2023 at 10:01 AM EDT

As the world hunts for more lithium supply, several new contenders are entering the race. Last month, India became an unlikely participant after discovering a lithium block with an estimated 5.9 million tonnes of lithium. However, just one month later, India has announced its plans to auction off the lithium block. The deposit, which is the first known lithium resource in the country, gives India the fifth largest lithium reserves in the world. The Islamic Republic of Iran just announced that it has discovered what could be one of the largest lithium reserves in the world with an estimated 8.5 million tons (Mt) of lithium. This would make Iran’s new discovery the second largest lithium reserve in the world after Chile, which boasts an estimated 9.3 Mt and ahead of Australia which contains 3.8 Mt. As reported by Natural Resources Canada, Canada isn’t far behind with an estimated 3.2 Mt of lithium oxides resources (measured and indicated) at hard rock deposits, making it another contender in the lithium supply race. According to S&P Global, a global shortage of lithium could happen as soon as 2024 because demand is rising. E3 Lithium (TSXV:ETL) (OTCQX:EEMMF) is focused on developing its 24.3 Mt LCE inferred resources in Alberta, Canada, while Sigma Lithium (NASDAQ:SGML) (TSXV:SGML), American Lithium (TSXV:LI) (NASDAQ:AMLI), American Battery Technology Co (OTCQB:ABML), and Atlas Lithium (NASDAQ:ATLX) are focused on lithium projects and operations in the US and South America.

E3 Lithium (TSXV:ETL) (OTCQX:EEMMF) is continuing to achieve significant milestones in both developing its 24.3 million tonnes of inferred lithium resources at the Clearwater Lithium Project in Alberta and piloting Direct Lithium Extraction (DLE) technology in the field in 2023.

E3 Lithium recently outlined its goals and strategic vision for 2023, starting with a Measured and Indicated (M&I) resource upgrade to increase the confidence and understanding of its lithium-in-brine resource. Following the resource upgrade, the company will be focusing on completing a Pre-Feasibility Study (PFS) by the end of the year to outline the detailed plans for its first commercial facility and one of the first global reserves for a DLE resource. Upon the successful completion of the PFS, E3 intends to complete a Feasibility Study, receive all necessary regulatory permissions, and deliver a project finance arrangement to enable the construction of its first commercial facility in Alberta.

E3 Lithium is also moving along with the development of its field pilot plant. The goal of the pilot is to provide critical information to design its commercial facility. The next steps in the plant development include obtaining approval from the Alberta Energy Regulator, completing detailed design and engineering, publishing KPIs on expected performance, commissioning equipment on site and commencing commercial operations.

Visit this link to find out more about E3 Lithium Ltd (TSXV:ETL) (OTCQX:EEMMF).

Lithium Companies Report Drilling Progress

As lithium demand continues to rise, mining companies are working to uncover more of the white gold and expand production.

On February 13, Sigma Lithium (NASDAQ:SGML) (TSXV:SGML) reported that it was producing crushed lithium material in continuous batches and had completed commissioning the Greentech Plant’s crushing circuit on time and as planned for December 20, 2022 and January 23, 2023. In addition, the company stated that it would begin soliciting firm quotations from vendors for detailed engineering and capital expenditure pricing for the Greentech Plant expansion (Phase 2 and 3) at FEL-3 precision. The amount of run-rate Battery Grade Sustainable Lithium produced by the Greentech Project will increase from 270,000 tpa to 766,000 tpa with the expansion.

On March 6, American Lithium (TSXV:LI) (NASDAQ:AMLI) announced that it has appointed DRA Global as lead engineer to coordinate the completion of a Pre-Feasibility Study (PFS) at its Falchani Lithium Project in Southern Peru. The first step towards completing the PFS involves updating the existing Preliminary Economic Assessment (PEA) for Falchani, which should help expedite the PFS process. The work required to update the PEA started in H2 2022, with a focus on incorporating Sulphate of Potash and Cesium by-product which are expected to contribute to the project economics.

American Battery Technology Co (OTCQB:ABML) has announced the results of its third-party Qualified Person (QP) audited Inferred Resource Report, which details the analysis of its lithium deposit at its Tonopah Flats Lithium Project in Big Smoky Valley, Nev., which has resulted in the identification of one of the largest known lithium deposits in the United States. The ABTC Tonopah Flats Lithium Project consists of 517 unpatented lode claims encompassing about 10,340 acres, and ABTC owns 100% of the mining lode claims constituting the Tonopah Flats property as well as the rights to all locatable subsurface minerals. ABTC commenced surface sampling on these claims in the summer of 2021, followed by multiple subsurface drilling campaigns totaling 12,000 feet of exploration covering roughly 65% of the land.

Atlas Lithium (NASDAQ:ATLX) announced in February highlights from recent third-party geochemical testing of core samples drilled from its Neves Lithium Project’s Abelhas Target. Furthermore, the Company’s technical team boosted the estimated size of one of its numerous lithium-bearing ore bodies to at least 1.1 kilometers (0.7 miles), with such pegmatite still open to extension in size at both ends and at depth. Following the local tradition of naming noteworthy discoveries, this pegmatite is now known as Anitta. According to publicly available reports, the neighboring pegmatite Xuxa, owned by another lithium prospecting company, is 1.5 kilometers long.

Featured Image @ Depositphotos

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding E3 Lithium Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to E3 Lithium Ltd.’s industry; (b) market opportunity; (c) E3 Lithium Ltd.’s business plans and strategies; (d) services that E3 Lithium Ltd. intends to offer; (e) E3 Lithium Ltd.’s milestone projections and targets; (f) E3 Lithium Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) E3 Lithium Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) E3 Lithium Ltd.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute E3 Lithium Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) E3 Lithium Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) E3 Lithium Ltd.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) E3 Lithium Ltd.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of E3 Lithium Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) E3 Lithium Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact E3 Lithium Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing E3 Lithium Ltd.’s business operations (e) E3 Lithium Ltd. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, E3 Lithium Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does E3 Lithium Ltd. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither E3 Lithium Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of E3 Lithium Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of E3 Lithium Ltd. or such entities and are not necessarily indicative of future performance of E3 Lithium Ltd. or such entities.

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