RE:RE:Is this company still aliveALIVE AND WELL! HUGE NEWS TODAY (see below) - THIS THING IS ABOUT TO RUN!!!!
KELOWNA, BC , Oct. 7, 2020 /PRNewswire/ -- Enertopia Corporation (OTC: ENRT) (the "Company" or " Enertopia ") provides the following update.
Enertopia has signed an NDA to share data for an initial pilot plant which will showcase the possibility of building a net carbon neutral Lithium mining operation in the Nevada desert.
The company's technical advisors believe that the positive testing to date may warrant patent protection, and thus the Company is keeping all internal data strictly confidential at this time. Additionally, beyond the above-mentioned NDA, the Company has also signed several NDA's with industry partners as it works to reach its goal of a low capex solution to battery grade lithium production.
Assay Testing Continues:
Our current phase of Lithium solution testing continues to support further work in the area of reduced acid consumption. Acid reagent consumption is a considerable expense in the potential processing of Lithium claystone projects worldwide. Unfortunately, with the increased amount of industry drilling the turnaround time for assay work has increased from 10 days to approximately 5 weeks. These delays are expected to last through the remainder of 2020 and into Q1 2021.
Our latest series of testing has focused on potential industry low acid consumption rates of under 5% by volume weight using various acids. Our tests have produced recovery rates of between 55% to 62% depending on the type of acid, and type of Lithium claystone being treated. We have also been reviewing other 3rd party data that could be extremely beneficial in lowering acid costs by both unit cost and reducing transportation costs. We believe that using novel approaches to acid consumption will lead to higher lithium in solution values per % of acid by volume that is the current industry norm, with lower acid consumption levels. This has the potential of lowering upfront capex costs and reducing neutralizing waste claystone (back end expense), thus reducing water consumption needs.
Concurrently with methods of acid production, the company has been reviewing novel applications, using clean technology, to increase the recyclability of process water. Analysis of these methods indicate the potential for greater than 90% of the process water being reused over time.
Conclusion:
We reaffirm our Conclusion that we stated in our last press release on August 3, 2020 below and are pleased that Tesla Inc. came to the same conclusion with respect to Li claystone deposits in Nevada during their battery day announcement on September 22, 2020 :
We continue to believe that the Lithium hosted claystone deposits in Nevada will become major sources of Lithium production in the 2020s while offering the USA a secure domestic supply of battery grade Lithium products. We applaud the members of Congress that see the need for bi-partisan support for securing a domestic supply of strategic metals which include Lithium. We are also excited to see and witness the convergence of several technologies that are changing the very way we produce and consume electrical energy amidst the growing opportunities for a better world, all in a far shorter time span than most realize.
The Company thanks the shareholders for their questions. We continue to work diligently and methodically along our path that we believe over time will benefit all current stakeholders the most.
The Qualified person:
The technical data in this news release have been reviewed by Douglas Wood , P.Geol a qualified person under the terms of NI 43-101.