E3 Lithium Ltd V.ETL

Alternate Symbol(s): EEMMF

Metals & Mining Industrial Metals & Minerals

E3 Lithium Ltd. is a Canada-based lithium resource company. The Company is focused on commercial development of lithium extraction from brines contained in its mineral properties in Alberta. The Company’s Clearwater Project is located between Red Deer and Calgary in Alberta. Its Direct Lithium Extraction (DLE) on-exchange technology uses a sorbent designed to be selective towards lithium ions. Its technology reduces volumes of low-grade brine into a high-grade lithium concentrate, removing nearly all impurities. This produces a clean product for the development of high purity lithium compounds used in Li-ion batteries. The Company has measured and indicated lithium resources in Canada, with 16.2 million tons (Mt) measured and indicated Lithium Carbonate Equivalent (LCE), hosted in the Leduc Aquifer. In addition, it has 0.9 Mt of inferred mineral resources in its Rocky Area.

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E3 Lithium Ltd > Red Cloud update

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Comment by jcw604on Jul 20, 2022 2:57pm

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Post# 34838020

RE:RE:RE:RE:RE:Red Cloud update

I think it might take longer than a few months to reach that mile stone. Not so quick.

Yajne wrote: Agreed, it will take data from a few wells to update the reserves from "inferred" to "Measured and Indicated". Drilling of first well took 2 weeks (June 24 to July 7) so fairly quick for wells 2, 3, etc and we could see some of the new reserve data before end of Q3, not sure how long before the formal reserve update to M&I.

Bookworm28 wrote:
Judging from the pre-market open, the answer to your question appears to be a bit bearish, but, they're going to drill a 2nd well starting next week, with results in August. So we'll have to wait and see what those results are like before we get too excited either way. Probably a good idea to get a couple of data points before announcing any results.