LBNK.v drastically increases its land holdings. Over the past month, LithiumBank (TSXV: LBNK) has greatly expanded its lithium-brine land holdings. Strategic acquisitions have brought the company’s current land holdings to over 530,000 acres with a focus on the Fox Creek, Leduc reef area. Additional Metallic and Industrial Mineral (MIM) Permits were acquired directly from the government of Alberta.
The Fox Creek land acquisition is strategic for LithiumBank, as the Leduc Carbonate Reef Complex (Woodbend Group) and the underlying Swan Hills Carbonate Complex (Beaverhill Lake Group) have historically been known to host the highest grades of lithium-in-brine concentrations in Alberta. Historical samples collected by multiple petro-operators and donated to the Alberta Geological Survey, range from 76 mg/l to 130 mg/l lithium.
The company has also acquired a strategic land position in the Peace Arch area of northern Alberta totaling 73,610 acres.
With the company already having engaged contractors for lithium-brine extraction and processing, the next big catalyst to watch for from LithiumBank will be the progression of facility development.
LBNK.v is currently trading at $.95, valued at $35.32 million.
https://ceo.ca/@GlobeNewswire/lithiumbank-increases-lithium-brine-land-position-by