EMPS August 2024 News Summary Post EMP Metals Corp. (Ticker: EMPS.c or EMPPF for US investors) is a Canadian-based lithium exploration and development company specializing in large-scale resources through the use of direct lithium extraction (DLE) technology. The company holds 196,000 net acres (approximately 79,300 hectares) of Subsurface Dispositions and strategic wellbores in Southern Saskatchewan, making it a significant player in the rapidly growing lithium industry. EMP Metals focuses on extracting lithium from brines, aiming to position itself as a leader in the supply of this critical mineral for battery technologies.
August 2024 has been a pivotal month for EMP Metals, marked by significant progress on multiple fronts. The company made strategic acquisitions, advanced its drilling programs, and achieved industry-leading results in its pilot projects. These accomplishments, highlighted in the following summaries, underscore the company's strategic initiatives and the momentum it has built throughout the month.
Acquisition of ROK Resources’ Interest in Saskatchewan Lithium Assets
EMP Metals made a significant move in consolidating its position in Saskatchewan's lithium sector by acquiring ROK Resources Inc.'s interest in Hub City Lithium Corp. This acquisition allows EMP Metals to own 100% of the issued and outstanding shares of Hub City Lithium, further strengthening its hold over the Saskatchewan lithium properties. The deal also includes an ongoing management agreement with ROK Resources to continue managing the exploration and development activities in the region. This consolidation is expected to enhance shareholder value and advance the company’s flagship Viewfield project, known for its high lithium concentrations and clean brines.
Commencement of Summer Drilling Program in Southeast Saskatchewan
On August 13, EMP Metals kicked off its two-well summer drilling and testing program at the Viewfield project in Southeast Saskatchewan. The program aims to build on the previous discoveries, which included some of the highest recorded lithium concentrations in Canadian brines. This program is a critical step in enhancing the company's resource base and advancing its Front-End Engineering Design (FEED) study.
Successful Pilot Program with Koch Technology Solutions and Saltworks Technologies
EMP Metals successfully completed its Direct Lithium Extraction (DLE) Field Pilot Facility in partnership with Koch Technology Solutions and Saltworks Technologies. The pilot, located in Saskatchewan, demonstrated exceptional lithium recovery rates of over 97% and impurity rejection rates exceeding 99%. These results set a new industry benchmark, reflecting the high quality and cleanliness of the Saskatchewan brines. The DLE eluate produced during the pilot will now be refined into battery-grade lithium carbonate, marking a significant milestone towards commercial project deployment.
Completion of 8-24 Vertical Well and Commencement of 4-23 Horizontal Well
EMP Metals completed the drilling of the 8-24 vertical well at its Viewfield project as a part of its Summer Drilling Program. The well was designed to confirm lithium concentrations and reservoir characteristics in the northern part of the area. The company also commenced drilling a horizontal well, which is believed to be the first of its kind targeting the Duperow formation for lithium brine extraction. This horizontal well is expected to enhance lithium recovery and significantly increase flow rates compared to traditional vertical wells.
As August comes to a close, EMP Metals stands well-positioned to continue its upward trajectory in the lithium industry. With a strengthened asset base, advanced drilling operations, and successful pilot programs that highlight the company’s innovative approach, EMP Metals is poised to capitalize on the growing demand for lithium. The company’s strategic initiatives and technological advancements this month not only enhance its resource potential but also pave the way for future growth and development as a leader in sustainable lithium extraction.
Full press releases here: https://empmetals.com/news/
Posted on behalf of EMP Metals Corp.