Lithium, a crucial element in electric vehicle batteries, is in high demand globally. Alberta, Canada, known for its substantial oil and gas resources, also holds one of the world's largest lithium deposits within the same geological formation. With Direct Lithium Extraction (DLE) these resources could become available for extraction. Alberta is joining the lithium race backing E3 Lithium in its DLE pilot program.
Source: https://www.bnnbloomberg.ca/alberta-enters-global-lithium-race-with-opening-of-first-extraction-pilot-project-1.1968555
However, E3 is not the only company developing DLE in the province. Volt Lithium Corp. (Ticker: VLT.v or VLTLF for US investors) is also actively working on proprietary DLE technology to recover lithium from oilfield brine while reducing extraction costs.
VLT's extraction process involves treating oilfield brine and applying their unique IES-300 DLE Technology, which has demonstrated the ability to remove 99% of impurities from lithium-enriched oilfield brine while recovering up to 93% of the lithium content.
The company holds lithium extraction rights for the extensive Rainbow Lake Project, covering 430,000 acres and estimated to contain a substantial 4.3 million tons of lithium carbonate equivalent.
As detailed in "Lithium Co. An Extraordinary Opportunity" by Michael Ballanger, VLT recently completed a CA$6.8 million financing round.
Full article here: https://www.streetwisereports.com/article/2023/09/08/lithium-co-an-extraordinary-opportunity.html
Ballanger also highlights how VLT previously announced promising results from its pilot lithium extraction, boasting low production costs and high recoveries. In the pilot VLT used its proprietary direct lithium extraction method to achieve a 90% recovery rate of lithium from brines containing as little as 34 milligrams per liter.
A Preliminary Economic Assessment (PEA) for the Rainbow Lake Project is expected in late September, which could further boost VLT's prospects.
Additionally, Lt. General Andrew Leslie has taken over as Chairman of the company's Board of Directors, adding significant expertise and credibility to Volt's leadership team.
More on this appointment here: https://voltlithium.com/wp-content/uploads/2023/09/23-09-05-Option-Grant-Chair-Changes-FINAL.pdf Posted on behalf of Volt Lithium Corp.