Halifax, Nova Scotia--(Newsfile Corp. - March 31, 2022) - Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: SIXWF) (FSE: AHUH)("Sixth Wave", "SIXW" or the "Company"), a world leader in molecular imprinting technology, announced today that it has been engaged by Champlain Mineral Ventures Ltd. ("CMVL") to begin extraction testing and development of a preliminary flow sheet for extraction of lithium from the high-grade, pegmatite hosted, spodumene at the deposit. The deposit contains not only lithium but other rare or critical minerals such as tantalum, rubidium, tin, beryl, and high purity silica. Good potential for additional spodumene deposits exist nearby on the Exploration Licences owned by CMVL. SIXW has received initial funding to identify optimal insertion points for its technologies and is preparing an expanded test plan to accelerate the process.
Sixth Wave and CMVL are committed to sustainable mining and high Environmental, Social, and Governance (ESG) standards. Initial work will compare and contrast conventional extraction and purification methods with those offered by Sixth Wave's alternate "green lixiviants" and patented purification technology. As previously announced by Sixth Wave on October 27, 2021, (https://sixthwave.com/sixth-wave-innovations-inc-granted-mips-patent-for-extraction-and-purification-of-lithium-mercury-and-scandium/) the Company acquired all rights to an emerging class of "green lixiviants" that have direct application to hard-rock lithium mining and other forms of lithium recovery including extraction from brines and recycling. Green lixiviants garner attention due to their unique properties that are inherently non-toxic, biodegradable with negligible or no vapor. Sixth Wave expects this lixiviant to eliminate costly high energy processes including roasting and acid bakes. Subsequent purification of the leached lithium will be assessed using Sixth Wave's IXOS® molecular technology to produce high purity lithium for conversion to either lithium hydroxide or lithium carbonate using conventional means.
"Lithium continues to be a key driver in the transition from fossil fuel and is predicted to grow steadily in the coming years. Moreover, the development of domestic sources of critical resources has become a core focus of the Canadian Government at the Federal and Provincial levels as evidenced by Ontario Critical Mineral Strategy announced on March 17, 2022. $5 Billion will be invested by the Federal and Ontario governments to support the creation of an EV battery plant in Windsor, Ontario as announced on March 23, 2022. The resources identified at Brazil Lake can provide domestic feedstock of critical battery materials with a greatly reduced carbon footprint compared to legacy mine and process plans", notes Dr. Jonathan Gluckman, President, and CEO of Sixth Wave.
Mr. John F. Wightman, M.Sc., P.Eng., President, and CEO of CMVL commented that "I have been following the advancements at Sixth Wave for some time and I am encouraged by the solid contributions they have already made with IXOS® for gold mining. I am excited to be able to work with a technology-driven team here in Nova Scotia and the possibilities their advancements have for the future of the Brazil Lake project."
About Sixth Wave
Sixth Wave is a development stage nanotechnology company with patented technologies that focus on the extraction and detection of target substances at the molecular level using highly specialized molecularly imprinted polymers (MIPs). The Company is in the process of commercializing its Affinity™ cannabinoid purification system, as well as, IXOS®, a line of extraction polymers for the gold mining industry.
Sixth Wave can design, develop and commercialize MIP solutions across a broad spectrum of industries. The company is focused on nanotechnology architectures that are highly relevant for the detection and separation of viruses, biogenic amines, and other pathogens, for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jon Gluckman"
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
E-mail: info@sixthwave.com
Cautionary Notes
This press release includes certain statements that may be deemed "forward-looking statements" including statements regarding the planned features of the MIPs technology. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. In particular, successful development and commercialization of the MIPs technology are subject to the risk that the MIPs technology may not prove to be successful in detecting virus targets effectively or at all, the uncertainty of medical product development, the uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for medical applications and the need for additional capital to carry out product development activities. The value of any products ultimately developed could be negatively impacted if its patent application is not successful. The Company has not yet completed the development of a prototype for the product that is subject of its patent application and has not yet applied for regulatory approval for the use of this product from any regulatory agency.
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