- E3 Lithium is reporting higher lithium concentrations in samples from the Nisku Aquifer taken in late 2023
- The aquifer’s geology is similar to E3’s existing 16.9 million tonne lithium carbonate equivalent resource and is ideally set up for commercial production, subject to a resource estimate, adding considerable investor upside
- E3 Lithium intends to produce battery-grade lithium products through high-recovery direct extraction technology to support global electrification
- E3 Lithium stock is down by 6.73 per cent year-over-year, but has gained 506.25 per cent since 2019
E3 Lithium (TSXV:ETL) is reporting higher lithium concentrations in samples from the Nisku Aquifer taken in late 2023.
The company sampled brine from six well locations at its Clearwater project area (US$1.1 billion net present value) in Alberta, yielding concentrations as high as 87 mg/L, which are higher than historic Nisku samples from 37 mg/L to 75 mg/L from separate wells in 2017 and 2020.
The Nisku Aquifer
The Nisku stretches across E3’s permit area and resides above the Leduc Aquifer, which is the source of the company’s 16 million tonnes of measured and indicated lithium carbonate equivalent, the largest such resource in Canada, according to Natural Resources Canada data.
Both aquifers show high porosity and permeability, allowing for the high brine flow rates necessary for commercial lithium production. E3 will also evaluate the economic viability of oil and gas production from the reservoirs, given the prevalence of historical hydrocarbon production in the area.
“Finding higher concentrations of lithium in the Nisku is a significant discovery,” Chris Doornbos, president and chief executive officer of E3 Lithium, said in a statement. “This opens the door to potentially produce from an additional aquifer to the Leduc in the future. The Nisku is well known in Alberta as a prolific oil producer and is similar to the Leduc in that respect. E3 Lithium has not completed a resource estimate in the Nisku, and if successful, would add additional resources to our already significant resource base from the Leduc.”
Lithium concentrations sampled from the Nisku Aquifer
| Well number |
Lithium grade |
| 6-11 |
81 mg/L |
| 16-35 |
87 mg/L |
| 6-25 |
87 mg/L |
| 9-23 |
65 mg/L* |
| 13-24 |
83 mg/L |
| 16-26 |
84 mg/L |
*According to a news release, “This sample produced lower lithium concentrations with brine chemistry that differed from the other wells and historic water analysis data from the same well, which may indicate contamination. E3 Lithium is investigating potential causes and may resample.”
E3 Lithium intends to produce battery-grade lithium products through high-recovery direct extraction technology to support global electrification. The company is developing an Alberta-based resource of 16 million tonnes of lithium carbonate equivalent measured and indicated and 0.9 million tonnes inferred.
E3 Lithium stock (TSXV:ETL) last traded at C$1.94 per share. The stock is down by 6.73 per cent year-over-year, but has gained 506.25 per cent since 2019.
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