E3 Lithium (TSXV: ETL) is getting set to test its tech when it comes to direct lithium extraction. The firm has reportedly received approvals from an Albertan regulator to proceed with a field pilot plant.
The pilot plant, the approval for which was granted by the Alberta Energy Regulator, is slated to be built near to the first well drilled by the company in 2022, east of the town of Olds, Alberta. The pilot plant is slated to be part of the firms Clearwater Project.
READ: E3 Lithium Reports 16.0 Million Tonnes Of LCE Measured And Indicated At Lithium Brine Project
Site construction and pre-operation is slated to begin early next month, with the facility slated to be completed and placed into production in the third quarter of 2023. Once up and running, the facility is expected to test Li-IX technology for its ability to conduct direct lithium extraction at scale. Multiple flow sheets are said to have been designed, with the pilot plant intended to test several different lithium extraction systems as a means of identifying the optimal commercial design.
Construction of the facility is expected to cost between $4 and $6 million based on preliminary estimates, the funds for which are said to be in place. The facility will include the ancillary equipment required to bring the lithium brine to surface from the aquifer for pre-treatment, as well as the process equipment used to extract the lithium.
E3 Lithium last traded at $2.59 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
