- E3 Lithium (TSXV:ETL) has completed all milestones of the pilot project funded by Natural Resource Canada
- The funding came from the Critical Minerals Research, Development and Demonstration Program in the amount of C$3.5 million, with E3 Lithium receiving the final payment of $354,000
- Funding has supported the company’s field pilot operations and the advancement of using direct lithium extraction technology to extract lithium from brines in Alberta
- Shares of E3 Lithium are up 5.13 per cent to C$1.23 as of 12:33 pm ET
E3 Lithium (TSXV:ETL) revealed that it has completed all milestones of the pilot project funded by Natural Resource Canada (NRCan).
In a news release, the company stated the funding initially came from the Critical Minerals Research, Development and Demonstration Program in the amount of C$3.5 million, with E3 Lithium now receiving the final payment of $354,000.
Funding has supported the company’s field pilot operations and the advancement of using direct lithium extraction (DLE) technology to extract lithium from brines in Alberta.
Under the pilot project, the company demonstrated the DLE technology at scale, which was able to achieve high lithium recovery from bines with high flow rates.
“We are grateful for NRCan’s support as we progress towards commercializing lithium production right here in Alberta,” Chris Doornbos, CEO of E3 Lithium, said in a statement. “This investment played an important role in de-risking the technology aspect of the project. Through the pilot project, we achieved our key milestones and advanced the commercial viability of our DLE flowsheet.”
The company now plans to advance its plans to build a demonstration facility that will produce battery-grade lithium carbonate, which will lay the groundwork for a commercial lithium facility.
E3 Lithium is a development company with a total of 16.2 million tons of lithium carbonate equivalent (LCE) as well as 0.9 million tonnes LCE inferred mineral resources in Alberta and 2.5 million tonnes LCE inferred mineral resources in Saskatchewan.
Shares of E3 Lithium (TSXV:ETL) are up 5.13 per cent to C$1.23 as of 12:33 pm ET.
Join the discussion: Find out what everybody’s saying about this stock on the E3 Lithium Bullboard investor discussion forum, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image: E3 Lithium)
