- E3 Lithium (ETL) has released results from the third and final well from its inaugural 2022 drill program
- The well demonstrated a concentration of 74 mg/lithium, which is consistent with the second well’s 82 mg/lithium and the first’s 76.5 mg/lithium
- The data from the three wells will allow the company to upgrade its resource from inferred to measured and indicated
- E3 Lithium is developing an inferred resource of 24.3 million tonnes of lithium carbonate equivalent in Alberta
- E3 Lithium (ETL) is up by 0.51 per cent, trading at $1.97 per share
E3 Lithium (ETL) has released results from the third and final well from its inaugural 2022 drill program.
The well-outlined thickness of the Leduc Aquifer in the Clearwater Project as consistent at 202 m. The company collected a brine sample at a single interval, roughly in the middle of the aquifer, demonstrating a concentration of 74 mg/lithium.
The third well – located 10 km northwest of the first and 23 km northwest of the second – was repurposed from an existing oil and gas well, which enabled cost savings of more than $1.5 million and required no new land disturbance.
The consistency allows E3 to design and build its commercial facility without having to handle a large variation in fluid chemistry.
The data from the three wells will also allow the company to upgrade its resource from inferred to measured and indicated.
![](https://themarketherald.ca/wp-content/uploads/2023/01/E3_Lithium_Lithium_Concentration_Results_from_Third_Well_Demonst.jpg)
E3 Lithium is developing an inferred resource of 24.3 million tonnes of lithium carbonate equivalent in Alberta. The company intends to produce high-purity, battery-grade lithium products through its direct lithium extraction technology.
E3 Lithium (ETL) is up by 0.51 per cent, trading at $1.97 per share as of 9:36 am EST.