- E3 Lithium (ETL) sample results from its second well proved consistent with concentrations from its first well and the historic results across the Leduc Reservoir
- The Leduc area is an aquifer on the Clearwater Project in Alberta
- The lithium concentration from the second well was between 73 to 82 mg/L
- Sampling work on the third and final well was completed in December and results are expected soon
- E3 Lithium (ETL) is up 5.29 per cent trading at $1.99 per share
E3 Lithium’s (ETL) samples from its second well have yielded positive results.
Readings are consistent with lithium concentrations from its first well and the historic results across the Leduc Reservoir on its Clearwater Project in Alberta.
The Leduc area is an aquifer in an expansive ancient reef complex with excellent rock properties occurring over 2 km below ground level.
The second well was drilled over the summer. Based on brine samples retrieved from three zones, the lithium concentration from the second well was between 73 to 82 mg/L.
Chris Doornbos, President and CEO of E3 Lithium, commented,
“The consistency of lithium across our reservoir as demonstrated through our first two wells is critical to the confidence in our understanding of this resource and our plans for upgrading to measured and indicated.”
The company’s third and final well related to the drill program was repurposed from an existing oil and gas well. The sampling work on this well was completed in December and concentration results are expected soon.
E3 Lithium is a development company with an inferred resource of 24.3 million tonnes of lithium carbonate equivalent in Alberta. The company’s goal is to produce high-purity, battery-grade lithium products.
E3 Lithium (ETL) is up 5.29 per cent trading at $1.99 per share as of 2:45 pm EST.