Today, LithiumBank Resources Corp. reported significant progress on its continuous Direct Lithium Extraction (cDLE™) pilot plant, licensed from G2L Greenview Resources Inc., a joint venture with Computational Geosciences Inc (CGI), a subsidiary of Ivanhoe Electric Inc., and Clean TeQ Water. The pilot plant is currently receiving its final upgrades at the Clean TeQ Water facility in Melbourne, Australia, before being transported to Calgary, Canada.
These final upgrades include new high-efficiency pumps and components designed for handling high-temperature brines. Once completed this month, the plant will be moved to LithiumBank's facilities in Calgary, Alberta. The plant is set to test G2L’s DLE technology at reservoir temperatures at a rate of up to 10,000 L per day. This testing phase will provide essential design parameters for feasibility studies of LithiumBank’s lithium development properties in Alberta and Saskatchewan.
Starting Q1 2024, LithiumBank plans to pilot brine sourced from over 2.1M acres of its Alberta projects, Boardwalk and Park Place, as well as from Estevan, Kindersley and South in Saskatchewan. The piloting period is expected to last between 12-18 months.
Following the release of the Boardwalk Preliminary Economic Assessment in May 2023, LithiumBank and its consultants have been working closely with G2L and CGI to optimize the project flow sheet. Initial tests identified several process parameters that could be improved with Licensed Technology, which are expected to positively impact project economics.
LithiumBank CEO Rob Shewchuk expressed optimism about the progress towards the delivery and installation of the G2L cDLE pilot plant. He noted that the pilot plant will be the largest ever commissioned for testing unconventional direct brine lithium assets in Western Canada. Successful testing is anticipated to demonstrate the commercial viability and scalability of their unique combination of resource, process, and design.
LithiumBank, holding 2,480,196 acres of brown-field lithium brine permits across Alberta and Saskatchewan, focuses on developing its two flagship projects, Boardwalk and Park Place. In May 2023, LithiumBank completed a preliminary economic assessment of its Boardwalk project that targets a 31,350 TPA operation with a pre-tax USD $2.7B NPV and a 21.6% IRR. The company sees potential for near-term enhancements with the successful implementation of the pilot plant.
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