- Oops!Something went wrong.Please try again later.
CALGARY, AB, Sept. 17, 2021 /CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading direct lithium extraction ("DLE") technology innovator, reports that it has filed an amended technical report titled "NI 43-101 Technical Report Lithium Resource Estimate for the Exshaw West Property, South-Central Alberta, Canada" effective June 15 2018, and dated September 17, 2021 (the "Amended Exshaw West Technical Report"), and an amended technical report titled "E3 Metals Corp. NI 43-101 Technical Report Preliminary Economic Assessment Clearwater Lithium Project Alberta, Canada" effective November 16, 2020, and dated September 17, 2021 (the "Amended Clearwater PEA", and together with the Amended Exshaw West Technical Report, the "Amended Technical Reports").
The Amended Technical Reports have been prepared to correct minor, non-material deficiencies identified by the Alberta Securities Commission. The Amended Clearwater PEA has been amended to correct clerical errors and to clarify certain portions of the report. Examples include: clarifications in Section 12 and in Qualified Person statements, the revision of language in Section 14 to remove the word "production" in certain circumstances, and the clarification of recommendations in Section 26 to be specific to the next stage of project development towards a pre-feasibility study. There were no changes to the report's conclusions, recommendations, calculations or numerical values. There are no material changes to the Amended Clearwater PEA.
The Amended Exshaw West Technical Report has been amended to clarify certain portions of the report. Examples include clarifications in Section 12 and in Qualified Person statements. There were no changes to the report's conclusions, recommendations, calculations or numerical values. There are no material changes to the Amended Exshaw West Technical Report. Copies of both Amended Technical Reports will be filed on SEDAR at www.sedar.com.
The Amended Technical Reports have been prepared in accordance with the disclosure and reporting requirements set forth in the Canadian Securities Administrators' National Instrument 43-101 ("NI 43-101"), Companion Policy 43-101CP, and Form 43-101F1, as well as with the Canadian Institute of Mining, Metallurgy and Petroleum's "CIM Definition Standards For Mineral Resources and Reserves, Definitions and Guidelines" adopted by the CIM Council on May 10, 2014.
The Qualified Persons who prepared the Amended Clearwater PEA are Gordon MacMillan P.Geol. of Fluid Domains Inc., Damian Bransby-Williams, P. Eng., of SCOVAN Engineering, Scott Pattinson, P. Eng. of SCOVAN Engineering, Werner Vorster, PhD, P.Eng., C. Eng. of NORAM Engineering and Greg Owen, P. Eng. of GLJ Ltd. The Qualified Persons who prepared the Amended Exshaw Technical Report are prepared Gordon MacMillan, P.Geol, of Fluid Domains Inc., and Grahame Binks, MAusIMM, formerly of Sedgman Canada Limited and currently of Pinnacle Processing Pathways.
About E3 Metals Corp.
E3 Metals is a lithium development Company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Metals' goal is to produce high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Metals has the potential to deliver lithium to market from one of the best jurisdictions in the world.
For more information about E3 Metals, visit http://www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
E3 METALS CORP.
1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Sept 17, 2021. E3 Metals has also released three NI 43-101 Technical Reports providing a total resource of 7.0Mt LCE. The Clearwater Lithium Project PEA resource estimate, identifying 2.2Mt LCE (inferred) effective Sept 17, 2021; the North Rocky Resource Area (NRRA) Technical Report effective October 27, 2017 identifying 0.9Mt LCE (inferred); and the Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE (inferred) dated Sept 17, 2021. All reports are available on the Company's website (e3metalscorp.com/technical-reports) and SEDAR (www.sedar.com)
Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE e3 Metals Corp.
View original content: http://www.newswire.ca/en/releases/archive/September2021/17/c3727.html