June 26, 2024 -- LithiumBank Resources Corp. has announced a major milestone with the identification of the largest known lithium brine resources in North America. The National Instrument 43-101 estimates indicate 21,681,000 tonnes of inferred Lithium Carbonate Equivalent (LCE) at an average grade of 80.2 mg/L lithium within its Park Place project in Alberta.
Questions around this news
Where is LithiumBank’s Park Place project, and what resource estimate was announced?
The Park Place project is in Alberta. The release reports an inferred resource of 21,681,000 tonnes of lithium carbonate equivalent (LCE), with an average lithium grade of 80.2 mg/L. The estimate is stated to follow National Instrument 43-101 standards and is based on lithium brine in the project area.
What does an inferred mineral resource mean?
An inferred mineral resource is an estimate based on geological evidence and sampling that is not yet sufficient to establish the level of confidence associated with more advanced resource categories. It indicates that mineralization is considered potentially present, but its quantity and grade remain uncertain and may change as further exploration and evaluation are completed.
How does direct lithium extraction work?
Direct lithium extraction refers to methods that selectively separate lithium from brine, rather than relying primarily on evaporation ponds to concentrate it. Depending on the process, materials such as adsorbents, membranes, or ion-exchange systems may capture lithium, which is then recovered into a usable solution. Performance and environmental effects depend on the specific technology and operating conditions.
How are the Park Place resource estimates divided between its formations?
The release assigns 10,078,000 tonnes of inferred LCE at 79.4 mg/L lithium to the Leduc Formation. It reports 11,603,000 tonnes of inferred LCE at 80.9 mg/L lithium for the Swan Hills Formation. Both figures are described as parts of the Park Place project resource estimate.
Key Highlights:
- Resource Estimates: 10,078,000 tonnes inferred LCE at 79.4 mg/L lithium in the Leduc Formation and 11,603,000 tonnes inferred LCE at 80.9 mg/L lithium in the Swan Hills Formation.
- Sustainable Extraction: The company plans to use environmentally friendly direct lithium extraction (cDLE®) technology, aiming for high recovery rates and purity.
- Economic Impact: This project positions LithiumBank as a significant player in the North American lithium supply chain, potentially aiding the continent’s transition to clean energy.
Clean TeQ Water and our Joint Venture Company, Go2Lithium, are excited to be supporting LithiumBank at the Boardwalk and Park Place projects with our proprietary cDLE® lithium extraction technology.
The full press release from LithiumBank can be viewed here.
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At a glance
- Company
- LithiumBank Resources Corp.
- Location
- Alberta, Canada
Key figures
- Park Place inferred LCE resource
- 21,681,000 tonnes
- Park Place average lithium grade
- 80.2 mg/L
- Leduc Formation inferred LCE
- 10,078,000 tonnes
- Leduc Formation lithium grade
- 79.4 mg/L
- Swan Hills Formation inferred LCE
- 11,603,000 tonnes
- Swan Hills Formation lithium grade
- 80.9 mg/L
