Lithium is running into a severe supply-demand situation. All thanks to electric vehicle (EV) demand growing much faster than anyone expected. “By 2030, the world will see 125 million EVs on the road, which will only drive further demand for lithium supply. In fact, “It is anticipated demand for vehicle battery metal will increase sharply over the next several years as automakers abandon internal combustion engines for EVs,” says Resource World. That’s great news for companies, like E3 Metals Corp. (TSXV:ETMC)(OTC:EEMMF), Albemarle Corporation (NYSE:ALB), Lithium Americas (NYSE:LAC)(TSX:LAC), American Lithium Corp. (TSXV:LI)(OTC:LIACF), and Piedmont Lithium (NASDAQ:PLL).
Even the International Energy Agency just warned, “The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met. (Source 3) At least 30 times as much lithium, nickel and other key minerals may be required by the electric car industry by 2040 to meet global climate targets.”
Look at E3 Metals Corp. (TSXV:ETMC)(OTC:EEMMF), for example
E3 Metals Corp., an emerging lithium developer and leading direct lithium extraction (DLE) technology innovator, is pleased to provide an update on the expansion of its Aquifer Management Plan (AMP). The expansion of the AMP will provide a basis for the completion of a NI 43-101 report and is expected to include an upgrade of a portion of the Company’s resource to Measured and Indicated. This is a critical step towards the development of E3 Metals’ Prefeasibility Study (PFS).
E3 Metals’ AMP is an essential part of promoting the Clearwater Project’s resource longevity. Aquifer modelling helps predict the aquifer’s key characteristics and productivity by better understanding the geology and the movement of lithium-enriched brine in the subsurface.
Following the update outlined in the November 24, 2020 press release, the Company is now in the process of expanding the data in the AMP to increase the predictability of brine flow in the aquifer. This work will enable intelligent well network planning that promotes efficient brine production and minimal surface impact. The majority of the data required, including core and seismic, is available from the development of historic oil and gas production in the area.
Next Steps for E3 Metals’ Aquifer Management Plan
Leveraging the existing exploration and geological work completed in the area through previous hydrocarbon development, the Company has conducted petrophysical analysis that further characterizes the rock properties that directly impact brine flow. In parallel to this work, the Company has begun reviewing additional Leduc Aquifer core samples from E3 Metals’ permit area at Calgary’s Core Research Centre. The Company’s geologists have been detailing the core samples from across the area to enhance their understanding of the rock properties. These results are being connected and integrated with the petrophysical analysis to better predict aquifer characteristics across the expanded AMP area.
Once this evaluation is complete, E3 Metals plans to select critical areas for seismic evaluation. Similar to the rock samples, seismic data is readily available in the area from historical hydrocarbon exploration. E3 Metals plans to purchase, process, and interpret existing seismic data to verify regional aquifer thickness, support rock property mapping and help identify important structural features.
In conjunction with the geological evaluations, the Company also plans to begin production testing in the aquifer to evaluate brine samples away from hydrocarbon production and evaluate flow rates.
“We have been appraising the expansion of the Aquifer Management Plan for some time and we are really excited to kick things off”, commented Liz Lappin, VP Corporate Affairs & Exploration. “The expanded subsurface team is laser focused on this important part of E3’s development plan and I’m very pleased with the progress to date.”
Other related developments from around the markets include:
Albemarle Corporation, a leader in the global specialty chemicals industry, announced that it will release its 2020 Sustainability Report on Wednesday, June 2.. The company will also host a webcast on Thursday, June 3, at 10:00 a.m. EDT with CEO Kent Masters and CFO Scott Tozier, who will present an update on Albemarle’s sustainability initiatives. This year’s Sustainability Report will map out meaningful and achievable targets for greenhouse gas and water use and Albemarle’s priorities that support the United Nations Sustainable Development Goals.
Lithium Americas provide an update on the Caucharí-Olaroz lithium project in partnership with Ganfeng Lithium Co., Ltd. in Jujuy province, Argentina. The Caucharí-Olaroz Partners have approved the commencement of development planning for a second stage expansion of at least an additional 20,000 tonnes per annum of lithium carbonate equivalent production capacity from Caucharí-Olaroz. “Caucharí-Olaroz is on track to become the largest new lithium brine operation in over 20 years,” commented George Ireland, Chairman of Lithium Americas, “With construction for Stage 1 expected to be complete within the next year, together with Ganfeng Lithium, we are beginning to plan our next phase of growth in Argentina.”
American Lithium Corp. and Plateau Energy Metals Inc. just announced the completion of the acquisition by American Lithium of all of the issued and outstanding common shares of Plateau by way of a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario). The Arrangement became effective as of 12:01 a.m. (Toronto time) on May 11, 2021 resulting in Plateau becoming a wholly-owned subsidiary of American Lithium.
Piedmont Lithium advised that the scheme of arrangement to give effect to the re-domiciliation of Piedmont Lithium Limited from Australia to the United States of America has been implemented. All Piedmont Australia shares have been transferred to Piedmont. The Scheme consideration, comprising Piedmont CDIs and Piedmont shares, has been issued to Piedmont Australia shareholders and Piedmont Australia ADS holders respectively, other than ineligible foreign shareholders and small parcel holders who did not make an election.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for E3 Metals Corp. by E3 Metals Corp. We own ZERO shares of E3 Metals Corp. Please click here for full disclaimer.