Leduc Formation

LithiumBank Engages SLB to Conduct Subsurface Reservoir Modelling for Resource Estimation at Park Place Lithium Brine Project, West-Central Alberta

Retrieved on: 
Tuesday, September 5, 2023

The Park Place Project is located approximately 50 kilometres south of the Company’s Boardwalk Project (for which a preliminary economic assessment was recently completed).

Key Points: 
  • The Park Place Project is located approximately 50 kilometres south of the Company’s Boardwalk Project (for which a preliminary economic assessment was recently completed).
  • SLB provides technology solutions along with subsurface engineering services across Alberta and around the globe.
  • LithiumBank has engaged SLB to conduct detailed subsurface reservoir modelling of the Leduc and Swan Hills Formations at the Park Place Project.
  • “We are very pleased to work with SLB on the Park Place lithium-brine project.

LithiumBank Announces Sale of Saskatchewan Projects to Pristine Lithium Corp.

Retrieved on: 
Monday, July 31, 2023

“The strategic sale of our Saskatchewan Assets to Pristine Lithium will expedite the unlocking of our Saskatchewan properties true potential while allowing LithiumBank to maintain a level of ownership of these assets.

Key Points: 
  • “The strategic sale of our Saskatchewan Assets to Pristine Lithium will expedite the unlocking of our Saskatchewan properties true potential while allowing LithiumBank to maintain a level of ownership of these assets.
  • “We look forward to being supportive partners as Pristine becomes the lithium brine leader in Saskatchewan.”
    “With this transaction, we are excited to be taking the first step towards creating a leading lithium brine developer based in Saskatchewan,” commented Nikolas Matysek, CEO of Pristine Lithium.
  • Figure 1: LithiumBank's Saskatchewan lithium brine projects under agreement to be sold to Pristine Lithium.
  • Neighbouring lithium exploration activities, adjacent to the Company’s South property have reported lithium grades ranging between 98 and 172 mg/L lithium.

LithiumBank Signs MOU With Invest Alberta to Develop Commercial Lithium Production Facility at Boardwalk

Retrieved on: 
Wednesday, April 5, 2023

CALGARY, Alberta, April 05, 2023 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to announce it has signed a Memorandum of Understanding (“MOU”) with Invest Alberta to support the development of a commercial lithium production facility at the Company’s Boardwalk brine project (the “Boardwalk Project” or “Boardwalk”) located 85 kilometres east of Grand Prairie, Alberta.

Key Points: 
  • CALGARY, Alberta, April 05, 2023 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to announce it has signed a Memorandum of Understanding (“MOU”) with Invest Alberta to support the development of a commercial lithium production facility at the Company’s Boardwalk brine project (the “Boardwalk Project” or “Boardwalk”) located 85 kilometres east of Grand Prairie, Alberta.
  • “Invest Alberta is a great example of why we believe Alberta is one of the best locations in the world to develop critical mineral resources and electrification supply chains,” commented LithiumBank Executive Chairman Paul Matysek.
  • “This Memorandum of Understanding is an important step for LithiumBank as we aim to make Alberta and Canada global leaders in lithium resource development.
  • “LithiumBank’s commercial lithium production facility in northern Alberta marks a significant step for Alberta as a destination of choice for critical mineral resource development and as a key partner in the electrification supply chain.”
    “Alberta’s economy has momentum and LithiumBank wants to be a part it.

LithiumBank’s Park Place Hydrogeological Study Reports Largest Contiguous Lithium-Rich Brine Project by Volume in North America

Retrieved on: 
Monday, February 27, 2023

Currently the largest reported lithium-rich brine project, by volume, in North America held by a single operator.

Key Points: 
  • Currently the largest reported lithium-rich brine project, by volume, in North America held by a single operator.
  • Leduc Formation brine sample, collected in December 2022 from Park Place, reported 77.2 mg/L lithium ( News Release Jan. 17, 2023 ).
  • The recently completed hydrogeological study indicates that PPLP hosts the largest lithium-bearing brine, by volume, held by a single operator in North America at 76.3 km3 of brine (76.3 B m3).
  • “We are very proud to report the largest reported lithium brine project by volume in North America.

LithiumBank Details Kindersley, Saskatchewan Asset Development Strategy

Retrieved on: 
Tuesday, February 14, 2023

CALGARY, Alberta, Feb. 14, 2023 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to provide a project update and detail the current development strategy for LithiumBank’s Kindersley Lithium Project (“LKLP”) located near Kindersley, Saskatchewan, Canada that makes up part of its Saskatchewan district portfolio of 100% Crown land.

Key Points: 
  • CALGARY, Alberta, Feb. 14, 2023 (GLOBE NEWSWIRE) -- LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to provide a project update and detail the current development strategy for LithiumBank’s Kindersley Lithium Project (“LKLP”) located near Kindersley, Saskatchewan, Canada that makes up part of its Saskatchewan district portfolio of 100% Crown land.
  • The Company’s initial focus for LKLP was to target areas within the Duperow Formation reservoir that had the following characteristics:
    Following these criteria, LithiumBank acquired 111,282 acres of Crown mineral permits.
  • LithiumBank is also encouraged by positive lithium brine sampling results obtained by contiguous operators, and expects to continue to invest in LKLP.
  • LithiumBank plans to further test, sample and analyse the reservoir at LKLP to support an initial Preliminary Economic Assessments (PEA) expected to be completed in H2/23.

LithiumBank to Develop Boardwalk and Park Place Lithium Brine Projects After Successful Acquisition Campaign

Retrieved on: 
Thursday, February 2, 2023

LithiumBank’s successful exploration programmes and geological assessments have identified Boardwalk and Park Place as flagship district scale projects that possess key elements required for potential commercial development.

Key Points: 
  • LithiumBank’s successful exploration programmes and geological assessments have identified Boardwalk and Park Place as flagship district scale projects that possess key elements required for potential commercial development.
  • Additionally, LithiumBank expects to conduct detailed hydrogeological modeling and brine sampling at both Boardwalk and Park Place to further expand and upgrade the classification of their lithium resources to measured and indicated categories.
  • We will soon be completing a further resource estimate at Park Place and await receipt of a PEA of Boardwalk.
  • We are looking forward to a catalyst rich 2023 across our entire lithium brine portfolio.”
    Figure 1: LithiumBank Projects in Western Canada.

Park Place Lithium Brine Project Delivers Up to 82.0 mg/L Li From Initial Sampling

Retrieved on: 
Tuesday, January 17, 2023

The Park Place Lithium Brine Project consists of 1,602,209 acres of contiguous MIM permits (89 MIM permits) that overlie the lithium-rich Devonian aged, Leduc Formation, Carbonate Reef complex (Woodbend Group) and the underlying Beaverhill Lake Group (Swan Hills FM) (Figure 1).

Key Points: 
  • The Park Place Lithium Brine Project consists of 1,602,209 acres of contiguous MIM permits (89 MIM permits) that overlie the lithium-rich Devonian aged, Leduc Formation, Carbonate Reef complex (Woodbend Group) and the underlying Beaverhill Lake Group (Swan Hills FM) (Figure 1).
  • Independent Director, Paul Matysek comments, “We are very pleased to see our first Park Place brine samples reflect lithium grades from historical assays.
  • The Park Place area has historically reported some of the highest-grade lithium brine samples in Alberta and it is very encouraging that our sampling to date confirms that lithium grades at Park Place tend to be higher than typically seen anywhere in Alberta.
  • We look forward to providing further results from additional planned sampling campaigns and incorporating them in a NI 43-101 Resource Estimate.”

LithiumBank Completes Hydrogeological Study and Commences Preparation Of NI 43-101 Technical Report at Kindersley, Saskatchewan

Retrieved on: 
Wednesday, November 9, 2022

The hydrogeological study was carried out by Matrix Solutions Inc. (Matrix).

Key Points: 
  • The hydrogeological study was carried out by Matrix Solutions Inc. (Matrix).
  • Encouraged by two anomalous lithium brine samples collected from the Duperow Formation in 2017 by the Saskatchewan Geological Survey, LithiumBank established a strategic core position in December 2021.
  • The study is a compilation of all available data in the area from historic and ongoing hydrocarbon activities.
  • The purpose of the study is to provide the level of detail required in preparing a NI 43-101 compliant technical report and ultimately, to evaluate the Kindersley Projects potential for future lithium-brine production.

LithiumBank Announces First Known Canada-Based Indicated Lithium Brine Resource Estimate at Boardwalk, Alberta

Retrieved on: 
Monday, November 7, 2022

LithiumBank reports an updated NI 43-101 Indicated & Inferred Resource Estimate from Boardwalk, including 393,000 tonnes Indicated at 71.6 mg/L lithium and 5,808,000 tonnes Inferred LCE at a grade of 68.0 mg/L lithium.

Key Points: 
  • LithiumBank reports an updated NI 43-101 Indicated & Inferred Resource Estimate from Boardwalk, including 393,000 tonnes Indicated at 71.6 mg/L lithium and 5,808,000 tonnes Inferred LCE at a grade of 68.0 mg/L lithium.
  • The Indicated Resource estimate area identified occurs within LithiumBanks intended Production Zone (Figure 1) as defined via a hydrogeological study completed by Matrix (NR October 13, 2022).
  • The brine samples enabled LithiumBank to independently validate the lithium brine content of historical brine samples collected between 2010-2019.
  • Table 1 Boardwalk Leduc Formation Li-brine NI 43-101 indicated & inferred resource estimate presented as a global (total) resource.

LithiumBank Reports Up to 60X Grade Increase and Production of High Purity Lithium Concentrate From DLE Test Work at the Boardwalk Lithium Brine Project, Alberta, Canada

Retrieved on: 
Tuesday, November 1, 2022

Test work results indicate the selected DLE technology to be a highly effective and scalable method of extracting lithium chloride from the Boardwalk brine.

Key Points: 
  • Test work results indicate the selected DLE technology to be a highly effective and scalable method of extracting lithium chloride from the Boardwalk brine.
  • Testing produced a lithium concentrate with a range between 35-60 times grade increase over the initial raw lithium brine concentration level.
  • Boardwalk raw brine characteristics prove to be well-suited in terms of temperature, pH, grade, impurities with the DLE Ion Exchange method.
  • LithiumBank engaged Conductive Energy Inc. (Conductive) from Alberta, Canada to test their proprietary Direct Lithium Extraction (DLE) technology using brine collected from the Leduc Formation at the Boardwalk project.