E3 Lithium Ltd. [TSXV: ETL; FSE: OW3; OTCQX: EEMMF], reported an updated mineral resource report for its Garrington District Project in central Alberta. The NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate outlines an updated Measured and Indicated mineral resource estimate of 5.0 million tonnes (Mt) of lithium carbonate equivalent (LCE).
Highlights: The Garrington District includes 273,449 hectares of land. Measured and indicated mineral resource estimate is 5.0 Mt LCE. Inferred mineral resource estimate is 0.3 Mt LCE. E3 Lithium’s total Measured and Indicated mineral resources in Alberta is now 21.2 Mt LCE.
The Garrington District is located in south-central Alberta directly southwest of the city of Edmonton at the north end, and it extends southwest of Edmonton to the town of Sundre. Within the Garrington District, the company’s brine-hosted mineral rights cover approximately 155,236 hectares, leased from the Crown, with the remaining area being unleased freehold mineral rights.
The lithium concentrations on or near E3 Lithium’s Land holdings range from 45 mg/L to 61 mg/L, with an average of 54mg/L. The property sits directly to the west of E3 Lithium’s Bashaw District where the company is currently developing its Clearwater Project. Similar to the Bashaw District, the Garrington District lithium brine deposit is hosted in the carbonate reef complex deposits of the Leduc Formation.
“Alberta’s lithium resources stand out globally as some of the most significant in size, thanks to the scale of the brine aquifers in the province,” said Chris Doornbos, President and CEO of E3 Lithium. “The resource update in the Garrington District highlights a separate region containing vast volumes of lithium-enriched brines to the west of our existing Bashaw District resources. E3 Lithium continues to focus our efforts on the development of the Clearwater Project and the additional Garrington resources expand our sizable inventory for long-term value creation.”
Garrington District Brine Resource Estimate: The Garrington Report follows from the NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, which included a small subsection of the area encompassed in the Garrington Report. The Garrington mineral resource estimate has been calculated across the Garrington Lithium District.
With the updated Garrington Resource Estimate, E3 Lithium’s total Measured and Indicated lithium resources in Western Canada are now in excess of 21 Mt LCE with an additional 2.9 Mt of Inferred resources. Included in this number is approximately 1.13 Mt of Proven and Probable mineral reserves in the Bashaw District that provide the basis for the Clearwater Project currently under development and outlined in the Pre-Feasibility Study published in July 2024.
E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated as well as 0.3 Mt LCE Inferred mineral resources in Alberta and 2.5 Mt LCE Inferred mineral resources in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of US$5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR.
