LithiumBank Resources is advancing lithium brine production in western Canada with its flagship project: the Boardwalk lithium brine property.
LithiumBank Resources is an exploration and development company focused on lithium-enriched brine projects in western Canada, where low-carbon-impact and rapid direct lithium extraction (DLE) technology can be deployed. LithiumBank currently holds over 3.2 million acres of potential DLE amenable assets, including 2.82 million acres in Alberta and 326,000 acres in Saskatchewan. LithiumBank’s mineral titles are strategically positioned over known reservoirs that provide a unique combination of scale, grade and exceptional flow rates that are necessary for a large-scale direct lithium brine production.
The company’s 100% owned flagship project is the Boardwalk lithium brine property, located in west-central Alberta, approximately 85 kilometres east of the city of Grande Prairie and 270 kilometres northwest of the city of Edmonton.
The Sturgeon Lake oil and gas field, where Boardwalk’s contiguous 794,509-acre land position overlays, was first discovered in 1952. Since then, various petroleum companies have developed a strong foundation of social and physical infrastructure in the area.
In 2021, LithiumBank completed a 43-101 resource estimate on the project that returned a significant inferred mineral resource estimate of 5.97 million tonnes of lithium carbonate equivalent, making Boardwalk one of the largest known lithium brine resources in North America.
What are the benefits of direct lithium extraction?
- Smaller carbon footprint than traditional extraction methods;
- Less time needed for the lithium extraction process;
- Relatively low Capex and Opex; and
- Reduced use of water during extraction.
LithiumBank is currently preparing a preliminary economic assessment (PEA), which will give the company its first indication of the potential economics surrounding the project, for mid-2022.
LithiumBank’s value creation strategy
- Strategic acquisition and consolidation of high-quality lithium exploration and development assets;
- Established NI 43-101 inferred mineral resource estimate (Boardwalk, June 2021);
- Raised $6.84M at $1.50/share in October 2021;
- Update to NI 43-101 inferred mineral resource estimate at Sturgeon expected in Q3/22;
- Hatch Engineering engaged to select a DLE technology provider to form the basis of a preliminary economic assessment (PEA) Boardwalk inferred mineral resource; and
- PEA expected to be delivered in Q3 2022.
The Boardwalk project represents an enormous opportunity to help fulfil North America’s electric vehicle and storage requirements by providing a significant contiguous lithium brine resource with exceptional infrastructure and tremendous jurisdictional advantages. Recent advances in direct lithium extraction methodologies continue to grow in leaps and bounds, while offering an environmentally friendly solution to the green revolution.
