| Announcement Date: | 2022-08-23 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | NI43-101 |
| Company name: | E3 Lithium Ltd. |
| Project name: | Bashaw |
| Location: | Canada |
| Commodities: | Lithium |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | E3 Lithium (E3 or the Company), an emerging lithium developer and leading lithium extraction technology innovator, is a public company with a head office located in Calgary, Alberta. The company trades on the Toronto Venture Exchange, as well as the OCT and Frankfurt markets (TSXV: ETL | FSE: OU7A | OTCQX: EEMMF). The purpose of this technical report update is to incorporate the results of recent sampling programs and combine the Exshaw and Clearwater resource areas into a single, larger resource area (the Bashaw District [BD]), reflecting updated E3 mineral leases and agreements. E3 updated the reservoir conceptualization and improved the volumetric calculation based on additional data review and technical analysis (geological data, such as petrophysical modeling leveraging Flow Zone Indicator (FZI) methodology, and additional core description work). Additionally, E3 has removed the production factor cut-off used in previous assessments, as it is a “modifying factor” to be used for reserves estimation and does not impact the initial resource estimates. |
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