Announcement Date: 2022-12-21
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: LithiumBank Resources Corp.
Project name: Boardwalk
Location: Canada
Commodities: Lithium
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: This Technical Report has been prepared for the Issuer, LithiumBank Resources Corp. (LithiumBank or the Company). LithiumBank has acquired 100% minerals interest in 8 separate lithium-brine (Li-brine) properties in west-central Alberta: Boardwalk, Valleyview, Swan Hills, Kakwa Area, Valhalla Area, Fox Creek Area, Simonette, and Nipisi Area (135 mineral permits totalling 1,145,385 hectares). This Technical Report focuses on the Boardwalk Property (formerly called the Sturgeon Lake Property), for which LithiumBank is assessing Late Devonian aquifers associated with carbonate reef buildups in the Leduc Formation of the Woodbend Group (the Sturgeon Lake Reef Complex) for their Li-brine potential. Access to the deep-seated confined aquifer Li-brine at the Boardwalk Property is from oil and gas wells that have pumped the brine from depths of more than 2,350 m to the earth’s surface – essentially as wastewater associated with hydrocarbon products. Once the petroleum is extracted the brine is reinjected, back down into its original Devonian aquifer. Hence, there is an opportunity to recover lithium from the brine circuit by a Direct Lithium Extraction technological process. During 2021, LithiumBank formed an access agreement with a petro-company to reopen suspended oil
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