E3 Lithium (TSXV: ETMC) has kicked off drilling at its first lithium evaluation well in Alberta.
The well will be completed in E3’s Clearwater Project area, east of the Town of Olds, Alberta. Drilling operations are expected to be completed by mid-July.
Following drilling, a service rig will be moved onsite to commence testing of the formation to verify brine chemistry and flow rates.
The lithium concentrations and production testing help validate E3’s geological model and supports the upgrade of its resource to Indicated and Measured. This work will support commercial development and the basis for the Pre-Feasibility Study (PFS).
“We are very excited about drilling and completing the first well in Alberta specifically targeting lithium,” CEO, Chris Doornbos, said.
“We are working with a local Alberta company, CWC Energy Services’ drilling division, Ironhand, using a conventional oil and gas drill rig. This is an example of the benefits of operating in Alberta; having the ability to mobilize local equipment operated by local Albertans.”
About E3 Lithium
E3 Lithium is a development company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of US$1.1 Billion with a 32% IRR pre-tax and US$820 Million with a 27% IRR after-tax.
Through the successful scale up its DLE technology towards commercialisation, E3 Lithium’s goal is to produce high purity, battery grade lithium products. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world.
