Impact: Mildly Positive
E3 Lithium reported brine sampling results from six well locations in the Nisku aquifer, within its 100%-owned Clearwater project area in Alberta. Results returned up to 87 mg/L Li, which are higher than the historic grades (75 mg/L) in the Nisku aquifer, as well as the current grade of ~73 mg/L from its M&I+I resources in the Leduc aquifer (read note). We believe this is a positive development and while further work needs to be completed to evaluate the potential from this aquifer, down the line, it could be added to the current resource base and support additional production at Clearwater. Pilot plant operations are still underway at Clearwater and per the last update, the company plans to test three different types of technology; its own as well as technology from two other vendors (read notable). Data from the pilot plant will feed into the upcoming PFS, which is scheduled for H2/24.
