This illustration is an example of how E3 would extract the lithium from the fluids found in oil and gas production or from lithium enriched water underground. Image: E3

Calgary company sets sights on lithium near Bashaw

E3 Metals purchases Bashaw Permit Area in hopes of extracting lithium

Oil and gas may be the big resource in the region, but it isn’t the only one companies are after.

The Calgary-based E3 Metals Corporation has finalized an agreement to take over the interest of what is called the Bashaw Permit Area from Alberta’s Fathom Minerals. The deal consists of the mineral rights and all of the technical data and reports in exchange for $35,000 and 350,000 common shares.

A Dec. 6 press release noted that E3 has already conducted sampling of wells in the region and found enough of what it was looking for to complete the agreement.

E3 Metals president and CEO Chris Doornbos explained the deal gives the company the exclusive mineral rights for lithium in three areas in the region surrounding Bashaw, Lacombe and Red Deer.

“Our goal now, over the next year, is to work on developing the needed extraction technology to allow us to get the lithium out and into a viable product form,” he said.

Doornbos added that they are working on their own, and in partnership with other companies, plus the University of Alberta, on developing testing and a process for producing a lithium concentrate.

“It’s similar to mining production, but a bit different as lithium extraction is an emerging technology. Once we come up with the concentrate process, we will refine the product in to lithium carbonate or lithium hydroxide — both products that are used in batteries. There are refinement options out there, but we are also looking into what might be the more efficient process for our needs.”

It’s that commercial production and application that has Doornbos excited about the deal, knowing E3 has access to close to 600,000 hectares of mineral rights with a reportedly 2.8 million tonnes of Lithium Carbonate Equivalent.

E3 Metals is on the Toronto Stock Market venture exchange (TSX-V: ETMC) and began operation last May. It was previously known as Savanah Gold Corp., but changed course to pursue other mineral resources.

Since the change, E3 has reached agreements with several oil and gas companies to sample wells within its Exshaw property region of more than 580,000 hectares, where it has reportedly concluded there is at least 2.8 million tonnes of Lithium Carbonate Equivalent.

The company believes that is enough Petro-Lithium brine to develop an annual 50,000 tonne production project that could operate for more than 35 years.

Just Posted

Four Maskwacis residents charged with 38 crimes Nov. 9

Maskwacis RCMP: four arrested following armed robbery, pursuit and home invasion

Ponoka Broncs fall to Wetakiwin in final home match

Five graduating players honoured, recognized for their contributions

Almost Midnight Madness almost upon us

It’s the most magical night of the year — if you like… Continue reading

‘We love you, Alex!’: Trebek gets choked up by ‘Jeopardy!’ contestant’s answer

The emotional moment came in Monday’s episode when Trebek read Dhruv Gaur’s final answer

Petition to ‘bring back Don Cherry’ goes viral after immigrant poppy rant

Cherry was fired from his co-hosting role for the Coach’s Corner segment on Nov. 11.

Imperial CEO says no to Aspen oilsands project until Alberta oil quotas gone

Imperial confirmed a plan to boost production from its Kearl oilsands mine

Three men charged after ‘targeted’ shooting, evacuation at Alberta mall

The accused, who range in age from 25 to 37, were arrested Sunday and remain in custody

Ponoka RCMP seeking public assistance in locating missing person

Ponoka RCMP is seeking the public’s assistance in locating 13 year old… Continue reading

VIDEO: Don Cherry says he was fired, not sorry for ‘Coach’s Corner’ poppy rant

Cherry denies he was singling out visible minorities with his comments

Disney Plus streaming service hits Canada with tech hurdles

Service costs $8.99 per month, or $89.99 per year, in Canada

Trudeau’s opponents: One gives him an earful, another seeks common ground

PM meets with Conservative leader Andrew Scheer and Saskatchewan Premier Scott Moe

Most Read