Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.

LithiumBank, a Canadian business journal, increases its lithium brine land position to more than 530,000 acres in Alberta and Saskatchewan.

Calgary, Alberta, September 13, 2022 (GLOBE NEWSWIRE) — Lithium Bank Resources Corporation (TSX-V: LBNK) (OTCQX:LBNKF) (“lithium bank” or “Company) is pleased to provide the latest information on lithium brine land located in Alberta and Saskatchewan.

LithiumBank expanded its land location by more than 530,000 acres in the past month, with a strategic focus on the Leduc Reef area of ​​Fox Creek (Figure 1). Additional Metals and Industrial Minerals (MIM) Permits were obtained directly from the Government of Alberta. As shown in Table 1 and Figure 1, Lithium Bank currently owns 3.77 million acres (1.52 million ha) of MIM permits (Alberta) and mining leases (Saskatchewan). Additional permits allow Lithium Bank to gain a dominant land position in the Fox Creek area. , totaling 1,361,007 contiguous acres.

The Fox Creek land acquisition has resulted in the Leduc Carbonate Reef Complex (Woodbend Group) and the underlying Swan Hills Carbonate Complex (Beaverhill Lake Group) historically hosting some of the highest saltwater concentrations of lithium in Alberta. Strategic for LithiumBank as it is known to Historical samples collected by multiple oil companies and donated to the Alberta Geological Survey show lithium ranging from 76 mg/l to 130 mg/l (Figure 2), LithiumBank’s Fox Creek Metals and Industrial Minerals. It is within the permitted area. These samples are considered historical, have not been verified by a Qualified Person (QP) under the latest NI 43-101 Disclosure Standard, and are unreliable; It is not treated as reserves. Lithium Bank expects to implement a well-established and systematic exploration and development program within the company from the work completed on the Boardwalk project in the Lake Sturgeon area, located just 50km north of the Fox Creek property. doing. Lithium Bank will continue to make announcements as news becomes available as Fox Creek is being researched and developed in parallel with the Boardwalk project.

The Fox Creek region was published by Dr. Eccles and H. Berhane, entitled “A Geological Introduction to Lithium-Rich Formation Waters with an Emphasis on the Fox Creek Region of Midwestern Alberta (NTS 83F and 83K)”. It was the focus of my research. https://ags.aer.ca/publication/ofr-2011-10). This report highlights the significant lithium potential in three different formations: Nisku (Winterburn), Leduc (Woodbend) and Swan Hills (Beaverhill Lake Group), with concentrations ranging from 76 mg/l to 130 mg/l. Backed by a range of historical lithium brine samples. Lithium in these formations.

The company also acquired strategic land totaling 73,610 acres in the Peace Arch district of northern Alberta (Figure 1). His four MIM permits, part of the Leduc Reef complex, have historically been one of the most hydrocarbon-producing sites for decades. The permit covers Leduc’s 30 km strike length with its extensive oil and gas infrastructure. LithiumBank is currently evaluating next steps for this property.

As previously disclosed, the Saskatchewan Brine Minerals Lease totaling 326,459 acres was acquired by auction through the Government of Saskatchewan between August and December 2021. LithiumBank contracted Matrix Solutions Inc. to conduct a hydrogeological study for Brine Mineral Leases. The survey results will be published next quarter.

Rob Schuchuk, CEO, said:We are very proud to complete our three-year staking and acquisition strategy in Western Canada, with the goal of consolidating the largest land locations in areas where we believe the commercial potential for large-scale lithium brine production is highest. We have successfully consolidated the Sturgeon Lake Complex for the Boardwalk Project and have obtained most mining permits in the future Fox Creek area. We also acquired a mineral lease at auction in Saskatchewan in 2021. Lithium Bank is very much looking forward to initiating the next steps in valuing its properties in Fox Creek and Saskatchewan. It leverages a strong technology foundation from its collaboration with Hatch, Apex and Matrix Solutions on Boardwalk Lithium Brine. This is a project that will produce a PEA in Q4. “

Table 1. LithiumBank Mineral Permits and Lease Holdings

Figure 1. Map of all LithiumBank Mineral Permits and Leases

Map of all LithiumBank mineral permits and leases

Figure 2. LithiumBank’s Fox Creek MIM permission using historical samples

LithiumBank's Fox Creek MIM Allowed Using Historical Samples

The scientific and technical disclosures in this news release were reviewed and approved by Kevin Peepgrass, Chief Operations Officer, LithiumBank Resources Corp., Member of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) . Piepgrass agrees to include the data in the format and context in which it appears.

About Lithium Bank Resources

LithiumBank Resources Corp. is an exploration and development company focused on lithium-enhanced brine projects in Western Canada, where low carbon impact, rapid DLE technology can be deployed. LithiumBank currently holds over 3.7 million acres of mineral ownership, including 3.44 million acres in Alberta and 326,000 acres in Saskatchewan. LithiumBank’s mineral titles are strategically positioned over known reservoirs that offer a unique combination of size, grade and exceptional flow rates required for large-scale direct brine lithium production. LithiumBank is de-risking several projects in parallel with the Boardwalk Lithium Brine Project.


Robert Shuchuk
Representative Director and President
[email protected]
(778) 987-9767

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release..

Cautionary Note Regarding Forward-Looking Statements

This release contains certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements made in this news release other than statements of historical fact. including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including expectations that the Company will undertake a systematic exploration and development program; is not limited to Projections in the Sturgeon Lakes area, located 50 kilometers north of the Fox Creek property, are forward-looking statements and contain forward-looking information. In general, forward-looking statements and information refer to the use of forward-looking terms such as “intends” or “anticipates” or variations of such words or phrases or that certain actions, events or results may occur. It can be identified by the use of the statement “may be”. believe, can, should, will, or will occur. Forward-looking statements are based on certain material assumptions and analyzes made by the Company and management’s opinions and estimates as of the date of this press release. 50 km north of Fox Creek property. These forward-looking statements involve known and unknown risks, uncertainties, and our actual results, level of activity, performance or achievements, either expressed or implied by such forward-looking statements. are subject to other factors that can cause them to differ significantly. forward-looking information. Significant factors that could cause actual results to differ include the Company’s systematic exploration and development program in the Sturgeon Lakes area, located 50 km north of the Fox Creek property, in line with management expectations. including, but not limited to, no performance or no performance at all. The Company’s management has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements or information contained in the forward-looking statements; , or there may be other factors that cause it to differ from that intended. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those projected by such statements. You should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be suitable for other purposes. We do not undertake to update any forward-looking statements, forward-looking information or financial prospects incorporated herein by reference, except in accordance with applicable securities laws.

Photos accompanying this announcement are available at:




CBJ Newsmaker

LithiumBank, a Canadian business journal, increases its lithium brine land position to more than 530,000 acres in Alberta and Saskatchewan.

Source link LithiumBank, a Canadian business journal, increases its lithium brine land position to more than 530,000 acres in Alberta and Saskatchewan.

Related Articles

Back to top button