12/31/2023 0 Comments Red swan pizza leduc![]() Rob Shewchuk, CEO states, “ We are very proud to conclude our 3-year staking and acquisition strategy in Western Canada with the goal to aggregate the largest land position in areas we believe to have the most commercial potential for large scale lithium brine production. Results of the study are expected next quarter. ![]() to conduct a hydrogeological study on the Companies Brine Mineral Leases. LithiumBank has engaged Matrix Solutions Inc. Acquisitions in Saskatchewan are in areas where there is known grades of lithium in brine that are of interest. LithiumBank is currently evaluating the next steps for this property.Īs previously disclosed, a total of 326,459 acres of Saskatchewan Brine Mineral Leases were acquired by way of auction through the Saskatchewan government between August and December of 2021. The permits cover a strike length of 30 km of the Leduc with abundant oil and gas infrastructure. The four MIM permits over a portion of the Leduc Reef complex, have historically been one of the most prolific producers of hydrocarbons for several decades. The Company has also acquired a strategic land position in the Peace Arch area of northern Alberta totalling 73,610 acres (Figure 1). The report highlights significant lithium potential in three different formations, the Nisku (Winterburn), Leduc (Woodbend), and Swan Hills (Beaverhill Lake Group) and are supported by historical lithium brine samples that range from 76 mg/l to 130 mg/l lithium in these formations. Berhane, entitled “Geological Introduction to Lithium-Rich Formation Water with Emphasis on the Fox Creek Area of West-Central Alberta (NTS 83F and 83K)” ( ). The Fox Creek area was the focus of a study, authored by D.R. LithiumBank will continue to make announcements as news becomes available as Fox Creek is explored and developed in parallel to the Boardwalk Project. LithiumBank expects to implement a systematic exploration and development program that is well established within the Company from work completed on the Boardwalk Project, in the Sturgeon Lake area located only 50 km to the north of the Fox Creek Property. These samples are considered historic and have not been verified by a Qualified Person (QP) under the latest NI 43-101 Standards of Disclosure and cannot be relied upon and thus the Company is not treating the historical estimate as current mineral resources or mineral reserves. Historical samples collected by multiple petro-operators and donated to the Alberta Geological Survey, range from 76 mg/l to 130 mg/l lithium (Figure 2) are located within LithiumBank’s Fox Creek Metallic and Industrial Mineral permit area. The Fox Creek land acquisition is strategic for LithiumBank as the Leduc Carbonate Reef Complex (Woodbend Group) and the underlying Swan Hills Carbonate Complex (Beaverhill Lake Group) have historically been known to host the highest grades of lithium-in-brine concentrations in Alberta. The additional permits give LithiumBank a dominant land position in the Fox Creek area, for a total of 1,361,007 contiguous acres. ![]() The total MIM permits (Alberta), and Mineral leases (Saskatchewan) currently held by LithiumBank are 3.77 million acres, or 1.52 million hectares as shown in Table 1 and Figure 1. Additional Metallic and Industrial Mineral (MIM) Permits were acquired directly from the government of Alberta. LithiumBank has increased its land position over the past month by over 530,000 acres with a strategic focus on Fox Creek, Leduc reef area (Figure 1). ( TSX-V: LBNK) (OTCQX:LBNKF) (“ LithiumBank” or the “ Company”) is pleased to provide an update on its lithium-brine land holdings in Alberta and Saskatchewan. 13, 2022 (GLOBE NEWSWIRE) - LithiumBank Resources Corp.
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