E3 Lithium Outlines an Inaugural Measured and Indicated Mineral Resource Estimate of 5.0 Mt LCE for the Garrington District
CALGARY, Alberta, June 25, 2025--(BUSINESS WIRE)--E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), "E3 Lithium" or the "Company," a leader in Canadian lithium, is pleased to release an updated mineral resource report for its Garrington District in central Alberta. The NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate (the "Garrington Report") outlines an updated Measured and Indicated mineral resource estimate of 5.0 million tonnes ("Mt") of lithium carbonate equivalent ("LCE").
Highlights:
The Garrington District includes 273,449 hectares of land
Measured and Indicated mineral resource estimate of 5.0 Mt LCE
Inferred mineral resource estimate of 0.3 Mt LCE
E3 Lithium's total Measured and Indicated mineral resources in Alberta is now 21.2 Mt LCE
The Garrington District is located in south-central Alberta directly southwest of the city of Edmonton at the north end, and it extends southwest of Edmonton to the town of Sundre (Figure 1). Within the Garrington District, the Company's brine-hosted mineral rights cover approximately 155,236 hectares, leased from the crown, with the remaining area being unleased freehold mineral rights. The lithium concentrations on or near E3 Lithium's Land holdings range from 45 mg/L to 61 mg/L, with an average of 54mg/L. The property sits directly to the west of E3 Lithium's Bashaw District where the Company is currently developing its Clearwater Project. Similar to the Bashaw District, the Garrington District lithium brine deposit is hosted in the carbonate reef complex deposits of the Leduc Formation.
"Alberta's lithium resources stand out globally as some of the most significant in size, thanks to the scale of the brine aquifers in the province," said Chris Doornbos, President and CEO of E3 Lithium. "The resource update in the Garrington District highlights a separate region containing vast volumes of lithium-enriched brines to the west of our existing Bashaw District resources. E3 Lithium continues to focus our efforts on the development of the Clearwater Project and the additional Garrington resources expand our sizable inventory for long-term value creation."
The disclosure in this news release of scientific and technical information pertaining to the Garrington District has been reviewed and approved by Meghan Klein, P.Eng., Head of Reservoir Engineering, Americas of Sproule ERCE, and Alexey Romanov, PhD., P.Geo., Principal Geoscientist of Sproule ERCE. Both Ms. Klein, and Mr. Romanov are "Qualified Person's" as defined under NI 43-101– Standards of Disclosure for Mineral Projects.
The technical report will be available on the Company's website (www.e3lithium.ca/technical-reports/) and SEDAR (www.sedar.com) within 45 days of this announcement.
Garrington District Brine Resource EstimateThe Garrington Report follows from the NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, which included a small subsection of the area encompassed in the Garrington Report. The Garrington mineral resource estimate has been calculated across the Garrington Lithium District and was developed as outlined below.
First, data compilation and review of existing reports within the Garrington Lithium District were conducted. Then, a reservoir depositional framework was developed based on core descriptions and lithofacies analysis. Thirdly, petrophysical modeling on geophysical wireline logs, validated against core analysis where possible, was performed. Finally, geological models were generated and leveraged for reservoir volume calculations.
The updated mineral resource estimate for the Garrington District is summarized in the table below. The mineral resource estimate is categorized as Measured, Indicated, and Inferred depending on geological confidence.
Table 1: E3 Lithium's Garrington District Brine Resource Estimates
Resource Category1
Brine Volume (m3)
Weighted Average
Li Grade (mg/L)2
OLIP (t Li)3
OLIP (t LCE) 3
Measured
560,000,000
55
30,000
163,000
Indicated
17,005,000,000
54
905,000
4,817,000
Total Measured & Indicated
17,565,000
54
935,000
4,980,000
Inferred
1,485,000,000
42
60,000
319,000
1.
The Intervals reported follow the following definitions: Measured - evidence is sufficient to confirm geological, and grade or quality continuity between points of observation; Indicated - evidence is sufficient to assume geological, and grade or quality continuity between points of observation and Inferred - evidence is sufficient to imply but not verify geological, grade or quality continuity.
2.
Based on LCE tonnage.
3.
Brine Resource estimates are inclusive of unleased freehold mineral rights.
The mineral resource estimate was completed by a multi-disciplinary team led by E3 Lithium and supervised by Meghan Klein and Alexey Romanov of Sproule ERCE, acting as Qualified Persons using volumetric analysis based on geological parameters of reservoir geometry, effective porosity, permeability, and dissolved lithium concentrations. The mineral resource estimate benefited from a considerable amount of data compiled by the oil and gas industry and made public by the Government of Alberta. Key data sets used to determine reservoir brine parameters in the resource area include core plug analyses (porosity and permeability), and wireline logs geological and petrophysical interpretation (stratigraphic tops, lithology, volume of shale, and porosity).
To calculate the brine volume for each zone within the Leduc Formation, the brine volume was exported from the geological model, incorporating three district brine saturations. The brine volume is multiplied by the lithium grade to calculate the Original Lithium in Place (OLIP) in tonnes of elemental lithium and in tonnes of lithium carbonate equivalent.
Resource categorization reflects the confidence in both the data sets and the interpretations. Measured resources exist within the conceptual development area and are restricted to volumes exceeding a 6% porosity cut-off within a single connected geobody volume with lithium grade measurements. Indicated resources exist across the Garrington District and are restricted to volumes exceeding a 2% porosity cut-off within a single connected geobody with lithium grade measurements. Inferred resources make up all geobody volumes above the 2% porosity cut-off.
With the updated Garrington Resource Estimate, E3 Lithium's total Measured and Indicated lithium resources in Western Canada are now in excess of 21 Mt LCE with an additional 2.9 Mt of Inferred resources. Included in this number is approximately 1.13 Mt of Proven and Probable mineral reserves in the Bashaw District that provide the basis for the Clearwater Project currently under development and outlined in the Pre-Feasibility Study published in July 2024.
Table 2: E3 Lithium's Total Lithium Brine Reserves and Brine Resources
Lithium Carbonate Equivalent (tonnes)
Average
Lithium Grade (mg/L)
Brine Reserves
Brine Resources1
District (Province)
Proven &
Probable
Measured
Indicated
Measured & Indicated
Inferred
Measured & Indicated
Inferred
Bashaw (AB)
1,137,850
6,687,200
9,530,900
16,218,100
N/A
75
N/A
Garrington (AB)
N/A
163,000
4,817,000
4,980,000
319,000
54
42
Estevan (SK)
N/A
N/A
N/A
N/A
2,545,000
N/A
98
Total
1,137,850
6,850,200
14,347,900
21,198,100
2,864,000
1. Brine Resources are reported using the 2014 CIM definition standards, and are inclusive of those Brine Resources converted to Brine Reserves. Brine Resource estimates are inclusive of unleased freehold mineral rights.
ON BEHALF OF THE BOARD OF DIRECTORSChris Doornbos, President & CEOE3 Lithium Ltd.
About E3 Lithium
E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.3 Mt LCE Inferred mineral resources2 in Alberta and 2.5 Mt LCE Inferred mineral resources3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR1.
1: The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium's website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).
2: The mineral resource NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate, effective June 25, 2025, identified 5.0 Mt LCE (measured and indicated) and 0.3 Mt LCE (inferred) and will be available on the E3 Lithium's website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca) within 45 days of this news release.
3: The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is available on the E3 Lithium's website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).
Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained on this news release.
Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as "believe", "may", "will", "plan", "expect", "anticipate", "estimate", "intend", "project", "potential", "possible", "could" and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the Garrington Report, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the mineral resource estimate at the Garrington District; timing of the availability and filing of the Garrington Report; the potential for future development and inventory expansion of the Clearwater Project and value creation; and the anticipated benefits of the foregoing. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that the Garrington Report will be delivered on the expected timeline and will not contain any material variations to the information contained in this news release; that activities relating to the Garrison District and the Company's other projects will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; ; that the current price and demand for lithium will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Garrington District will be obtained in a timely manner and on acceptable terms; the continuity of the price of lithium; that the results of the mineral resource estimate will be delivered in a timely manner consistent with the Company's projected timelines; and that the results will be in line with management's expectations.
All forward-looking information (including future-orientated financial information) is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company's lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; risks related to the results of the testing program not being in delivered in a timely manner and/or not being in line with management's expectations; competitive risks and the availability of financing, as described in more
detail in our recent securities filings available under the Company's profile on SEDAR+ at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250624119325/en/
Contacts
E3 Lithium - Investor and Media Relations Rob KnowlesInvestor Relationsinvestor@e3lithium.ca 587-324-2775
E3 Lithium - Media Inquiries Kati DolyniukExternal Relationscommunications@e3lithium.ca 587-324-2775
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
27 minutes ago
- Bloomberg
British Columbia's $183 Billion Fund Inks 45 Deals in Six Months
British Columbia Investment Management Corp. signed 45 deals during the past six months as the pension fund manager exploits the uncertainty in the market. 'All our asset classes are below the target allocations and have room to deploy,' Ramy Rayes, executive vice president of investment strategy and risk, said in an interview. 'While others might be stalling, we see good opportunities and good value too.'
Yahoo
27 minutes ago
- Yahoo
Clearmind Medicine Enrolls First Patient in its Clinical Trial for Alcoholism Treatment
CMND-100 has the potential to provide an innovative and advanced treatment option for hundreds of millions of people around the world afflicted with Alcohol Use Disorder Vancouver, Canada, June 25, 2025 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) ('Clearmind' or the 'Company'), a clinical-stage biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, recently announced the enrollment of the first patient in its Phase I/IIa clinical trial for CMND-100, the Company's proprietary MEAI-based oral drug candidate for the treatment of Alcohol Use Disorder (AUD). The first patient was enrolled at Yale School of Medicine's Department of Psychiatry, marking a significant milestone in the trial. The trial is evaluating the safety, tolerability, and pharmacokinetic profile of CMND-100, with preliminary efficacy assessments to explore its potential in reducing alcohol cravings and consumption. This first-in-human study represents a pivotal step toward developing a groundbreaking treatment for individuals struggling with AUD. Eligible subjects for the clinical trial, among others, are individuals aged 18 to 60. Participants may be either non-treatment-seeking individuals who report heavy binge drinking (defined as at least five standard drinks in a day for men or at least four for women) on at least five days in the past month prior to screening, or treatment-seeking individuals diagnosed with Alcohol Use Disorder (AUD) per DSM-5 criteria, who report at least four binge drinking days in the month prior to screening. All subjects must express a desire to reduce or stop drinking. For more information: Dr. Adi Zuloff-Shani, CEO of Clearmind Medicine said:'This advancement brings us one step closer to offering an innovative solution for those affected by AUD, a condition with significant unmet medical needs. The substance use disorder treatment market in the U.S. alone was valued at $35.1 billion in 2021 and is projected to grow to $60.2 billion by 2029. Moreover, there are hundreds of millions of individuals around the globe afflicted by AUD. However, the market has been constrained due to the limited effectiveness and adverse side effects of current treatment options. We are executing on our development strategy and are optimistic about the potential of our MEAI-based therapy to offer a safe, effective solution that can transform lives.' The Phase I/IIa clinical trial is being conducted at multiple sites, including Yale School of Medicine and Johns Hopkins University School of Medicine, while the Company is valuating additional clinical sites. Clearmind remains committed to advancing its robust intellectual property portfolio and pioneering psychedelic-derived therapeutics to address global health challenges. About Clearmind Medicine Inc. Clearmind is a clinical-stage psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods or supplements. The Company's intellectual portfolio currently consists of nineteen patent families including 31 granted patents. The Company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio. Shares of Clearmind are listed for trading on Nasdaq under the symbol 'CMND' and the Frankfurt Stock Exchange under the symbol 'CWY0.' For further information visit: or contact: Investor Relationsinvest@ Telephone: (604) 260-1566US: CMND@ General InquiriesInfo@ Forward-Looking Statements: This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates' and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses conducting its Phase I/IIa clinical trial, developing a treatment for individuals struggling with AUD, the size of the substance use disorder treatment market, executing its development strategy, valuating additional clinical sites, and that it remains committed to advancing its robust intellectual property portfolio and pioneering psychedelic-derived therapeutics to address global health challenges. The Company cannot assure that any patent will issue as a result of a pending patent application or, if issued, whether it will issue in a form that will be advantageous to the Company. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission ('SEC'), including, but not limited to, the risks detailed in the Company's annual report on Form 20-F for the fiscal year ended October 31, 2024 and subsequent filings with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Clearmind is not responsible for the contents of third-party websites.
Yahoo
29 minutes ago
- Yahoo
Coppernico Metals Announces the Voting Results of its 2025 Annual General Meeting
VANCOUVER, British Columbia, June 25, 2025 (GLOBE NEWSWIRE) -- Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF, FSE: 9I3) ('Coppernico' or the 'Company'), is pleased to announce the voting results for the election of its Board of Directors at the Annual General Meeting ('AGM') of Shareholders held virtually on June 24, 2025 (the 'Meeting'). The director nominees, as listed in the Company's Information Circular dated May 14, 2025, and SEDAR+ filed May 16, 2025, were elected as directors of the Company at the Meeting to serve until the next AGM. A total of 79,766,163 of the Company's common shares ('Common Shares') were present or represented by proxy at the Meeting, representing 44.99% of the outstanding Common Shares. The voting results for the election of directors are as follows: Election of Directors: Name of Nominee VotesFor VotesFor (%) VotesWithheld/Abstain VotesWithheld/Abstain (%) Ivan James Bebek 67,033,010 99.64% 243,827 0.36% Antonio Arribas 67,041,966 99.65% 234,871 0.35% Gordon J. Fretwell 67,041,617 99.65% 235,220 0.35% Keenan Jennings 67,043,352 99.65% 233,485 0.35% Jeffrey R. Mason 65,987,321 98.08% 1,289,516 1.92% Mary Jane McQuhae 66,996,272 99.58% 280,565 0.42% Marie-Hélène Turgeon 66,995,971 99.58% 280,866 0.42% There were 12,489,326 non-votes recorded (but not voted) for each director. Non-votes are discretionary votes given to a broker by a US beneficial holder, but such votes are not allowed under Canadian securities regulations. Reappointment of Auditor: VotesFor VotesFor (%) VotesWithheld/Abstain VotesWithheld/Abstain (%) Davidson & Company LLP 79,615,570 99.81% 150,593 0.19% Voting results have been filed on Ivan Bebek, Chair and CEO of Coppernico, stated, "We appreciate the continued support from our shareholders. Our initial drill program has not only confirmed the presence and the scale of the system at Sombrero, but it has improved our knowledge across a growing pipeline of potential high-impact targets. Backed by strong partnerships, a healthy treasury, and a clear path to permitting, we are looking forward to our ongoing exploration results and the next phase of drilling with increased conviction and excitement." ON BEHALF OF THE BOARD OF DIRECTORS Ivan BebekChair & CEO For further information, please contact: Coppernico Metals Inc. Phone: +1 778 729 0600 Email: info@ Website: Twitter: @CoppernicoMetal LinkedIn: About Coppernico Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through diligent project evaluation and exploration, in pursuit of the discovery of world-class copper-gold deposits in the Americas. The Company's management and technical teams have a successful track record of raising capital, discovery and the monetization of exploration successes. The Company's objective is to become a leading advanced copper explorer, and through its wholly owned private Peruvian subsidiary Sombrero Minerales S.A.C., is currently focused on the Ccascabamba (previously referred to as Sombrero Main) and Nioc target areas within the Sombrero Project in Peru, its flagship project, while regularly reviewing additional premium projects to consider for acquisition. The Sombrero Project is a land package of approximately 102,000 hectares (1,020 square kilometres) located in the north-western margins of the world-class Andahuaylas-Yauri trend in Peru. It consists of a number of prospective exploration targets characterized by copper-gold skarn and porphyry systems and precious metal epithermal systems. The Company's NI 43-101 technical report, with an effective date of April 17, 2024, and as filed on SEDAR+ on May 23, 2024, focuses on the Ccascabamba and Nioc target areas of the Sombrero Project. Coppernico Metals Inc. is listed on the Toronto Stock Exchange under the symbol "COPR", trades on the OTCQB Venture Market under the symbol 'CPPMF', and is listed in the Unofficial Market of the Frankfurt Stock Exchange under the symbol "9I3". More information about the Company can be found on the Company's profile on SEDAR+ ( Cautionary Note No regulatory organization has approved the contents hereof. This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, 'forward-looking statements'). Forward-looking statements are often identified by terms such as 'may', 'should', 'anticipate', 'expect', 'intend' and similar expressions and include, but are not limited to, statements with respect to: the Company's drill plans, the interpretation of assay results, identifying targets for future exploration, the potential of the mineralization, the progress and approval of permits, the potential expansion of the mineralization beyond currently permitted areas, and the temporary suspension of drilling and its anticipated resumption. No certainty can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company's 2024 Annual Information Form and other continuous disclosure filings with the Canadian Securities Administrators, available at These factors are not, and should not be construed as being, exhaustive. Accordingly, readers should not place heavy reliance on forward-looking statements. The forward-looking statements contained in this new release are expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. The Company does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in the Company's expectations except as otherwise required by applicable legislation.
