Phase 2 Lithium Sampling Begins on E3 Metals Permit Areas
Vancouver, BC (FSCwire) - E3 Metals Corp. (TSXV: ETMC, FSE: OU7A, OTC: EEMMF) (the “Company”, “E3” or “E3 Metals”) is pleased to announce that it has initiated the second phase of sampling for lithium at active oil and gas wells across the Company’s Alberta Lithium Project Permit Areas. This second phase of sampling will accomplish three goals critical for the development of the Company’s Petro-Lithium Project in South-Central Alberta:
- Extend sampling in areas allocated for resource extensions planned for 2018
- Return to previously sampled areas for repeated analysis which will assist in upgrading the resource to Measured + Indicated in the future
- Collection of a 1000 liter (L) sample from the Clearwater Project area to be used for bench scale lithium extraction test work
The second phase sampling program will begin this week and is expected to continue on an ongoing basis for the next 2 to 3 months continuing into 2018.
The Company has been provided access by several operators to wells and batteries for collection of brine samples to determine the concentration of lithium contained within the formation water. The sampling program will be conducted at multiple locations within the Company’s Metallic and Industrial Minerals (MIM) Permit Areas. After the samples are collected in the field, they will be transported to accredited laboratories for analytical tests. The first results from the sampling program are expected to be available within 6 to 8 weeks. E3 Metals would like to thank the operators collaborating with the Company to complete the sampling program.
“The second phase of sampling beginning this week is building on the success of the first phase of sampling completed in October,” said E3 Metals’ CEO Chris Doornbos. “Phase one results are being used to produce the Company’s first compliant mineral resource estimate expected to be announced before the end of this year. We are continually expanding our sampling area which will lead to the definition of additional resource estimates in 2018.” Mr. Doornbos also commented “The collection of a large sample of formation brine water for extraction test work is also a key part of the Company’s development goals for 2018.”
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements concerning the use of proceeds of the Offering, the future renunciation of Canadian Exploration Expenses that are flow-through mining expenditures, the tax treatment of the Flow-Through Shares, the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking 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 future tax treatment of the Flow-Through Shares, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. 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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/E3Metals11082017.pdf
Source: E3 Metals Corp. (TSX Venture:ETMC)
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