Comstock Metals Joint Venture Partner Begins Development of Lithium Extraction Pilot Plant
Vancouver, September 26th, 2018 - Comstock Metals Ltd. (TSX-V: CSL) ("Comstock" or the "Company") is pleased to announce that its joint venture partner E3 Metals Corp. (TSXV: ETMC) ("E3 Metals"), has begun the development of its pilot plant which will incorporate E3's proprietary concentration technology to complete the lithium extraction portion of the process flowsheet. Beyond being joint venture partners Comstock previously made a strategic investment into E3 Metals and owns 1,000,000 units (see news release dated August 21st, 2018) gaining exposure to a developing technology and resource. "The proof of concept stage in a technology's evolution is a critical step towards third party validation and interest. This moves the technology closer to commercialization which will be key in our joint venture" said Steven Goldman, President, CEO and director of Comstock "Chris and his team are doing a great job and we believe there is a lot of value to be unlocked moving forward."
Below are the key elements to E3 Metals' news release dated September 26th, 2018. For details on the full release please visit: https://e3metalscorp.com/wp-content/uploads/2018/09/26-09-18-E3-Metals-News-Pilot-Plant-.pdf
Pilot Plant Design and Timeline
The development plan for E3 Metals for the next six months includes:
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1.Demonstrating repeatability of the University of Alberta's extraction technology development at
commercial facilities (GCC - AI and NRC - IRAP)
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2.Increasing the performance efficiencies of the ion-exchange process by increasing recovery,
concentration factor and lithium uptake
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3.Developing a commercially scalable ion-exchange sorbent material
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4.Constructing ion-exchange equipment in a lab environment to refine the mass balance and
generate volumes of concentrate
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5.Producing lithium hydroxide at the lab scale
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6.Finalizing the lithium production process flow sheet
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7.Finalizing the design of the pilot plant
Lithium Production Process Flow Sheet
The lithium production process is comprised of three main steps.
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1.Pumping the lithium enriched brine from the Leduc reservoir to the surface.
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2.Creating a higher-grade lithium concentrate that utilizes E3 Metals' proprietary ion-exchange process.
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3.Generating the final lithium product (lithium hydroxide or carbonate) by further purification, electrolysis and crystallization.
About Comstock Metals Ltd.
Comstock Metals Ltd. is an exploration company with several resources projects located in North America. Presently evaluating opportunities in the battery metal space Comstock recently secured the Rawhide Cobalt-Silver Project in Ontario adding to its 2 advanced gold projects: Preview Project in Saskatchewan and QV Project in the Yukon.
Forward Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the pilot plant design timeline proposed by E3 Metals. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
For more information about Comstock Metals Ltd., please visit www.comstock-metals.com or contact:
Steven H. Goldman
President, CEO and Director
Phone: (416) 867-9100
Email: s.goldman@goldmanhine.com
Neither 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.
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