OTCQX: LBNKF stock (Header)
Inferred Resource Expected Q2 2023
The recently completed hydrogeological study indicates that PPLP hosts the largest lithium-bearing brine, by volume, held by a single operator in North America at 76.3 km3 of brine (76.3 B m3). The entire brine is wholly contained within the 1.57 M acre Crown mineral rights-only land package that is endowed with modern infrastructure and abundant geological data from decades of oil & gas activity. LithiumBank and Matrix are now using this information and recent sampling data to produce an NI 43-101 Resource Estimate that is expected to be completed in Q2 2023.
Park Place is land position consisting of 1,571,364 acres of mineral titles that cover ~95% of the Leduc reef complex, 50 km south of Boardwalk. The Park Place 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. 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 Park Place Metallic and Industrial Mineral permit area. 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. 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 Park Place Property. LithiumBank will continue to make announcements as news becomes available as Park Place is explored and developed in parallel to the Boardwalk Project.
The Park Place area was the focus of a study, authored by D.R. Eccles and H. Berhane, entitled “Geological Introduction to Lithium-Rich Formation Water with Emphasis on the Park Place Area of West-Central Alberta (NTS 83F and 83K)” ( https://ags.aer.ca/publication/ofr-2011-10 ). 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.