98% Lithium Extraction Recovery Factor
Achieved
CALGARY,
AB, May 25, 2023 /CNW/ - (TSXV: GRD)
(OTCQB: GRDAF) - Grounded Lithium Corp. ("GLC" or the
"Company") is pleased to announce our direct lithium
extraction ("DLE") selection process, as previously
communicated, reached a positive conclusion. Based on very
encouraging lab results for the chemistry of the Kindersley Lithium
Project brine (the "KLP Brine"), the Company selected Koch
Technology Solutions ("KTS"), a Koch Engineered Solutions
("KES") company, and its proprietary Li-Pro™ technology
as the technology of choice for implementation in our upcoming
field pilot.
Key KTS lab result findings:
- Observed lithium extraction recovery rates from KLP Brine
averaged 98% over multiple passes; and
- Equally positive, the process technology effectively rejected
other key ions found in KLP Brine deposits with observed rejection
factors of 99%
Next steps with KTS:
- The Company received a proposal from KTS to provide the
Li-Pro™ technology under an appropriately staged evaluation
program, or field pilot, lasting several months to determine more
extensive extraction results over the long-term; and
- KTS will assist in the preparation of a detailed
feasibility-level engineering solution using the
Li-Pro™ technology in a full-scale central processing facility
to evaluate overall project commerciality
Assuming the proposal is agreed to by all parties, GLC would be
responsible for work associated with preparations of a functional
field pilot, including but not limited to, provision of sufficient
feedstock, job site and associated facility requirements such as
permits, civil works, buildings and storage tanks, access to
utilities, manpower and brine disposal. The Company can
readily provide these elements available in the Kindersley area together with utilizing our
extensive experience and networks within the resource development
sector. Subject to achieving certain corporate initiatives,
the Company envisions that these events will take place over the
balance of 2023 and into early 2024.
The strength of these achieved results using the KTS technology
accelerates our desire to move quickly towards field pilot testing.
We believe this represents a pivotal step in the process to
produce a dense lithium chloride solution ready for the final
refining into a battery-grade lithium product. The selection
of KTS' technology provides us with key data for use in the
Company's preliminary economic assessment ("PEA") scheduled
for completion by the end of Q2 2023. KTS has been active in
the lithium from brine industry, having recently entered into a
joint development agreement with a significant North American
lithium from brine developer.
"Our team continues to execute our business plan to become a
leading Canadian commercial producer of battery-grade
lithium. We are excited to be taking critical next steps,
based on the very positive extraction results, with a world-class
organization such as Koch," commented Gregg
Smith, President & CEO. "Each milestone achieved
provides increased conviction to advance the ensuing stages of our
business plan, inclusive of the submission of our maiden PEA and
the construction of a field pilot project later this year. We
look forward to funding these stages and communicating
results."
About Koch Technology
Solutions
KTS is the technology licensing business of KES. KTS
creates value for its customers across a growing portfolio of
technologies including direct lithium extraction, the polyester
value chain, refining industry and the 1,4-Butananediol plus its
derivates. KTS combines its exclusive technologies, expertise, and
capabilities with those of other KES companies to provide overall
solutions to optimize customer's capital investments and existing
manufacturing assets.
About Grounded Lithium
Corp.
GLC is a publicly traded lithium brine exploration and
development company that controls approximately 4.2 million metric
tons of lithium carbonate equivalent of inferred resource over our
focused land holdings in Southwest Saskatchewan. GLC's
multi-faceted business model involves the consolidation,
delineation, exploitation and ultimately development of our
opportunity base to fulfill our vision to build a best-in-class,
environmentally responsible, Canadian lithium producer supporting
the global energy transition shift. U.S. investors can find
current financial disclosure and Real-Time Level 2 quotes for the
Company on https://www.otcmarkets.com/.
Qualified Person
Scientific and technical information contained in this press
release pertaining specifically to recent lab extraction results on
our brine from the KES lab were prepared under the supervision of
Dale Shipman, P.Eng, VP Operations,
of the Company, a qualified person within the meaning of National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects. All other scientific and technical information
contained in this press release has been prepared under the
supervision of Doug Ashton, P.Eng,
Suryanarayana Karri, P. Geoph.,
Alexey Romanov, P. Geo. and
Meghan Klein, P. Eng., each of whom
is a qualified person within the meaning of National Instrument
43-101 – Standards of Disclosure for Mineral Projects.
Forward-Looking
Statements
This press release may contain forward-looking statements and
forward-looking information within the meaning of applicable
Canadian securities laws. The opinions, forecasts, projections and
statements about future events of results, are forward looking
information, forward-looking statements or financial outlooks
(collectively, "forward-looking statements") under the
meaning of applicable Canadian securities laws. These statements
are made as of the date of this press release and the fact that
this press release remains available does not constitute a
representation by GLC that the Company believes these
forward-looking statements continue to be true as of any subsequent
date. Although GLC believes that the assumptions underlying, and
expectations reflected in, these forward-looking statements are
reasonable, it can give no assurance that these assumptions and
expectations will prove to be correct. Such statements include, but
are not limited to, statements regarding the timing of future
achievements, the construction of a field pilot project, reaching
an agreement with KTS regarding its proposal to provide the
Li-Pro™ technology, the preparation of a detailed
feasibility-level engineering solution using the
Li-Pro™ technology in collaboration with KTS, the Company's
ability to provide work associated with the preparation of a
functional field pilot and the timing of completion thereof, the
completion and timing of the PEA, and GLC's vision of becoming a
best-in-class, environmentally responsible, Canadian lithium
producer supporting the global energy transition.
Among the important factors, risks, uncertainties and
assumptions that could cause actual results to differ materially
from those indicated by such forward-looking statements are: GLC's
expectation that our operations will be in Western Canada, unexpected problems can arise
due to technical difficulties and operational difficulties which
impact the production, transport or sale of our products;
geographic and weather conditions can impact the production; the
risk that current global economic and credit conditions may impact
commodity prices and consumption more than GLC currently predicts;
the failure to obtain financing on reasonable terms; the risk that
unexpected delays and difficulties in developing currently owned
properties may occur; the failure of drilling to result in
commercial projects; unexpected delays due to the limited
availability of drilling equipment and personnel; and the
other risk factors detailed from time to time in GLC's periodic
reports. GLC's forward-looking statements are expressly
qualified in their entirety by this cautionary statement.
This news release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities in any
jurisdiction.
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 news release.
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SOURCE Grounded Lithium Corp