E3 Metals New Assay Results Outline Lithium Concentration Consistency and the Company Files Clearwater Technical Report

ID: 1530560
recent pressrelease next pressrelease

(businesspress24) -
E3 Metals New Assay Results Outline Lithium Concentration Consistency and the Company Files Clearwater Technical Report

Highlights

- New results have lithium concentrations as high as 77.7 mg/L

- Re-sampled wells indicate consistency in lithium concentration over time

- New sampling locations extend the known lithium concentrations across the Leduc Reservoir

- E3 Metals files the Central Clearwater Property NI 43-101 Technical Report

- Provide update on results from the Annual General Meeting

Vancouver, BC - October 15, 2017 - E3 METALS CORP. (TSX-V: ETMC, FSE: OU7A, OTC: EEMMF) (the Company, E3 or E3 Metals) is pleased to announce results from the latest sampling program, ranging from 54.0 mg/L to 77.7 mg/L from the Leduc Reservoir. This latest round of sampling involved a combination of 7 new wells sampled and 13 previously sampled wells. The sampling locations are at actively producing oil and gas wells across a portion of the Companys Petro-Lithium Project in Alberta. Of the wells that were re-sampled the results were consistent with the previous sampling from each well increasing the confidence in the lithium concentration across the reservoir. Receiving consistent results over time from the same well locations will be an important contribution to the upgrading of NI 43-101 Inferred mineral resources in Rocky and Clearwater to Measured and Indicated.

The Company has filed the NI 43-101 technical report for the Central Clearwater Resource Area. The report is available on SEDAR at www.sedar.com as well as on the Companys website. Please refer to the Companys news release of November 15, 2017 for more details. E3 Metals has updated its corporate presentation to include development plans for 2018 - the corporate presentation is also available on our website. Going forward, E3 Metals will focus efforts on developing an extraction process flow sheet by continuing the testing program with a focus on lithium concentration.



Sampling Program

E3 Metals ongoing sampling program, now totaling 73 samples (60 individual wells and 13 repeat samples) across the permit area, has been completed without the requirement to drill a well. This has allowed E3 Metals to leverage hundreds of millions of dollars of oilfield investment in E3s permit areas, and has resulted in a very cost-effective sampling and assay program. E3 Metals is grateful for the strong collaborative support from oil and gas operators working in the permit areas, which has allowed the Company to confirm lithium concentrations across a broad area, some of which has never previously been tested for lithium. The sampling to date has demonstrated that the lithium concentrations are generally consistent across each property throughout the massive Leduc Reservoir.

Of the wells sampled, three were new wells collected from the Leduc Reservoir. Two of these wells were located in the Central Clearwater Resource Area, with results of 73.8 mg/L and 75.0 mg/L. One well was located in the North Rocky Resource Area and with a result of 54.0 mg/L.

In addition, 4 new samples were collected from the Nisku Reservoir in the Exshaw West Area, ranging from 37.4 mg/L to 70.5 mg/L. An overview of new sampling results and all assay results to date is presented in Table 1.

Table 1: New Lithium Assay Results from Additional 7 Wells and Summary of All Results to Date
New Assay Results Geologic All Assay
Formation Results

E3 Min Li Max Li Number Total Total by
Metals (mg/L) (mg/L of Average
Project ) Wells (mg/L) Area Sam
Area Sampled pled

Clearwate73.8 75.0 2 Leduc 77.6 8
r

Exshaw 37.4 70.5 4 Nisku 55.5 10
West

Rocky 54.0 54.0 1 Leduc 54.2 14

http://www.irw-press.at/prcom/images/messages/2017/41826/E3 Metals News Release re Sampling Results Dec 19 2017_Finalprcom.001.png

Figure 1: E3 Metals Corp. permit areas (red outline) with new sampling results outlined in blue (Leduc Reservoir) and green (Nisku Reservoir). Grey dots represent previously collected samples.


The remaining 13 wells in this sampling program were re-sampled locations. Previous samples were collected between June and September 2017. A total of four Leduc wells were re-sampled within and nearby the Central Clearwater Resource Area. The re-sampled concentrations ranged from 71.0 mg/L to 77.7 mg/L, and were consistent with previous results. In the Rocky area, four Leduc wells were re-sampled with an average of 54.5 mg/L. In the Exshaw west area, four Leduc wells were re-sampled ranging from 46.7 to 75.5 mg/L. One Nisku well was re-sampled at 69.2 mg/L. An overview of resampling results is outlined in Table 2, and are shown geographically in Figure 1.

Table 2: Comparison of Repeated Lithium Assay Results from E3 Metals Latest Sampling Round and Previous Results
E3 # of Geologic Initial InitialRepeat Repeat
Metals SamplesFormation Collecti Result Collecti Result
Project on (mg/L)on (mg/L)
Area Date Date

Clearwate4 Leduc Aug-Sept,76.2-77Nov, 201771.0-77
r 2017 .8 .7

Rocky 4 Leduc Aug, 201754.7-56Nov, 201753.8-56
.7 .0

Exshaw 4 Leduc June-July46.7-75Nov, 201744.4-72
West , .5 .4
2017

Exshaw 1 Nisku July, 67.0 Nov, 201767.0
West 2017


Variances in results over the 2-5 month period in between sampling were minimal, averaging 5.6% across all the wells re-sampled. This indicates that lithium concentrations remain consistent over time. In addition, new results were found to be consistent with the previously collected measurements in the surrounding area, further demonstrating spatial consistency of lithium enrichment in the Leduc.

E3 Metals will continue to collect samples across its Metallic and Industrial Mineral Permit area throughout 2018. These new samples are comprised of a mixture of new wells and previously sampled wells. Continued sampling adds confidence to the Resource areas and allows for the progression of Resources to Measured & Indicated, and ultimately towards a Reserve.

Of the 20 samples collected during the Companys latest sampling program, 15 were located within the Leduc Formation (Woodbend Group) and 5 from within the Nisku Formation (Winterburn Group). Both the Nisku and Leduc Formations are Devonian-aged, with the Nisku occurring between 10-200 metres stratigraphically above the Leduc across the sampling area. Devonian Formation stratigraphy for the area can be found in E3 Metals Technical Report dated May 18, 2017 Geological Introduction to E3 Metals Corp. Clearwater and Exshaw Lithium-Brine Properties in South Central Alberta, authored by Apex Geoscience Ltd., page 30 (available on SEDAR and on the Companys website at e3metalscorp.com).

Annual General Meeting

The Company held its Annual General Meeting on December 5th, 2017 (the AGM). At the AGM, one of the Companys directors, Jeremy Read, determined not to stand for re-election, and accordingly the Company elected four directors: Chris Doornbos, Paul Reinhart, Mike OHara and Peeyush Varshney. Jeremy has taken on the role of Managing Director of Pursuit Minerals and we wish him the best in this new endeavor. All other resolutions brought before the AGM were passed by the Companys shareholders.

About E3 Metals
E3 Metals is a publically listed company in the emerging Petro-Lithium space (TSXV: ETMC). E3 has brought together an experienced team that has secured the lithium (and other mineral) rights to over 570,000 hectares (~1.4 million acres) in Alberta covering the prolific Leduc Reservoir. Over 60 years of reservoir data from the oil and gas operators is readily available, and E3 has acquired this data to target its own sampling of the brines from existing wells. With the development of a sizable lithium resource that can be potentially exploited by direct lithium extraction technologies currently under development by industry leaders. More information about E3 Metals can be found our website by visiting: www.e3metalscorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS,

Chris Doornbos, President & CEO

E3 METALS CORP.

CONTACT INFORMATION
205 - 227 10th St NW Calgary, AB T2N 1V5
+1 (877) 319-7634
info(at)e3metalscorp.com
e3metalscorp.com

TSXV: -ETMC
FSE: -OU7A
OTC: -EEMMF

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.

Chris Doornbos (P.Geo), CEO and Director of E3 Metals Corp., is a Qualified Person a as defined by National Instrument 43-101 and has read and approved the technical information contained in this announcement

This news release includes certain forward-looking statements concerning the development of the Companys Alberta Petro-Lithium Project, the Companys intention to establish a mineral resource estimate in respect of its Alberta Petro-Lithium Project and the results thereof, the reliability or accuracy of sampling results, the anticipated results of future sampling programs, the future performance of our business, its operations and its financial performance and condition, as well as managements 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, results of current and future testing, 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.



More information:
https://www.realwire.com/releases/Future-leaders-motivated-by-a-sense-of-purpose-and-being-a-force-for-good http://www.credenceresearch.com/report/pepper-market http://www.credenceresearch.com/report/cardamom-oil-market http://www.credenceresearch.com/rep



Keywords (optional):



Company information / Profile:

PressRelease by

Requests:





PressContact / Agency:



published by: irw
print pressrelease  send to a friend  

Date: 12/15/2017 - 05:10
Language: English
News-ID 1530560
Character count: 3304
Kontakt-Informationen:
Firma: E3 Metals Corp.
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: Wien
Telefon:

Meldungsart:
Versandart:
Freigabedatum:
Comments:



Number of hits: 809

Linking-Tips:



Direct Link to this PressRelease:






We would appreciate a link in your News-, Press- or Partner-Site.

Comments on this PressRelease






All members: 9 438
Register today: 0
Register yesterday: 0
Members online: 0
Guests online: 60


Don't have an account yet? You can create one. As registered user you have some advantages like theme manager, comments configuration and post comments with your name.