E3 METALS CORP. (TSX-V: ETMC, FSE: OU7A, OTC: EEMMF) announced, further to its news release of October 19, 2017 disclosing initial sampling results, that results from the ongoing lithium sampling of a further 10 wells over its permit area range from 26.7 mg/L to 77.1 mg/L. The results provide additional confirmation that lithium concentrations are enriched throughout the Leduc Reef Trend. Two of the sampled wells will allow E3 Metals to extend the proposed resource area for the Company’s first National Instrument 43-101 lithium mineral resource, which is expected to be completed in the coming months.
An additional 10 samples were collected during the Company’s continued sampling program, including 8 from within the Leduc Formation (Woodbend Group) and 2 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. The lithium values from this sampling program range from 26.7 mg/L to 77.1 mg/L from within the Leduc Formation and 42.6 mg/L to 43.3 mg/L from within the Nisku Formation.
The Clearwater area assay with an updated average 78.7 mg/L from two samples (Table 1). These wells will allow E3 Metals to extend the proposed resource area in the Clearwater property further south to include these new samples (Figure 1). In the Rocky area, one Leduc well was sampled at 26.7 mg/L. Five Leduc wells were tested in Exshaw East, with an updated average of 52.6 mg/L. Two Nisku wells were tested in the Exshaw West area, with an updated average of 74.6 mg/L. In combination with previously announced assay results (see news release Oct. 19, 2017), E3 Metals has selected an area of interest to focus its efforts (Figure 1), and is developing a geological and hydrogeological model of the Clearwater Central and Rocky North Area that will lead to the development of the Company’s initial mineral resource estimate.
Table 1: Lithium Assay Results from Additional 10 Wells and Summary of All Results to Date
|New Assay Results||Geologic
|All Assay Results|
|E3 Metals Project Area||Min Li (mg/L)||Max Li (mg/L)||Number of Wells Sampled||Total Average (mg/L)||Total Wells Sampled|
“These results further delineate that lithium in the Leduc reservoir is wide-spread, with consistent grades over each area” said Chris Doornbos, CEO of E3 Metals. “This marks a pivotal point for the Company, allowing us to progress our NI 43-101 lithium mineral resource towards completion on time, and on budget.”
E3 Metals is working with oil and gas operators to plan and execute on going sampling over the Metallic and Industrial Minerals (MIM) permit area, which is expected to take place through the end of 2017. In addition to accessing wells in areas already sampled, E3 Metals is also focused on high-value exploration target wells in the MIM permit area with no historical lithium concentration data is available.