LithiumBank drills entire Leduc Formation at Boardwalk Project, Alberta
LithiumBank Resources Corp. [TSXV-LBNK; OTCQX-LBNKF] has completed drilling through the entire 232-metre thickness of the Leduc Formation at its 100%-owned Boardwalk Lithium Brine Project located in west-central Alberta, Canada.
LithiumBank extended its 100%-owned well, 100/10-06-069-21W5/00 (10-6) to a total depth of 2,869 metres in a sidetrack that starts at the Leduc top. The drilling increased the known thickness of the Leduc from 206 metres to 232 metres in the area. Drilling also intersected 84 metres of the underlying porous limestone Swan Hills Formation, similar to what is encountered at Park Place.
The company is currently logging the hole for lithology, porosity & permeability plus flow testing & sampling discrete depth intervals for complete chemical analysis. The company expects that this data will upgrade the confidence of the Boardwalk resource and provide additional reservoir information for modelling potential production scenarios.
“Drilling through the entire Leduc Formation in our own well and increasing its known thickness is another milestone achievement for LithiumBank. Our ongoing summer work program continues to add value and de-risks our Boardwalk lithium brine project,” commented Rob Shewchuk, CEO. “Controlling our own licensed well allows LithiumBank to collect brine samples and important subsurface data that can be used to validate and integrate regional data sets to upgrade the resource classification and confidence.
“More importantly, it will provide insight on the continuity and variability of lithium concentration over the 232-metre extent of the Leduc Formation. We will use this well to assess reservoir characteristics anticipated to enable better production planning. The bulk brine samples we can now collect will be tested at our DLE pilot plant facility in Calgary to validate and enhance our exclusive DLE technology.”
On August 5 LithiumBank completed the re-entry and deepening of the company’s 10-06 well, previously acquired May 16th, 2024. The well was deepened in a sidetrack starting at the top of the Leduc Formation to drill the entire section from the top to bottom (~232 m) of the formation.
LithiumBank is pleased with this result which increased the estimated dolomite Leduc thickness by more than 20 metres. This drill section will be used to collect lithological, porosity, permeability, downhole geophysical data, and conduct flow testing at various depth intervals.
This new well will allow the company to collect brine samples at various depths for complete chemical analysis to determine grade and variability throughout the vertical column of the Leduc. The company will also collect bulk brine samples (~200 cubic metres in total) from below the hydrocarbon horizon to be used in Direct Lithium Extraction (DLE) testing at LithiumBank’s own pilot facility in Calgary, Alberta.
LithiumBank Resources is focused on developing and de-risking the largest portfolio of lithium brine assets in North America. The company has completed a NI 43-101 Preliminary Economic Assessment (PEA) at Boardwalk, an initial NI 43-101 Resource Estimate at Park Place which are both located in west-central Alberta.
The company is currently conducting large scale pilot testing of a licensed Direct Lithium Extraction (DLE) technology at the company’s facility in Calgary. The DLE technology process being piloted is currently being used at a commercial scale for use in other metals. The company owns 100% of the 2,130,470 acres of brown-field brine hosted mineral licenses within Alberta and Saskatchewan.