LithiumBank Resources Corp (TSX-V:LBNK) has announced assay results from samples taken at its Park Place lithium brine project in Alberta.
Three brine samples were collected from a 72-meter-thick interval at the top of the Leduc Formation, returning lithium grades between 71.2 miligrams per liter (mg/L) and 82 mg/L, with an overall average of 77.2 mg/L.
“We are very pleased to see our first Park Place brine samples reflect lithium grades from historical assays,” independent director Paul Matysek said in a statement. “The Park Place area has historically reported some of the highest-grade lithium brine samples in Alberta and it is very encouraging that our sampling to date confirms that lithium grades at Park Place tend to be higher than typically seen anywhere in Alberta.”
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The Park Place project consists of 1,602,209 acres and includes the lithium-rich, Devonian-aged Leduc Formation, the Carbonate Reef complex and the underlying Beaverhill Lake group. These formations are confined aquifers and are considered to be hydraulically connected, the company said.
The Leduc and Swan Hills formations have historically been known to host some of the highest grades of lithium-in-brine in Alberta, with samples that range from 76 mg/L to 130 mg/L lithium within the Park Place permit area, the company said. Those samples were provided to the Alberta Geological Survey by Petro-operators in 2010 and thus have not been verified by a qualified person.
A full breakdown of the company's assay results can be found here.
LithiumBank is focused on lithium-enriched brine projects in Western Canada, where low-carbon-impact, rapid direct lithium extraction (DLE) technology can be deployed. The firm currently holds over 3.77 million acres of mineral titles, 3.44 million in Alberta and 326,000 in Saskatchewan.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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