One World Lithium Inc (CSE:OWLI) (OTCMKTS:OWRDF) announced Tuesday a new proof of concept program designed to test what could be a potential lithium separation technology.
In a statement, the Vancouver-based firm said that West Peak Ventures of Canada Ltd assigned the protocols to OWL to hire a private laboratory to conduct the separation technology proof of concept program on a contract basis.
Results, if positive, will prove a new critical fluid separation technology that will separate pure lithium and related elements from a brine solution for use in commercial applications.
READ: One World Lithium engages Cognitive Corporate Services to boost investor awareness on the street
OWL told investors that the laboratory will have a chemical engineer skilled in separation technologies manage the program and verify the test results. The program is anticipated to cost around C$100,000 and will take nearly three months, according to a statement.
OWL will own 100% of the technology to extract lithium from brine solutions, as well as patents from the current and future programs.
If the technology is proven to have commercial applications, OWL and West Peak Ventures will sign a formal agreement, OWL said.
Last week, OWL signed an agreement with corporate advisory firm Cognitive Corporate Service, led by CEO John Costigan, who will advise OWL on marketing its products.
"Subject to a proof of concept program, this technology has the potential to be a game changer for current and future lithium brine producers,” Costigan told shareholders.
Costigan and his firm ECMB Capital Partners Inc have successfully aided companies in raising over C$200 million.
When a current C$1.5 million offering is funded, OWL will also start drilling two diamond drill holes at the south end of the Salar del Diablo lithium brine project in the State of Baja California, Mexico.
Contact Angela at angela@proactiveinvestors.com
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