Resource World Magazine

16 www.resourceworld.com A U G U S T / S E P T E M B E R 2 0 1 9 of intent for a private company to earn a 100% interest in the Iron-T Project. Upon production, first right of refusal is granted; allowing VanadiumCorp to acquire up to 200,000 tonnes/year of vanadiferous tit - anomagnetite concentrate as an offtake for up to 15 years. LITHIUM E3 Metals Corp. [ETMC-TSXV; EEMMF- OTC] is a petro-lithium company that is developing direct recovery lithium brine projects in Alberta. The company has engaged Integrated Sustainability to com - plete a study of its brine production and injection infrastructure optionality in the Central Clearwater resource area from the prolific Leduc reservoir. The first step in the E3 Metals flow sheet is the production of brine from the subsurface to the lithium processing facility and the reinjection of lithium-void brine back into the reservoir. Rock Tech Lithium Inc. [RCK-TSXV; RCKTF-OTC; RJIB-FSE] is advancing its 100%-owned Georgia Lake Project 145 km northeast of Thunder Bay, Ontario. The property hosts a lithium-rich peg - matite vein deposit with measured and indicated resources of 6.57 million tonnes grading 1.01% Li 2 O in addition to inferred resources of 6.72 million tonnes grading 1.16% Li 2 O. The first PEA for the project, focused exclusively on the main resource area hosting less than 80% of total defined resources, was published in October, 2018. Highlights from the PEA included an NPV of $312 million and an IRR of 62.2%. The company recently reported that an initial leach test of ore from the Georgia Lake lithium project showed that analyses of samples found that disulphide could not be found within the rock samples, and do not indicate any acid rock drainage risk. Neo Lithium Corp. [NLC-TSXV; NTTHF-OTCQX; NE2-FSE] has filed a reserve estimation for its 100%-owned Tres Quebradas lithium brine project (3Q Project) in Catamarca Province, Argentina within the prefeasibility study (PFS) that defined proven and probable reserves of 1,294,000 tonnes of lithium carbonate averaging 790 mg/L lithium with a cut off at 800 mg/L lithium out of a measured and indicated resource of 4,005,000 tonnes, with a cut off at 400 mg/L lithium. The PFS also provided a mine plan strat - egy at the 3Q Project which focused on extracting the high-grade lithium brine first. Recent drill hole PB1-R-25 yielded an average of 1,117 mg/L lithium, 11,319 mg/L potassium, Mg/Li=1.59 and SO4/Li=0.1 over 178 metres from 87 to 265 metres in depth. This drill result validates additional high-grade lithium brine below the area where the resource and reserve was defined in the PFS to only 10 metres in depth. COPPER Western Copper and Gold Corp. [WRN-TSX, NYSE MKT] is conducting an approximately 10,000-metre drill program at its 100%-owned Casino copper-gold ENERGY METALS

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