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98% Lithium Extraction Recovery Factor Achieved
CALGARY, ALBERTA (May 25, 2023) (TSX.V: GRD OTCQB: GRDAF) – Grounded Lithium Corp. (“GLC” or the “Company”) is pleased to announce our direct lithium extraction (“DLE”) selection process, as previously communicated, reached a positive conclusion. Based on very encouraging lab results for the chemistry of the Kindersley Lithium Project brine (the “KLP Brine”), the Company selected Koch Technology Solutions (“KTS”), a Koch Engineered Solutions (“KES”) company, and its proprietary Li-ProTM technology as the technology of choice for implementation in our upcoming field pilot.
Key KTS lab result findings:
- Observed lithium extraction recovery rates from KLP Brine averaged 98% over multiple passes; and
- Equally positive, the process technology effectively rejected other key ions found in KLP Brine deposits with observed rejection factors of 99%
Next steps with KTS:
- The Company received a proposal from KTS to provide the Li-ProTM technology under an appropriately staged evaluation program, or field pilot, lasting several months to determine more extensive extraction results over the long-term; and
- KTS will assist in the preparation of a detailed feasibility-level engineering solution using the Li-ProTM technology in a full-scale central processing facility to evaluate overall project commerciality
Assuming the proposal is agreed to by all parties, GLC would be responsible for work associated with preparations of a functional field pilot, including but not limited to, provision of sufficient feedstock, job site and associated facility requirements such as permits, civil works, buildings and storage tanks, access to utilities, manpower and brine disposal. The Company can readily provide these elements available in the Kindersley area together with utilizing our extensive experience and networks within the resource development sector. Subject to achieving certain corporate initiatives, the Company envisions that these events will take place over the balance of 2023 and into early 2024. 2
The strength of these achieved results using the KTS technology accelerates our desire to move quickly towards field pilot testing. We believe this represents a pivotal step in the process to produce a dense lithium chloride solution ready for the final refining into a battery-grade lithium product. The selection of KTS’ technology provides us with key data for use in the Company’s preliminary economic assessment (“PEA”) scheduled for completion by the end of Q2 2023. KTS has been active in the lithium from brine industry, having recently entered into a joint development agreement with a significant North American lithium from brine developer.
“Our team continues to execute our business plan to become a leading Canadian commercial producer of battery-grade lithium. We are excited to be taking critical next steps, based on the very positive extraction results, with a world-class organization such as Koch,” commented Gregg Smith, President & CEO. “Each milestone achieved provides increased conviction to advance the ensuing stages of our business plan, inclusive of the submission of our maiden PEA and the construction of a field pilot project later this year. We look forward to funding these stages and communicating results.”
About Koch Technology Solutions
KTS is the technology licensing business of KES. KTS creates value for its customers across a growing portfolio of technologies including direct lithium extraction, the polyester value chain, refining industry and the 1,4-Butananediol plus its derivates. KTS combines its exclusive technologies, expertise, and capabilities with those of other KES companies to provide overall solutions to optimize customer’s capital investments and existing manufacturing assets.
About Grounded Lithium Corp.
GLC is a publicly traded lithium brine exploration and development company that controls approximately 4.2 million metric tons of lithium carbonate equivalent of inferred resource over our focused land holdings in Southwest Saskatchewan. GLC’s multi-faceted business model involves the consolidation, delineation, exploitation and ultimately development of our opportunity base to fulfill our vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/.
Qualified Person
Scientific and technical information contained in this press release pertaining specifically to recent lab extraction results on our brine from the KES lab were prepared under the supervision of Dale Shipman, P.Eng, VP Operations, of the Company, a qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. All other scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, P.Eng, Suryanarayana Karri, P. Geoph., Alexey Romanov, P. Geo. and Meghan Klein, P. Eng., each of whom is a qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. 3
For more information, please contact:
Gregg Smith, President & CEO Greg
[email protected]
Phaneuf, SVP Corporate Development & CFO
[email protected]
Phone: 587.319.6220
Forward-Looking Statements
This press release may contain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. The opinions, forecasts, projections and statements about future events of results, are forward looking information, forward-looking statements or financial outlooks (collectively, “forward-looking statements“) under the meaning of applicable Canadian securities laws. These statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by GLC that the Company believes these forward-looking statements continue to be true as of any subsequent date. Although GLC believes that the assumptions underlying, and expectations reflected in, these forward-looking statements are reasonable, it can give no assurance that these assumptions and expectations will prove to be correct. Such statements include, but are not limited to, statements regarding the timing of future achievements, the construction of a field pilot project, reaching an agreement with KTS regarding its proposal to provide the Li-ProTM technology, the preparation of a detailed feasibility-level engineering solution using the Li-ProTM technology in collaboration with KTS, the Company’s ability to provide work associated with the preparation of a functional field pilot and the timing of completion thereof, the completion and timing of the PEA, and GLC’s vision of becoming a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition.
Among the important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those indicated by such forward-looking statements are: GLC’s expectation that our operations will be in Western Canada, unexpected problems can arise due to technical difficulties and operational difficulties which impact the production, transport or sale of our products; geographic and weather conditions can impact the production; the risk that current global economic and credit conditions may impact commodity prices and consumption more than GLC currently predicts; the failure to obtain financing on reasonable terms; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the failure of drilling to result in commercial projects; unexpected delays due to the limited availability of drilling equipment and personnel; and the other risk factors detailed from time to time in GLC’s periodic reports. GLC’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.