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EMP Metals Corp. (CSE: EMPS) (OTCQB: EMPPF) ("EMP Metals" or the "Company ") is pleased to announce positive results from the recently completed flow test of its second test well, 14-36-009-13W20, in the Mansur permit area located in southeast Saskatchewan ( Figure 1 ). Third-party laboratory testing returned lithium concentrations in the Duperow formation up to 148 mgl. 1
The flow test confirmed high lithium concentrations ranging from 77 to 148 mg/l within 3 zones targeted for future development within the Duperow beds ( Figure 2 ).
The Wymark C zone tested 147 to 148 mg/l from a 11.6 m thick zone with average porosity of 10.4%.
The Wymark E zone tested 101 to 106 mg/l from a 4.9 m thick zone with average porosity of 12.7%.
The Wymark B zone tested 77 mg/l from a 16.9m thick zone with average porosity of 13.8%.
Detailed Test Results:
Wymark E | Wymark C | Wymark B | TOTAL LCE/Section | |
Ave Porosity LAS Value | 0.11 | 0.102 | 0.138 | |
Effective Porosity LAS Value | 0.102 | 0.094 | 0.128 | |
Net Thickness LAS Value | 4.86 | 9.67 | 16.19 | |
Li Conc Est Value | 103.4 | 148 | 76.9 | |
Brine por vol (per section) | 1,229,948 | 2,255,301 | 5,141,703 | |
Est Li in place (per section) | 127 | 334 | 395 | |
Calculated LCE Tonne per section | 677 | 1,777 | 2,105 | 4,558 |
Water Saturation .02, Formation Factor 1.023, Lithium converted to LCE using 5.323 |
These results now allow for the development of a four layer lithium brine project with brine concentrations expected in the 77 to 148 mg/l range. The Company expects to develop the four individual zones utilizing horizontal wellbores.
Rob Gamley , CEO of EMP Metals, commented, "The Company is excited to have the opportunity to develop one of the highest concentration brine accumulations within Canada. The test results of this second well confirm the high lithium concentrations and resource potential identified during the testing of our first well. Lithium concentrations at 100 to 148 mg/l in combination with having no H2S or oilfield contaminants, and a relatively shallow depth of 1800m , should give this project a distinct competitive advantage with respect to capital costs and operating costs per tonne."
The Company is currently finalizing an 43-101 resource report for the area which is expected to be completed within Q1, 2023. In parallel with that the Company has begun working on the development plan and PEA which it hopes to have complete early in Q2 of 2023. Towards that goal the Company is currently working with a third party Direct Lithium Extraction (DLE) technology provider who is running the Company brine through pilot testing during Q1 of 2023 in order to finalize the process flow and costing required for a complete Preliminary Economic Assessment (PEA).
Mr. Gamley stated, "We are very pleased with the continued strong results from the Mansur Project area which has clear potential for development of the 56 sections (35,840 acres of land)."
The Company continues to work on testing and evaluation of its Viewfield area, 35 miles southeast of Mansur, where the Company has an additional 74 sections (47,360 acres of land). In total the Company has over 200,000 acres of lithium rights within the Duperow lithium fairway in Saskatchewan .
Lithium Brine Properties Joint Venture
The lithium brine properties consist of 37 permits totalling 212,633 acres (86,050 hectares) of Subsurface Crown Mineral Dispositions within the Duperow lithium fairway in Saskatchewan.
EMP Metals holds 75% of the joint venture with ROK Resources Inc. (ROK.V) holding the balance.
Qualified Person
The technical content of this news release has been reviewed and approved by Greg Bronson , P. Geo., a qualified person for the purpose of National Instrument 43-101.
Notes:
1 Independent laboratory testing was conducted by Isobrine Solutions (Edmonton, Alberta) |
About EMP Metals
EMP Metals is a Canadian-based exploration company focused on the acquisition and exploration of mineral projects with significant development potential. Its current portfolio of lithium brine properties consists of 37 permits totaling 212,633 acres (86,050 hectares) of Subsurface Crown
Mineral Dispositions in the Williston basin of Southern Saskatchewan . Brine sampling of a vertical wellbore located on one of the properties returned lithium concentrations in the Duperow formation up to 148 mg/l. For more information, please go to the Company's website at www.empmetals.com .
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. EMP Metals cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond EMP Metals' control. Such factors include, among other things: risks and uncertainties relating to EMP
Metals' limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on its mineral properties, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, EMP Metals undertakes no obligation to publicly update or revise forward-looking information.
Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE EMP Metals Corp.
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