EMP METALS REPORTS SUBSTANTIAL INCREASE IN HIGH-GRADE RESOURCE ACROSS ALL CATEGORIES FOR ITS VIEWFIELD AND MANSUR PROJECTS, SASKATCHEWAN
Highlights of Increase and Upgrades:
-
Total resource increased by over 78.5%:
- 931,038 tonnes of indicated LCE with a weighted average of 141 mg/L lithium;
- 1,117,225 tonnes of inferred LCE with a weighted average 112 mg/L lithium.
-
The 931,038 tonnes of indicated LCE at
Viewfield Project was upgraded from a previous inferred mineral resource. - High-grade with a weighted average 141 mg/L lithium for indicated and 112 mg/L lithium for inferred.
- Drilling and test results from three vertical and one horizontal test well drilled by EMP.
- Confirmation of production capabilities from the first horizontal well in the project area, along with production swab tests in multiple zones from EMP test wells.
-
Souris River formation confirmed lithium test averaging 72mg/l.
Since the last technical update, EMP has expanded its land position by more than 20%, adding over 6,700 Ha of prospective lands in the Viewfield and Mansur permit areas, with total combined landholdings exceeding 83,000 Hectares in
Table 1. Summary of Indicated and Inferred MRE
Resource |
Project |
Grade (mg/L |
Tonnes of LCE |
Category Totals |
Category Grade |
Indicated |
Viewfield |
141 |
931,038 |
931,038 |
141 |
Inferred |
Viewfield |
107 |
488,439 |
1,117,225 |
112 |
Inferred |
Mansur |
116 |
628,786 |
|
Notes: |
(1) Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the mineral resource will ever be upgraded to a higher category. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. |
(2) The weights are reported in metric tonnes (1,000 kg or 2,204.6 lbs) |
(3) Tonnage numbers are rounded to the nearest 1,000 unit |
(4) The resource estimation was completed and reported using a cut-off of 50 mg/L Lithium |
(5) To describe the resource in terms of industry standard, a conversion factor of 5.323 is used to convert elemental Li to Li2CO3, or Lithium Carbonate Equivalent (LCE). |
|
EMP CEO
Assumptions and Parameters
The resource estimate on the Viewfield and Mansur Projects were carried out using stochastic
Net porous thickness was calculated from digital well logs for each of the eight aquifers using a 3% porosity cut-off, which was applied to the matrix-corrected effective porosity curves for each well. In the Monte Carlo simulation, a triangle distribution was used to represent the range of thicknesses within each aquifer.
The effective porosity was determined using the effective porosity curve of each well tabulated for each aquifer. For the Monty Carlo simulation, a normal distribution was used by inputting an average effective porosity and a calculated standard deviation from the spread of the data.
Effective porosity is used in conjunction with SW (irreducible water) to be representative of Specific yield. Since this is a large, confined reservoir under subsurface pressure and temperature conditions this reservoir will not dewater, and Specific yield does not apply. For a 100% brine-filled reservoir where effective porosities were calculated and a cut off 3% porosity was implemented, the volume of the permeable reservoir is expected to have a low irreducible water saturation. For the Monte Carlo simulation 0 to 2% SWir was used as the minimum and maximum SWir.
Using the lithium concentrations that were sampled and analyzed for each Duperow zone on the EMP permits, along with applicable offsetting data, a defined range of probable concentrations was determined for each zone and a normal distribution of values was implemented into the Monte Carlo simulation.
Mineral Resource Quality Assurance and Control
Swab tests were performed by Red Hawk Well Servicing, with the use of a downhole mechanical swabbing string and associated surface equipment. The Company uses industry standard quality assurance and quality control protocols in carrying out its exploration activities. Brine testing was completed by Isobrine Solutions (
Qualified Person
The technical content of this news release has been reviewed and approved by
About
EMP is a Canadian-based lithium exploration and development company focused on large-scale resources using direct lithium extraction (DLE). EMP currently holds over 205,000 net (83,000 hectares) acres of Subsurface Dispositions and strategic wellbores in
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 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' control. Such factors include, among other things: risks and uncertainties relating to EMP' 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 undertakes no obligation to publicly update or revise forward-looking information.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release
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