E3 Metals announces joint venture with Comstock Metals

E3 Metals are a Petro-Lithium company who’re rapidly advancing the development of direct recovery lithium brine projects in Alberta. E3 Metals holds lithium resources at 6.7 Mt LCE (inferred). The Company has a compelling competitive advantage by virtue of having access to extensive infrastructure built by the Oil and Gas industry in Alberta.

A view above the Alberta oil fields where E3 Metal's are operating (Image - E3)

A view above the Alberta oil fields where E3 Metal’s are operating (Image – E3)

This has provided E3 Metals with low finding costs, as the Company has been able to sample existing wells to define its resource. This infrastructure may also provide wells and pipelines for a future lithium production operation, potentially reducing the Company’s future capital requirements. The Company’s immediate goal is to demonstrate a commercially viable chemical concentration process and believes this is a key driver to commercial production of its Alberta lithium brine resources.

in the last 24 hours, the company have announced a new joint venture with Comstock Metals (TSXV: CSL) (“Comstock”). The joint venture will look to acquire and develop further prospective mineral assets in the battery metal space. Comstock brings a wealth of experience and specific contacts to support the acquisition and development of quality mineral resources in North America.

One of E3's processing facilities in Alberta, Canada. (image - E3)

One of E3’s processing facilities in Alberta, Canada. (image – E3)

With the continued advancement of E3 Metals’ direct brine lithium extraction technology, the Company is seeking additional opportunities to deploy its technology. E3 Metals will provide the technical exploration and engineering expertise to evaluate prospective projects. As part of the agreement, Comstock’s President, CEO and Director Steven Goldman will join E3 Metals as an advisor.

E3 Metals President and CEO Chris Doornbos said:

“This agreement with Comstock will enable a number of strategic growth and diversification opportunities to advance. The addition of Steven Goldman as an advisor will enhance the Company’s development and financing capacity as we grow the partnership”

“The battery metal sector, and the Petro-Lithium sector in particular, is at an inflection point. We believe that the combination of technological innovation, the acquisition and development of substantial resources, and the growing demand, are at the early stages of exponential growth and will require ongoing innovation, planning and collaboration to fulfill its potential. Partnerships like the one entered into between E3 Metals and Comstock Metals will lay the foundation for that growth.”

Steven Goldman, President, CEO and Director of Comstock followed this:

“We have spent considerable time getting to know the team at E3 Metals and what they have accomplished to date in the Petro-lithium space. We have been impressed. This has ultimately led us to mutually agree that by working together, and combining our networks, skill sets and focus we will be able to achieve greater success for both of our shareholder bases.”

Taking samples from the Alberta oil fields where E3 are beginning to produce Petro-Lihium (Image - E3)

Taking samples from the Alberta oil fields where E3 are beginning to produce Petro-Lihium (Image – E3)

Comstock Metals Ltd. are an exploration company with several resources projects located in North America. Presently evaluating opportunities in the battery metal space Comstock recently secured the Rawhide Cobalt-Silver Project in Ontario adding to its 2 advanced gold projects: Preview Project in Saskatchewan and QV Project in the Yukon. More information about Comstock Metals can be found by visiting the company’s website: www.comstock-metals.com About E3 Metals Corp.

More information about E3 Metals can be found on their website by visiting: www.e3metalscorp.com

Edited by Liam Hardy for MiningIR.com

MiningIR host a variety of articles from a range of sources, our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance before investing.

Posted in Mining, TSX Venture Exchange Tagged with: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *